The Montgomery advertiser., 1908-01-19

of restraint have given away, with disastrous results. There has not been single important line of industry in Japan that within the past twelve months has not known strikes of the most serious nature. all due to the ui- tra financial stringIncy that could not afford living wage. In some tnstan- ces these social eruptions resulted in wanton and wholesale destruction Of valuable property and ruthless loss of life. A
 Stocks and shares were never tower in the history of the empire. Ths ph enomenaI boom in the establishment of industrial enterprise that markeG the opening of the year have broken and many of the embryo undertakings have already gone into liquidation. fns failure of banks is of common occur renee. The government monopolfes and the big corporations under the patron age of the government are swallow ing up the smaller ventures. with nat urally consequent discouragement in private enterprise. But the difficulty calling for immediate adjustment is that bearing upon the increased cost of living. which Is unjustly expressing the masses. For this the government must bear the responsibility.
 Extra Cost of Livfng.
 The Government Is to blame because, although the indebtedness of the na- tion is now more than the people can well bear. the authorities are recF- lessly proceeding with an ever in- creasing expenditure of money in im- mediately unnecessary undertakings. Moreover, the exceedingly high tariffs on the necessities Of life has resulted in an increased cost of living in all directions. The cost of living has gone up 20 per cent. in :ne last hvc years; and without any corresponding in- crease in wages or salaries During the last twelve months the price of rice, which is the poor mans bread, has gone up to double what 1t was a year ago, and is now higher than ever before ip the history of Japan. The alarming and sudden increase in the cost of Yiving, combined with the weight of taxation. leaves the masses justly disaffected toward the Govern ment; yet the latter goes on indiffer- entity adding to the nations liabilities by raising loans and expanding arm aments, and indulging in various en- terprises that even wealthy nations would hesitate to afford. That the re- suit of such extravagance can turn out satisfactorily is beyond even the most sanguine hopes of the best iinanciers.
 Among these Japan can reckon none ETeaLeT Inan the ndH1c8 OI t1dTOu oul@ busawa and MT. Sonoda of the Fif- teenth Bank. These men will admit that anxiety for the financial future of Japan is not entirely due to the hyp- ercritioal faculty of jealous foreigners. Both of them recently have spoken in no ambiguous terms of the govern- ment's unwisdom in the present in- crease of expenditure for the vast na- val program, and warned the authori- ties as to the results of increasing taxation. Baron Shibusawa said that if Japan went on with her present ex- pansion of armaments independently of resources. she would be sure to im- pair her credit abroad and cripple her industrial and commercial expansion at home. The note of warning comes rather late. however: the failure to raise the last Japanese loan seeking Notation in London would seem to jus tify the assumption that the mischief has been done.
 A Contradiction.
 It is a matter of wonder to many that Japan should go on presenting the world with the paradOxical spec tacle of a nation that both naturally and professedIy does not want war and cannot afford war, and yet is all the while devoting the greater part of her resources to a preparation for war. Her arsenals and navy yards are busy day