Norwich bulletin., 1919-07-19

l: "Sepafated from the scene of the deciding struggle by half the circum- ference of the earth. it is neverthe- less true that of all the chief belIiger- ents Japan- emerges with the greatest proportional, increase of power and prestige, and the best prospect for 1 immediate material gain. Half a century ago. Japan was isolated and unimpoFtant little country, over populated, and ekeing out 2 bare agrarian- existence with little or no
 stands accepted as one of the great l-powers of the earth. Her industrial capacity has boen doubled by the de-
 mands which the far east has made upon her during the war. She is es- tablished in. markets into which she had barely entered at the outbreak of hostiiities. Her expedition to Siberia has given her a sort of prior right in that country when it is finally opened ' fe free trading. and through the Dutch East Indies. Australia. British ! India, and other eastern regions her goods are known and accepted as never before. But greatest of all must stand her new influence in China,
 crowned by the temporary heritage of
 the German concession in Shantung.
 l. Japan has been called the Great
 Britain of the east Whatever of mer- | it there may be in the comparison,
 there is no doubt that her geographi-
 cal position as well as the tempera-
 ment and ability Of her people make 1 it appead that she has barely begun
 to exert her influence upon the world In closing. the bulletin predicts an | inevitable increase in the develop
 nient of foreign markets. stimulated
 and aided by the provisions of the l lea que of nations covenant:
 'The most casual student cannot 1 fail to see that the nations of the al- lies, having eliminated or at least re- duced their chief competitor, are like 1,r T 4L-- tent to which. that of Germany is de- creased plus much of the additional consuming capacity which the world will develop in the ensuing years Granted a rapidly improving morale. the debts which they have assumed in waging the war, while vastly greater than any which have hitherto been chronicled, cannot be called over
 towering Most of the debts are inter
 nal, that is, are owed to persons in
 ments. Their payment will not mean
 the inpoverishment of the nations.
 The external debts will inevitably be
 a stimulus in the forthcoming pursuit
 in a few regions. the mines. the fields, and the factories are intact. There
 has been a loss in man power but it
 is probably very nearly balanced, from a purely economic point of view. by the improvement in productive meth ods which has come about.
 "It will have been noted that all the
 countries of the world are laying great stress upon the development of
 their foreign trade as means of re- gaining their financial stability. What
 ever this may mean in future com
 nercial rivalry, in friction and jeal-
 ousies, it cannot fail to extend the
 markets of the world. to bring a high CT degree of civilization to the coun-
 tries whose trade is the prize. More over, there will exist. in the league of nations, an instruFnentality tending to prevent economic rivairies from ex- tending into the sphere of military ac- ton. The war. if it has taught any one fact. has proved to the world its economic inter-dependenee. Debtor nations cannot afford, and creditor nations cannot allow developm enfs such as those which brought about the upheaval that is now subeiding."