The sun., 1916-12-01
JAPANESE GETTING
RICH THROUGH WAR
Bank Clearings and Gold Hold
ings Shown to Have Grown
Enormously.


same wave OF war prosperity which has
engulfed the United states, Ia growing
richer. according to oficiai reports re-
ceived In washington, than Its most opti-
mIstic statesmen could have dreamed
ten years 9 Foreign trade. especially
in munitions, 10 growing by leaps and
bounds. Bank clearings have reached
extraordinary totals. Bank deposits are
increasing rapidly. Manufacturing es-
Establishments are spreading out and new
industries are being started. Steadily
and with amazing success japanese
business men are invading Far Eastern
fields neglected by the European bel
llgerents.
Tn eleven clearing houses Of tho en-
pire for the first six months Of 1915 rc-
port clearances OF s.3so.ooo, 900 yen
Nt.lse.ii5,0 oo). This Is an increase Of
3.275.o00.oo0 yen OI.s32.5s7. 500) over
the corresponding period Of 1916.
Just before the outbreak Of the war
the total amount Of gold holdings In
Japan was Si7~5.s7o.5oo In June Of the
present year this hoard had increased
1899. 100. 900. 1t IL estimated II the
DIeStuI Inflow COutluu0o tNht NV 8Vtu
holdings will amount to approximately
$3<S.950.000.
The banks represented by the clearing
houses of Toxic. Osaka. Kobe. kyoto and
Yokohama showed an Increase In de-
posts from 1856. zoo. 900 yen in January
Of the present yea to l.7S5.00 900 In
September. For the same period loans
Increased from 1.7oS. 900. 900 yen to l.
S:4. 900, 900 yen.
In 1915 notes issued by the Bank Of
Japan amounted to $40. 900. 900 yen. In
1915 they had increased to 39S.ooo.0o0
yen and by September. 1916. the total
had grown to 444, 200. 900 yen. The
specie reserve Of the Bank of Japan in
creased from January. 1916. to Scptcm-
Der from Gil, 900. 900 yen to $4,000, 900
yen.
Postal savisgs Grow.
In 1914 the postal savings Of Japan
amounted to 1sS.072.+sl yen. in 1915
:l9.5t7.7SS yen n in August. 1915.
?69.670.s69 yen. The nxed deposits In
the Toxic clearing house banks grew
from 22l.129.s77 yen on September 20.
1915. to 269.cl<.625 ven on September Z.
1915. Already 10000. 1000 e have been
invested in Russian treasury bonds and
since the war 401. 100000 yen have been
invested in manufacturing establish
ments. cotton mills. chemical plants.
shipping and other industries.
A In tho United States, the foreign
trade OF japan shows q balance In favor
OF the empire greater than ever before
In its history. 1t 10 estimated that the
excess Of exports over imports for the
current year will amount TO 800, 00C, o."
yen. approximately $780, 0o.0 900. a igure
small In comparison with the huge total
Of the United States. but OF magnificent
proportions to the Japanese fioancier.
II Ia In the field OF foreign trade that
japan is reaping its golden harvest. II
Is sending its cotton products to China
and India. II is fast taking over the
colonial helds once exploited by Ger
States. are growing with as great rapid
ity. apparently. ~ its exports to Oriental
countries from which war has removed
Its most energetic competitors.
In August. 1915. Its exports wefe S.
519.6t6 yen. For the same month In
1916 they had increased to s7.232.s ~
yen. There was a corresponding In
crease in imports. but at the same time
the large trade balance grew larger.
some Export Figures.
Taking the period from January 70
August as a basis OF comparison. OK.
pOIts 10 ASIA lnCTedSCu from Wb.VVV.UW
yen In 1916 TO sos. 200. 900 yen In 1915
to Europe, from 1000. 900 yen IN 1915
10 1850 o 900 yen In 1916. and TO NORTH
America. from 1ls.000.o 900 yen In 1915
to 100000. 900 yen in 1915. Exports to
South America and Africa Increased
almost fourfold.
Japanese business men have not only
enlarged their existing manufacturing
plants to an enormous extent but are en-.
tering upon new Industries. As in the
case Of the United States. special en-
couragement Is given by the Government
TO the manufacture OF synthetic dyes
and a company has been formed with
capital stock Of nearly $4,000. 900. which
has been ~oversubscribed $40 times. The
Japanese Government grants special sub.
sidies to these new institutions.
Cotton spinning establishments are moi
only working full blast but are con.
stantly being enlarged. Capital in these
establishments has been increased BY
23.S43.7bo yen and large profits are be.
Ing made. Between January and Jun
Of the present year ten cotton spinning