Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-12-15

market being closed, bankers were ask
ing themselves whether it would be
possible to secure loans in the United
States The business interests were
anxious to create closer and more ex-
tensive business relations with the
United States and to make the Pacific
Ocean sphere not only of peace but
of greater commercial activity. 1t was
evident he said, that there existed in
I Japan today powerful current of
opinion in this direction which was OPP
posed to any consideration of local poll
tics or party strife interfering with such
trade and commercial development.
Viscount Inajiro Tajiri, president of
the Board of Auditors, who studied
economics and finance at Yale Univer-
sity, has written this month about
the fundamental solution of Japanese
finance which he considered the most
difficult problem that Japan has to face.
In Japan, it was, perhaps, more difficult
than in any other country in the world.
and yet there was no country or earth
where there was such hope for the fu-
ture, If all classes continued to CO.
operate toward the one end of financial
consolidation.
He wrote:
THE question that most vitality af-
fects national finance in this country
is that of food. 1t is in fact the great
fundamental problem of the nation.
Solve this problem and the problem of
finance is solved. At present our food
supply is deficient and renders us
debtor nation. This is reflected in our
excess of imports over exports, and our
unfavorable balance of trade generally.
The Government is in debt and private
enterprise is in debt to the extent of
hundreds of millions. Many of our
municipalities are in debt too. More
than 200,000.000 yen 100000, 000) of
our business capital is foreign money.
1T is not too much to say that the
hole difficulty lies in our deficiency In
food supply chiefly in rice, the staff of
life in Japan"
DIR. Tajiri pointed out that the annual
supply of rice was deficient and was
made more so by the annual consump-
htion pr s20.0o0.O0O bushels by the brew
cries for making the native drink called
sake. In eating rice, much of which
she imported, Japan was eating verify
''the money of the usurer." 1t would
be a long time before Japan became a
creditor nation, and in addition 10
adopting the remedies of reorganiza-
ton of commerce and industry and
more extensive colonization, Japan must
readjust her cultivated land so as to
insure an annual increase in the rice
crops of at least 100000 bushels. He
declared:
IF we go on importing the most nee
essary articles Of food and export only
luxuries and ornaments we cannot
bring about the desired change" Much
also could be done, he thinks by exter-
minating injurious insects which de-
stroy 100000 bushels of rice every
year. Improved methods would increase
crops in Hokkaido, Korea and Formosa.
In the south two crops year could
easily be raised.
what Japan has to do is to make
agriculture the main vocation of the
people, Let her become as successful
commercial and Industrial people as
she may. yet she should never forget
that without agriculture there is no
hope for her as nation. Agricultural
reforms constitute the best policy for
promoting national economy. 1t is the
rather than agriculture should be the
foundation of national economy that
leads SO many young men of Japan to
( forsake the land and wander to the
cities where they come to nothing
Another necessary reform relates to
foreign trade. Instead of importing
necessities and exporting Injuries,
Japans goal should be to export the
necessities She should learn to grow
her own cotton, as she is now attempt
ing to do in Korea"
In conclusion, Viscount Tajiri warns
his fellow countrymen thus:
Japan needs to be careful to guard
against the western tendency to run
after ornament and to be reckless of
the more practical things of life. Our
people should think more about the
substance and meaning of life. The
foundation of national economy depends
much upon the economy of individuals.
If we began by reforms in the supply
and consumption of food and then went
on to improve commerce and industry
we would be taking the right and nat
ural course"