The Birmingham age-herald., 1909-01-24

and their trading and banking insti- tutions are in all the big cities. This family has also it's branch establish ments in the leading seaports of China and in Hongk ong, Manila, Singapore and Bombay. It has branches in Australia and Java and also in San Francisco New York and London. In some years it ships as much as 5000 bales of raw silk to the United States and it has a fleet of good steamers, which carry its merchandise to and from Shanghai Hongkong, the Philippines the Straits Settlements, Burmah and India. There is no more thriving cor poration in the world today and just as this time. when we Americans are talking of the Japanese as being on the edge of bankruptcy, 1t is surpris- ing to come into contact with an in- stitution like this.
 A Family of MiIlionaires.
 Through the kindness of MT. J. Yama- moto, one of the directors, l have been able to spend the greater part of today in going through the big office buildings of the Mitsui Bussan Kaisha here in Tokio, which contain the NHtsui bank and the exporting and mining depart ments of the corporation; and I have also visited it's big department store across the way, which has more trade than any dry goods establishment of the far east. Each of these institutions is a story in it. self But before I give it I want to tell you more about this remarkable family. The Mitsui house is a joint association consisting of II families or partners, who have pooled their capital in their joint name under the system of unlimited joint liability. The bank, for instance, which has a capital of 5,0O0000 yen and a sur plus of II ,500 GOO inserts a statement in all of it's banking advertisements that it is owned by the members of the Mitsui fam fly, and that they as partners assume an unlimited responsibility for all it's debts. As a result the people know that all the wealth of the family is back of the bank, and it has the highest credit It's deposits are now about 70000000 yen, or almost S5000000.
 The same rule prevails as to all the obligations of the Il families. The prop critics are all held in common, although each family may have independent prop erty of it's own. In the Mitsui establish ments, however, there Is no particular property to which any one can enter his absolute claim. The institutions are managed by the Mitsui family council, &C., cording to rules laid down by one of the heads of the family who lived more than , and not only the individual, the head of an institution, is in accordance with the social organiza tion of Japan. Here the individual is subservient to the family and the rights and obligations of the family should outweigh those of any of it's mem- bers.
 This combination of the Mitsuis has now existed for about 200 years. The family has been in business longer than datf to dal lord who lived at the time of Christopher Columbus It was somewhere along dur ing the days of Chaucer and Spenser in England that Takatoshi, a descendant of this lord, began to engage in trade. He opened a store in Kyoto and established a dry goods business here in Tokio. He sold for cash and also organized a sys- tenn for the collection and remittance of money, and it was his son who wrote out the family rules which have made the fortunes of the house. He also or ganized the first family partnership. In this first organization five brothers en- gagged to work with their collective cap ital and this system has continued down to the Il branches or partners which con- stitute the house of today.
 The Financiers of New Japan.
 The Rothschilds frequently come to the assistance of the great governments of Europe. Their fortune was founded, in fact, on money loaned to one of the Ger man rulers who applied to the old houss at Frankfort. Jay Cooke helped Uncle Sam out during the civil war and Presi- dent Roosevelt was glad to nave the as sistance of Pierpont Morgan at the time of the last panic. The Mitsuis have occupied even more important positions in regard to the new Japan. When the emperor was brought out of his seclusior at Kyoto and the present era of western civilization began the Mitsuls furnished most of the money to finance the new government They practically enabled Japan to bridge over the great crisis which then threatened the empire botl | from within and without, and their serv' ice was so valuable that Baron Hachiroe inou Mitsut. the present head of thf house, was made peer and all the otnel partners were given titles in acknowl' edgment of 1t. The house today stand' very close to the government and II mas great influence in financial matters. Bankers and the Government. Indeed. the Mitsuis are, perhaps, the most important element in the Japanese xl n n Q