The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-06-30
JAPAN'S PART IN THE WAR,
Lending Money to England and France
and Sending Ships to the Mcditer-
fancan.

Toxic, June 2S.-(Corresponden
Japan was negotiating with Rus
sia to make war loan to that coun-
try when the revolution interrupted
the pOurparlers, said Kazuye Shoda,
Japan's. Minister of Finance, to the
correspondent of The Associated Pross
while discussing Japan's proposed 4
nancial assistance to the entente pow
ers. The Minister did not say whoth-
CT the interrupted negotiations would
be resumed.
The minister previously stated that
his country was negotiating to make
leans to Great Britain and France
He could not fix the amounts. but he
expressed the opinion that the firan.
cial aid to the entente, supplementing
JGpan's dispatch Of a fleet of warNhips
TO the Mediterranean Sea, showed
that Japan was doing everything in
fully prosecute the war.
He declared that loans to the allies
and the contemplated purchase of
Entente securities held in the United
States would tend to check the outflow
of gold from the United States to ia
pan which appeared to be causing
some apprehension in the United
States. The contemplated purchase
of securities was not to be an official
operation. 1t was being arranged by
n group of important banks, includin,,
the Yokohama Specie Bank, the In
dustrial Bank of Japan, and leading
financiers Of Osaka.
You must remember" remark ell
Of gold from the United States to ia
pan. that the Importation of specie IS
generally regarded as disadvantages
Gus operation"
Minister ShOda, in an address before
the prefectural governors referring to
Japan's financial part in the war.
said:
"Our own people may sometimes
forget the fact that our country is n
! party to the war for our military op-
erations are not conspicuous on tho
surface. But the empire is giving the
allies every assistance at it's COM
mand, and the special fund needed for
hot
Fortunately at the outbreak Of the
war, our national treasury was in such
fine condition that we did not have
to seek special revenue source in
defraying those expenses. But what
one knows except the prospect that
the expenses will only increase. The
government, therefore, is at prcsen.
considering tho ways and means to
sOlidify the foundation of our war
time finance"
That Japan was continuing to en-
JOY great material prosperity was
shown. he said. by the fact that up TO
the middle Of May the excess of cx-
ports over imports had reached the to-
tai Of about $4,000, 900, or about
three times as great as the previous
year for the same period. This had
brought about an Over-supply of mon
ey which constituted a great prob
lem. The way Of dispOsing of this
surplus money could not be definitely
outlined in days like these when the
world finance is full of sudden changes
1.-THE investment of our capital in
China" he went on, SIS Indispensable
in realizing the ecOnomic cooperation
between Japan and China. For that
purpose the financial organs must be
unified and readjusted and cooperative
enterprises Of Japanese and Chinese
must be encouraged. 1t should be re-
membered, however, that the interests
Of the two peoples should be promot-
ed for their common good and con-
flicts should be avoided as far as pos
sible."
I'VE must be prepared to respond
unilinchingly to orders for war sup
plies in order to help the allies win
the war. feel it is our duty to give
the allies every convenience in paying
for the war supplies from our coun-
try"
ONLY ARTVJJ,EIsX ACTIVITY