Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-23
PLEDGES Of JAP
RULERS NOT To
Be TRUSTED
Latest Financial Statement From
Toxic Gives Evidence of Usual
TriCkery and Deceit.
BY BoERSIANER.

CHICAGO, June 23.-In the world
Of commerce and finance japanese
per1dy is proverbiaL Gross misrep-
reservations disregard for contracts
verbal or written-are allowable in
the trade ethics of Japan.
That which is common among
tradesmen always is a reflection of
the code among the authoritative
class. This is confirmed by the last
statement from the Japanese Govern
ment. The document omits an item
that is characteristic Of the tinkering
'fscalism of the Toxic regime.
When, in 1906, Japan's national
debt was consolidated. a cardinal
stipulation was that all war loans,
amounting to $780, OO.O 600. should he
redeemed within 30 years-every year
100000 yen should be set aside for
the redemption. Though no sinking
fund was started-finance ministers
promised a beginning at a more pro
pitious time"-the redemptive clause
appeared consplcuously in all annual
statements save the latest. where it is
strikingly conspicuous by its absence.
Instead. indeed, of decreasing its
loans. Japan has increased these to a.
grave sum. Nine years ago Japan's
obligations totaled 1872 100000 yen.
To-day, despite solemn promises Of
reduction. the Japanese Government
owes 2,716,00O, 600 yen.
More Armament.
But the end is not yet The Jap
anese Diet has actually approved
new naval program. involving 800
600, GOO yen while the newest Finance
Minister, Tokohashi wants 100000,
600 yen for increasing the efficiency
of the army in Korea"
A financial critic is concerned only
with finance and political economy. l.
is his duty to call attention to the
pusillanimity OF a government that
ruthlessly breaks faith with It's cred
itors But the proposals for increa sed
ornaments should arouse more curl
osity in Washington than has been
manifested so far.
To the political economist il sounds
odd to hear California berated for her
attitude toward the japanese who
wish to acquire land on the coast.
Japan, on her side, has never allowed
foreigners to own an inch Of land
there. Two or three years ago a bill
to permit this was passed by the
House Of Representatives, but ii was
shelved higher up. never received I'M
perial sanction and never became law.
Foreign Labor Barred.
Japan does not permit any foreign
labOrers to work in Japan. Not long
ago a Japanese contractor, who had
undertaken to build a railway line.
found himself greatly hampered by
strikes among his natives. He, there
fore. engaged several hundred Chi
nese. A few days after these men
had arrived at Kobe the authorities
discovered that the laws of Japan
provide that no foreign laborers
should be allowed to work in Japan,
and all the men had to De deported,
the loss falling, of course, upon them
and on the contractor
Furthermore, the taxes on foreign
insurance companies doing business
in Japan have been doubled and the
Government now vigorously forbids
foreign vessels to do a Coastlng trade.
Why. in the circumstances, Wash
ington. or any other government for
that matter. should be representative
about ruffiing Japans diplomatic sus-
capabilities is quite beyond the ken of
a matter of fact economist. Viewed
economically Japan wants everything
and will accord nothing.
In the matter of her foreign loans,
she has gone very far, indeed, for she
has no scruples whatsoever to re-
strain her She would borrow to the
final farthing, promising the while
everything exaCted of her-and pay
no attention to the exacions. To the
government official at Toxic, moneta-
~ obligations mean no more than the
word of the average japanese mer-
chant