Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1908-03-19
jAPANS BURDEN
FOREIGN LOAN is REFUSED
with ee Per Cent Of Appropriations
Given to Finance Army and Navy
But Little 10 Left for Rail-
road Improvements.


Tokyo, Mar. 16.-The government OF
Japan. finding that the self.imposed
burden Of nationalized railroads Is
likely to prove too heavy, is now en-
gagged in consideration Of tentative
projects for relieving itself and at the
same time serving the double purpose
Of building up the Industries OF the
country, providing additional exports
for its subsidized steamship lines, and
increasing its own income by the reve-
nue. derivable from increased produc-
ton. To the layman nothing presents
SO difficult problem at the present
time as that Of high finance In Japan.
The tremendous outlay on army ana
navy has been and still continues 10
be the point on which statesmen, poll
ticians and financiers are quarreling.
With SO per cent Of Its appropriations
given to the three divisions, finance,
army and navy, necessarily but little
is left for the SO much needed i'm
proyement Of the railroads, and in the
present conditions of the country the
$500. 100000 that must be paid to the
old railroad companies for the pur-
pose will strain the ingenuity OF the
financiers who have undertaken the
reorganization.
II Is In this connection that imam
cIers. engineers and railroad men from
foreign countries have been In confer
ence for the last month and more with
certain leading men in Japan. 1t Is
understood that the proposition now
finding favor Is that the railroads OF
Japan should be leased for period OF
years to private company or syndicate
which will take from the shoulders OF
the Japanese government the financial
burden and responsibility 1t has under
taken In this connection; which Will
nav to the government certain per-
centage Of profits and undertake i'm
provements and extensions under a
given schedule.
The influence that has undoubtedly
prompted Japan to at least take into
consideration this question OF the fu'
ture conduct Of the railroads Is stated
to be the fact that, in view OF the
financial necessities Of the coming IL
months, flnanciers believed that q for
eign loan was inevitable and that the
foreign markets were sounded. It then
developed that Europe and America
regarded the naval and military poll
cies Of Japan, which 1t has thought In
dicated an expectation Of trouble, az
fatal to Japan's credit as a borrower
Of large amounts in the foreign field
In other words, Japan has been told
that money will not be Forthcoming
for the building up OF an army ant
navy beyond such standard as 1t II
reasonable to expect Japan to main
tain, said that the financial worlt
would prefer to see Japan really ant
In earnest developing her resources TO-
the betterment Of her people thar
taxing those people for an army ant
navy which, rightly or wrongly, arr
said to be destined for aggression
sooner or later. The reply of the Jap
anese government to this seems L
have been that the financial pro
gram of the future contemplated
very large reduction Of expenditures
on the army and navy. But those VIII
were in a position to lend money az
parently rejoined that they would pre-
fer a guarantee as to the exDenditur
Of the money loaned, and added tina
in common with so many people 4
Japan, they thought the nationalizs
ton OF the railroads quite as great
mistake as too rapid and ambition
: niana for army and navy.