The Owosso times. (Owosso, Mich.) 1897-1926, 1917-11-23
JAPAN FIGHTING
HARD IN WAR FOR
WORLD MARKETS
Has Made Tremendous Strides
in Manufacturing and Ex-
porting Since 1914.
HER INDUSTRIES THRIVING
Has Captured Markets Held by Other
Nations-Trade to Australia Quad
rupIed-Building 100000 Tons OF
Shipping to Handle Export Expansion

shipping 10 Hanole EXPORT Expansion
In the past few years Japan has I'm
| dergone tremendous Industrial devel
opment. The enormous progress made
by her in manufacturing and export
ing since the outbreak of the war is
little realized in this country.
1t Is not fully recognized that Japan
Is gradually changing from an agricul
tural to an Industrial country, and that
In her new drive to win some Of the
foreign markets she has captured con
siderable Of the business which was
formerly held by this country. The
great expansion of her foreign trade
since 1914 Is shown by the official re-
turns of her trade In 1916.
Exports Far In Excess Of Imports.
During that year tue total value OF
imports was 756, 100000 yen, being an
increase of 224.OOO,OOO, while the ex'
ports for the same period amounted to
1,127 100000 yen, being an increase OIL
about 419 100000 yen. The actual ex
cess OF exports over imports for the
year was 371, 100000 yen, as compared
with 170,008,000 yen for 1915.
The changed position which has
taken place since the beginning Of the
var may be~seen from the fact that
for the year 1914 there was actually
an excess in the value of the imports
over exports of about 100000 yen.
Cotton manufacture Is one Of her
principal industries, and the statistics
show that the average number Of spin
dies working daily in Japan In 1914
(the latest available year,. was nearly
2,500,O00. Wool manufacture was not
carried on before the war to any great
extent. but 1t has now received a con-
tories are executing orders from the
Russian Government.
The production Of iron and steel
both in government and private works
has also been very considerable, the
best iron ores being imported from
China. Japan has some 100000 tons
OF shipping now under construction,
and the industry is in iourishing
condition. Her merchant marine con-
sists Of 2,170 steamers Of 1,704, 7S5
tons, and 9,187 sailing ships Of 2,403
tons. Ocean-going steamers exceeding
10000 tons number 448, with total
tonnage of 1,42S,212 tons. Thirty-nine
ocean going steamers Of 140,236 tons
were launched from Japanese yards in
1915.
May Use American Machinery.
1t might be added that japan is now
investigating the possibility OF using
American cotton-spinning machinery
in their mills. The extent of purchases
already decided on Is estimated at
200, 900 spindles. ~.
How her credit stands may be seen |
from the fact that her ~ per cent.
loan. Is quoted on the London Stock
Exchange at, 91h, yielding at that
price, interest Of nearly per cent.
Great Britain's Az per cent. loan is
quoted at 92K. so We see how the rela.
tive positions OF the two countries
have changed since 1914. Before that
fateful time no one would have
dreamed of comparing the two credits.
Already Japanese manufacturers
have quadrupled their exports to Aus
Ships which in the past aver
aged a cargo OF $50 tons now bring to
Sydney $500 tons. The Japanese have
captured a great deal OF the trade once
firmly held by American, British, Ger
man and French exporters. In the silk
market they have won the premier
and Australian shops are now
filled to overlooking with cheap Jap
anese silks.
The following Japanese goods are
now sold with great success In the
Australian market: Glasses, scientific
silks, Panama hats, cot
IONS, toys, insulators, electric light ap
paratus, camphor, sulphur oil, matches.
rubber tires, bottles, por
celain.
Japan's rapid industrial and com
mercial strides will serve to intensity
he formidable competition which the
American manufacturer will have to '
meet both in domestic and foreign
markets after the war; They afford |.
another striking proof OF the necessity
or restoring friendly relations be- G
.ween capital and labor, securing few.
,r and better business laws and
a better public attitude to. :
ward business so that American In. s
,ustry may be rid of its harassments
Ind made strong for the trade fight g
lfter the restoration Of peace.-Indus- g