Martinsburg W Va evening journal. [volume] (Martinsburg, W. Va.) 1913-1920, 1918-11-26
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years she expects to produce 100000
tons of iron and 2,140,O0O tons Of steel
annually. Japanese capitalists have
proposed that they finance the opera
ton Of certain iron mines in Canada in
order to assure their manufacturers Of
ample supplies.
For the last three years Japan has
been benefiting from Germany's with.
drawal from foreign trade. She has
benefited in the first place by being
forced to find at home or to produce
herself the raw materials and finished
products which Germany supplied, and
again she has benefited by selling her
own products to countries which for.
merly bought from Germany. Japan
is making every effort to keep the buy
ing worlds attention upon herself, and
new enterprises are constantly enter
ing the field formerly dominated by
the Germans. Because of their imita-
tive skill and their supply Of cheap
labor the japanese are particularly
well equipped to compete for this kind
Of business.
The scarcity of dyes has been felt
very keenly by the textile industries
Of Japan and for the last three years
the Government has been encouraging
the formation Of dye Industries by
granting subsidies. The amount OF
the subsidies is sufficient to enable
the companies to pay dividend OF .
per cent. per annum on their paid-up
capital, and they are to be given for
period of ten years.
Unprecedented profits have been
earned by the shipping companies as
result Of the increase in feeeign trade,
and the building Of additional tonnage
is going on at top speed. Practically
every one of the owning companies
has increased its capital with the pur-
pose Of making extensions. Several
new routes have been established.
In response to protests against fur
Their subsidies the usual subsidy
period of four years has been divided
and the present allotments will run
only to the end Of next year. With one
exception the amounts have been re-
duced. The Government maintains that
the subsidies are necessary offsets for
special obligations and burdens which
are imposed upon the shipping COM
panies in the interest of the Empire
as a whole. The idea that subsidlza-
ton implies rights Of supervision and
regulation il being carried out In all
new enterprises to which the Govern
ment gives financial assistance.
The close and necessary relation be.
tween adequate banking facilities ana
the expansion of foreign trade Is rec
ognized in the arrangements which the
Japanese are making to have branch
banks at every point where their mer-
chants touch. A banking commission
recently completed a tour OF South
America and decided that BANKS
should be established at Santiago, val
paradise, Montevideo, Buenos Aires
\ Rio de Janeiro. Sac Paulo, Para, PER
nambuco. Bahia and Manaos.
i The Yokohama Specie Bank has per
/ fected arrangements for regular ad'
vances to Japanese merchants In the
United States, Hawaii. Canada, hue'
nos Aires, Rio de Janeiro and Java
The Industrial Bank Of Japan mas
been accorded the privilege Of issuing
loans guaranteed BY the Government
and II to cooperate closely with the
j Oriental Industrial Development Com
J, pany, private concern, which recent
lily increased its capital from $1,6oo'ooe
y to S1O.OOOO0O.