Cayton's weekly. [volume] (Seattle, Wash.) 1916-1921, 1918-04-06

1913 America was Japan's best customer
taking from her goods to the value of 1884,
100000 yen. China came next, absorbing
goods worth 154OOO,OOO yen. France took
6O,OOOOOO yen, Great Britain, 32OOO,OOO;
Italy, 29,OOO,OOO; British India, 100000;
Germany, only 100000 japan was also a
good customer Of ours, taking goods from
us worth 22,OOO,OOO yen, as compared with
173OOO,OOO from British India, 122 100000
from Great Britain, 100000 from Ger
many. 65.OOOOOO from China, 37,OOO,O0O
from the Dutch Indies, 24,0OO,OO0 from Indo-
China, 100000 from France, and 100000
from Italy. In the mercantilstic terms that
still pass current among statesmen, the Uni
ted States and China are the chief factors
making for favorable balance in Japan's
trade although France and Italy range
themselves on the same side of the balance.
The trade Of the Indian Ocean and the trade
with Great Britain and Germany make for
an unfavorable balance
But national economic philosophy occupies
itself with the qualities of imports and eX-
ports well as with the quantities. One
country imports food stutfs, raw materials
and other means of production another i'm
ports luxures and highly finished products.
National economics adjudges the major adj
vantage to the former Laissez-faire econo-
mics do indeed deny that the advantage can
be alocated in this way, and they may be
right. But laissez-faire economics does not
dominate the statecraft of either Japan or
America. Both nations survey the qualities
Of imports and exports with great solicitude.
Now, from this point Of view, the advantage
Of trade again lies with Japan What she
exports to the United States is mainly silk,
125,O0O,OOO yen out of 1S4,O0OOOO. Tea is
her next largest export with 100000 yen:
miscellaneous manufactures make up most of
the rest. All these goods are luXuries, the
product OF much labor, making only an in
significant drain upon the natural desources
OF Japan. What Japan imports from the
United States is raw cotton, 64OOO,O0O yen
out Of a total Of 122 OOO,OOO; wheat, $780,
600, and for the rest miscellaneous mate
rails of production. In other words. what
Japan sends to enriches our consumption;
what we send to Japan enriches her produc-
ton. We send Japan raw cotton to be work
eel up into cheap stuffs Wherewith to supply
the China trade; Japan sends us raw silk
to be worked up into products wherewith
to display our own wealth to ourselves
Moreover considerable fraction of the
Japanese silk exports credited to France and
Italy are destined ultimately for American
consumption. 1t may be predicted that after
the war we shall be of still greater relative
Importance to the Japanese silk industry
Europe will not consume much silk, for
while
The trade OF 1913 is interesting chiefly as
1T foreshadoWs coming developments. There
is no question whatever that a brilliant COM
merclal and industrial future is in store for
Japan, II she plays her cards we'll She has
a great industrious population, easily adapt
able to all the requirements of trade and
industry. Behind her lies the vast Asiatic
mainland, rich in labor power. It has been
held back solely by want Of enterprise and
capital Japan is rapidly developing the
necessary qualities of enterprise. She is
accommodating capital, but for the present the
rate OF accumulation is slow; Japan is poor.
America, on the other hand, promises to be
for some time the world s chief source of
capital. If Japan can draw upon American
capital to develop the natural resources of
the Aslatlc hlnterland and to develop hef
own industry to a point where full advan.
tage can be taken of such resources he.
economic future is assured. More and more