New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-19

not pertinent 10 tne present Hlquii y
All that we are concerned in is the
yaliditv OF the Japanese claim that u
was necessary for Japan's safety that
her paramount political, military and
economic interests should be acknowl-
edged. without indorsing the meth
eds she employed to confirm her pos
session Of these rights, it may be ad-
&, itted that their possession was essen
ral to the safety of Japan, owing to
Pussias intrigues.
Can a similar statement be truth
fully made in regard to ChlnaE Inc
commercial interests of the powers IN
Corea we're relatively small, and no
,,~oat extension Of trade could be
looked for. Except Russia, they could
rccard with equanimity any change in
The political control of the country.
The foreign debt of Corea was OF
tdning Importance. In China, on the
other hand, the powers have immense
commercial interests which are capable
Of infinite expansion.
The magnitude of these existing ana
prospective interests had led TO the
adoption Of an international policy de-
signed TO prevent any one power from
becoming paramount in China. policy
"a which Japan subscribed. There
could thus be no menace to japan by
anv third power from Chinese terri,
tory. even if Japan did not hold
-trategio positions in Corea and SCUM
Manchuria that would render any at
tack from the Chinese mainland hope
less of success. The claim that could
be validly put forward IN regard to
Corea is, therefore, invalid In relation
10 China.
The commercial interests of Japan
u China, though considerable, rank
lower than most Of the European coun-
tries, and these interests are safe
Guarded by the adhesion of all the
treaty powers to the principles of
maintaining the territorial integrity OF
China and equal opportunity for the
commerce and industry of all nations.
There is then obviously no menace to
Japan's safety in the maintenance of
the status quo in China. and the claim
advanced by tn, Japanese publicists
is therefore a reflection on the good
faith and sincerity Of the treaty
powers.
Nation, Poor, Carries Huge Debt.
Turning from this aspect Of the mat
ter. il win be interesting to the foreign
owners of Japanese bonds to study the
eject of Japan's expansionist policy on
her finances. In the early years OF the
late emperor the country devoted itself
10 internal reorganization and only yen
so 600 900 was added 10 the national
debt during the first sixteen years OF
his reign. In the sixteenth year MeiJl
1SS2l the total national debt was yen
$50 coo. goo. Even in 1902 it was only
ven $50 100000, but this jumped TO yen
: 100 600 600 in 1906 on account OF the
war with Russia.
As no indemnity could be obtained
from Russia, the whole burden mao 70
he horne by the japanese taxpayer. "A
table prepared by Mr.. Tsumura, noted
Japanese economist, shows the alarm
mo increase in JRpan's indebtedness
since 1902. The total indebtedness up
10 The year 1911, as indicated by this
table. is ven 1850. AIS 900, Of which yen
Il17' q69 600 is held in the country and
ven l.487,944,O00 abroad. The natlona!
debt per capita OF population IS above
ven 30. an astonishingly large sum Tor
a poor country like Japan.
In the annual budget nearly one
third of the ordinary expenditures o.
the government is for meeting national
debt charges. The following statistics
are useful for comparison: In 1917
the total expenditure was yen $1,000
900. OF which yen 100000 was fol
administrative purposes, yen l1,OOO,0OC
for the military and yen 100000 for
the national debt. In ten years (lsO3)
Inc total was yen 17o,000,000, Of which
ven 100000 was for administration
ven 10000 goo for the army, and yen
30 .000, 900 for the national debt. In
1872 the total was yen All 100000, OF
which yen I22,000,000 went 20 admin
istration, yen 100000 20 the army
and yen III 100000 to the service OF
the debt
These figures show that while the
expenditure on account Of the national
debt in 1893 and 1903 was less than
one-third. IN 1912 II was more than
one-third % the total expenditure OF
the government On account OF the
campaign against Kiao-Chau last year
q -. -. IN ann ann L. han