The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-04-16
E. FROx OTHER PENS
JAPAN NEEDS PEACE.

japanese finances are attracting an
extraordinary amount Of interest In
European capitals The price of that
nations bonds is like a mirror, which
reflects accurately the strained condi-
ton Of it's credit. For full ten years
every available yen Of Japanese wealth
went into building a greater navy and
creating an immense army. III proper
ton to their wealth the people were
heavily taxed for these purposes. Since
a good part of the navy was built in
foreign countries. the Japanese did not
even receive any material benefit from
the construction of warships.
The fearful drain in men and money
caused by the recent war added to
Japan's terrific financial burden. She
had for a decade invested all her
wealth in two eggs-the army and the
navy-which were put into one basket.
The triumphant outcome Of the war
with Russia left japanese territory I'M
touched-the two eggs had served for
that purpose-but peace found the
mikado's empire fearfully poor. Hav-
ing preserved her political rights and
gained much besides, Japan can now
we'll afford to take long rest. Euro
pean economists and statesmen point
out that this Is not only desirable but
imperative II the country Is to escape
bankruptcy. No nation, and least OF
all a poor one, can afford continually
~e~<NSS
supporting military enterprises. These
fiscal considerations weigh nightly
with England, which is Japan's ally,
because Englishmen have an immense
sum Of money invested in japanese
securities. Consequently every pound
Of pressure which the British can bring
to bear will be On the side of prolonged
peace in the Orient.-Philadelphi
Press.
BUSINESS GETTING BETTER.
Business is improving, in spite of
the wall of pessimists, who are care
full to pick out the evidences of hard
times and to ignore the signs that
show the tide has turned. The New
York Central has cut It's dividend
from 6 to per cent, and this Is cited
as evidence that the bottom has not
been reached, but the prophets of
evil overlooked the fact that the same
railroad company has ordered 136
new locomotives with which to ham
die its increasing business. This is
conclusive proof that the readjust-
ment made necessary by last Octo-
ber's shock is being utilized to good
ends. Imitation is being succeeded by
operation on a solid basis, in which
dividends represent money actually
earned in daily business. Thrift is
replacing overconffdence and too
venturesome exploitation. The rail-
IOdOS Illdy AlOt O6 CAPau0AAA6 oo oPAA-
ly as they were, but it is safe to say
that they are being operated In more
businesslike fashion now than ever
before. And with the volume OF traf-
nc increasing. the restored economies
Of operation will bring good dividends
again.
The United States Steel corporation
the chief barometer of industry, re-
ports increasing business. with busy
summer in sight. The demand for
steel grows greater. What can this
mean but restored confidence and en-
larged activities all over the country
This condition results, doubtless. from
the knowledge that the basic re-
sources OF the country are unaffected
by hard times. The outlook for crops
is as good as ever, and with the open
ing OF spring there is the usual de-
sire to expand and build. Real es-
tate is becoming more active, espec-
tally suburban property, and this in
turn leads to increased business on
the trolley lines and plans for extern
sions.-Washingtons Post.