New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-02-11

The European war has brought Japan un-
precedented wealth, and the last twelve
months have been the most prosperous year
in her entire history. Naturally, the New
Year has been celebrated with unusual &C
claim and uncommonly gay decorations. The
pine trees and bamboos set up before the
gates and shop doors seemed larger than IN
other years. and in addition there was an
extraordinary amount Of feasting and rev.
cling. The Japanese on the whole are
temperate people; one seldom sees an intoXi-
Gated person about the streets. With them
there is a time for everything, and conYlVl-
alty IL reserved for some special occasion,
such as wedding OF municipal celebration,
and ALWAYS at the New Year. THIS year more
sake was disposed of than in ordinary years.
as might easily be inferred from the gay
crowds singing along the streets and from
the sounds of revelry issuing from res
taurants and tea houses.
II is a prosperity, however, that is alto
Qether financial; which, indeed, is what most
people regard as prosperity, even IN the sup
posedly more enlightened countries OF the
West japan. too, regards her enormous in
crease of wealth as the best evidence OF ma
tional progress, though the poor who form
the vast majority of the population, are no
better off for the nations increase OF gold;
rather are they worse off, since wages have
not correspondngly increased with the
higher cost of living. and the war taxes still
20 on. Thus, while the lucky few who have
grown fat on war orders are rejoicing with
the government in its abnormal accumulation
of gold from a prosperous year OF trade, the
masses are in want and Indulgence. Side by
side with motor cars, feasting and every dis
play of luxury we have throngs of poor too
proud to beg, be it admitted, but yet scarcely
able TO make ends meet.
Japans Unprecedented Wealth
The wear has witnessed an unprecedented
EXPANSION in Japanese trade Imports and
exports for the last twelve months have to-
tailed some 2,0000 100000 yen, of which 1,lOO,-
600 900 yen represents exports, leaving the
most favorable balance of trade in the ma
tons history. The increase was chiefly due
TO capturing markets formerly held by Ger
many and Austria, as well as to opening up
new fields of exploitation where European eN'
ports declined or wholly ceased. The spheres
Of greatest growth in Japanese trade were
China, India, the South Sea Islands, South
America, South Africa Australia and New
Zealand. Exports to Russia also experienced
remarkable increase que 10 an IHslolcHl uc'
mand for war munitions and supplies Owing
to abnormal increase of gold in the United
States japan enjoyed an unusual demand
from that country for Injuries, especially
silk fabrics, which totaled over i00,OOO,OOO
yen in value.
One of the most important questions Japan
has to decide is how she is going TO utilize
her wealth accumulated on account of the
war VIII she use it in peaceful or in an
aggressive manner? The temptation of ma
tons with more money than they know what
to do with is a matter OF history. Some
Japanese advocate utilizing the increase of
specie in reducing national Indebtedness
while others contend that it should be de-
voted to investments, as japanese loans are
held at q rate of interest below what the ma
ton can hope TO raise money for in any near
future.
Competition with Us in China
In view Of q similar increase of gold In the
United States tho leaders of Japan are keep
ing n close eye on that country to see how
America intends to dispose OF her newly ac-
auired wealth. As the tendency of some
American fnaneiers is TO look toward China
for a promising held Of exploitation and in
vestment, grave miSgvngs are aroused in
Japan, where the apprehension is growing
that America may use her increase of gold
TO check Japans progress in China. Japse
has not only been opposing American loans 10