The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-09-20
The Commerce and
Finances of Japan

New York Journal Of Commerce:
Whatever may be the status of our
diplomatic relations with Japan, and it
seems to leave a good deal to be de-
sired, the commercial relations between
the two nations are entirely satisfac-
tory. Japan is the only Asiatic country
with which American export trade
keeps steadily increasing. In the fiscal
year ending with June the sum of our
Asiatic exports showed a decrease OF
$4,000, 900. This was fully accounted
for by the falling off in the exports to
China. But the exports to British IN
dia showed also a decrease of $780,
600 n this in presence OF an increase
in imports amounting to $50, 900, 900. TO
China and Hongkong combined we
sold only $32. $40, SOB and to British In
dia SIS, los, SOFA total of $47,979,5 59,
against exports to Japan amounting to
SET, TAI, 815. For the calendar year end
ing last December the sum of all the
imports Of Japan amounted to $685.
495, 900, to which the contribution OF
the United States, according to Jap
anese figures, was $50, 507, S78, and, &C
cording to our Owl $57,519,6 54, or 1875
per cent of the whole amount. Japan
ese exports for the calendar year 1912
were 1868, 49o, 900. of which the United
States took $87.418,042, according to
our figures, and $S4,354,498, according
to those of Japan, or equal to 81 pei
cent of the total. The fact may be
noted that there is no country with
which we do a considerable trade
whose official figures in regard to it
agree so closely with OUT own. The
figures of the Chinese Maritime Gus
toms, for example, showed for last year
Ia, disparity of IS ,000,0 900 between the
valuation in China of exports to the
United States and the value placed
here on imports from China n that
on less han half the volume of u
imports from Japan. 1t is also an in
teresting fact that, while h aggre-
gate value of the foreign trade Of
China has passed that of Japan, the
proportion which the United States
contributed to the former last year was
only SO per cent, against 26.5 per cent
in the case of the latter. For the first
six months Of the present year the
foreign trade of Japan showed a dim
inished rate Of growth, the increase
being $27, 000, 000 over the same period
Of last year, but it is confidently ex-
1pected that the trade for the whole
lyear will show a total of $3.50. 000,0 900,
against $4,000 900 for 1912.
The chief article of the export trade
of Japan is raw silk, which was sent
abroad to the value of $75,O0O,O 600 last
year, forming 28.5 per cent Of the total
volume of the years exports. Of the
entire quantity exported rs per cent
went to the United States, IL per cent
. to France and 10 per cent to Italy. Cot
ton yarns were exported to the value
Z of $26,840,000 and cotton fabrics and
:, towels to the value of $4,000 600
, China furnished the chief market for
= the cotton products of Japan, and the
. lnew found Chinese demand for hats,
foreign clothes and boots gave the
Japanese a chance to export S3,5OO,0o0
under that head. Japanese tea con-
f tinues to be an important article OF
export, chiefly to the United States.
:, but there has beer of late a falling on
1 in the demand here, the total import for
the fiscal year being, according to our
own figures, 5000, 900, against a little
= over 50, 900, 600 in 1912. The most Inn
portant article Of Japanese import is
I raw cotton, which was purchased IN
1912 to. the value of over $500, 00o,O 0D,
. import trade. Of this 81 per cent came
from British India, 81 per cent from
= the United States and II per cent from
China. Japan continues to be a con-
: siderable importer of Manila. hemp
= and the development of its WOODEN
manufactures has it's reflex In 1ncreas-
: ed imports Of raw wool. OF the cruder
m~anufactures of iron and steel Japan
5 imported in 1912 to the value of over
$29,0 900, 900. OF these the principal ele-
ments we're pig iron and steel blooms
- ingots, bars, rods, sheets, plates ano
e tubes, of which 48 per cent was import
ed from Great Britain, 20 per cent from
the United States n 10 per cent trom
Germany. The import value or rail-
wav locomotives, cars and wagons
amounted to only $4,000, 900, but the
imports of machinery reached a tota
of $14, 230, 900. It is noticeable that the
= importation of crude oil and kerosene
fell off on account of the wider d1ffu'
sion of electric and gas lighting, anC
that the increased use of petroleum
motors increased the importation Of
k naphtha.
The Japanese budget continues tc
represent a. very heavy tax On a com
" paratively poor country. The revenue
!, for the present year is expected tt
yield 1921, 900, 900, which, though no
II representing an excessive per capits
a burden for the II, 500, 900 people o
Japan, Korea and Formosa, is, whel
the earning capacity of these people
is considered, perhaps the heaviest ma
: tional burden in he world. The Jap
anese income tax on business firms
r and corporations, beginning with al
income of $4,000, ranges from A to i
n per cent, n on private persons, be
ginning with an income Of $500 pc
annum, ranges from III to % per cent
There is also a business tax leviet
upon every description of commerce
Land industry and a succession ia:
= (which reaches as high as 5 per cent
q In spite Of the burdens which 1t ha
4 to bear, business activity in Japal
shows no sign of relaxation. TIL
amount Of capital invested in new
commercial enterprises in 1912 amount
n. ed to $3.50, GOO, 900 which was $4,000,
1000 in excess Of the previous year. Th
leverage railroad mileage of the empir
in 1912 was $50 miles and the receipt
1t from freight traffic amounted to $35,
800, 900. The number of passenger
IS carried was 1853, 8 $1,000, being an in
crease of $40, 900 over the %precedin
-~-~~ ~~~- -