New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-29
To the Editor Of The Tribune.

To the Editor Of The Tribune
! Sir In the letters of Mr.. George Bronson
Rea appearing in your estimabe paper are
many statements which are gross misrep-
reservations OF actual facts and conditions as
they exist at the present time in Japan.
With one matter however wish to deal If
you will permit me. namely, Mr.. Reas attacks
on the economic stability and the financial
credit OF Japan. When | read in two OF Mr.
Rea's letters these attacks on Japan's hnan-
cia status with their context wonder what
his real underlying motives are. Let US com
pare Mr. Rea's averments and statements
with the facts. and then judge.
/ find in Mr.. Rea's letter Of December II
the following bald statements:
careful consideration o Jspans draacal position SOY,
ihai u1ic', e a5sr1ors Ter uii,ar Era ~ - ,,h
japan Is nearing the end q her. resources. III,
Her miIitar,m must ed ~ .-hfut',. or be il''in'a
4 Her AT,i and urstcraho mi,aF Aid naval programme
In the face Of impending bankruptcy.
Here is indeed. fixed idea which will not
be misunderstood for want Of repetition, TO
which there is just one suficing answer:
That in no country on the globe is closer ac-
count kept OF means and objects of expendi-
ture than in Japan; that her obligations have
been met without exception and TO the hour;
that il, in common with the rest Of the civil
lized world. her governmental expenses have
increased, her resources. her manufactures,
her mercantile shipping have developed in an
amazing degree; that alongside the absolute
demands OF her military and naval establish
ments Japan has been making unexampled
expenditures in education. social betterment
transportation, agricultural experimentation,
scientific progress and national wellbeins
which Of themselves refute the scandalous
libel on her economic stability. Such eX-
pendtures, giving results shared in By ell,
are the outlay of peoples secure in their eco
nomic system.
In his article of December 10 Mr.. Rea re
turns to the assault Now his concern IS over
Japans high taxation, the increase in her
naval tonnage, her poverty the high price OF
rice, the average OF the poor mans expenses,
all summed up in the following sad cry of the
cat in the moonlight or, as you say, Jeremlad;
The finance. Of Japan arc IN critical stage The taIes
are ven hesr The not oly cause price inhaons 9l'
apI ss iGsyS ,cr Is eonrccd 70 increase is note
thus aiding another rsuse % price nha,l'A ~
mrnt AMI r1Icupou ci oAis beress-
,,e t. c,por;alon Of gold thu diminishing the gold re-
s.'e +d s5 t1y-' keeps On hors and is dsjeme
Z 10 CARY plnCy o. military expansion
II would be hard to write anything more
contrary TO the facts than the above. Japan
is Furnishing; there is no depression OF
business. The Bank of Japan is full OF gold.
do not wish to utter unsupported words.
might quote abundantly from the current re-
sponsible press of Japan, but instead crave
your courtesy TO let me give the following
figures taken from the latest Financial and
n. off al
by the Department Of Finance of Japan. Bank
.rs and fnanciers will appreciate them. Pos
sibly Mr. Rea will realize their import. One
ven, ! may say, equals about so cents in
United States money.
Taxes are not unbearably heavy, as Mr. Rea
has represented them to be, viz: The total
tax is trihe over yen per capita. which
shows little change since 1908. All taxes, in
Guiding custom duties in 1908. amounted 10
ven 800. 600. 900, whereas they increased TO yen
34O. 600. 900 in 1914 To illustrate, the follow
ing figures are self-explanatory:
DEPOSITS N POSTAL SAVINGS BANKS.
d St5s
., 900 900 70, $4,000 l5 59Gras 600 r los
DEPOSITS N BANKS THROUGHOUT THE COUNTRY
Yen .-L5io 100000 2.i2ooooooo 5'o.oooooo 3',
BANK CLEARINGs.
Yen $500 1000 10000. 100000 3.95oooooOo al
Since 1914, and increasingly during the
present year. a vast improvement has taken
place in all directions A bumper crop OF rice
reduced the price Of that foodstufT very mate
rally. Exports in general. and Of war require
ments. increased greatly over imports. In con-
quence the amount Of gold in vault and on
account OF the Bank OF Japan has been cor
respondngly increased On August /, 1914. the
|, total issues of the Bank OF japan notes we're.