The Republican journal., 1917-11-08
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-euilding 100000 Tons Of
Shipping to Handle Export Expansion

In the past few years Japan has IN
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 TIE total value OF
imports was 756, 100000 yen, being an
increase Of 224 900, 800, while the ex.
ports for the same period amounted to
1,127,50O0o0 yen, being an increase OF
about 100000 yen. The actual ex.
cess of exports over imports for the
year was 81, 100000 yen, as compared
with 1700O0,000 yen for 1915.
The changed position which has
taken place since the beginning Of the
war 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,UJ0. Wool manufacture was not
carried en- before the war to any great
extent, but it has now received con
siderable impetus, and Japanese fac
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 from ores being imported from
China Japan has some 100000 tons
of shipping now under construction
and the Industry Is in a fiourishing
condition. Her merchant marine con
sists of 2,170 steamers Of 1,704, 7S5
tons, and 9,187 sailing ships Of 572,403
tons. Ocean going steamers exceeding
10000 tons number AS, with a total
tonnage of 1,42S,212 tons. Thirty-nine
ocean-going steamers of 140,236 tons
we're launched from Japanese yards in
1916.
Nav 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
100000 spindles.
How her credit stands may be seen
from the fact that her Az per cent.
loan is quoted on the London Stock
Exchange at 9112, yielding at that
price, interest of nearly per cent.
Great Britain's AZ per cent. loan Is
quoted at 92A, 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
tralia, 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 nave won the premier
position, and Australian shops are now
filed to overlooking with cheap Jap
anese silks.
The following Japanese goods are
now sold with great success in the
Australian market: Glasses, scientific
instruments. silks, Panama hats, cot
tons, toys, insulators, electric light ap-
paratus, camphor. sulphur oil, matches,
basketware, rubber tires, bottles, por.
celain.
Japan's rapid industrial and com
mercial strides will serve to intensity
the 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
for restoring friendly relations be-
tween capital and labor securing few
or and better business laws and
moulding a better public attitude TO.
ward business so that American in
dustry may be rid Of it's harassments
and made strong for the trade fight
after the restoration Of peace.-Indus-
trial Conservation, Ne1o YORK..