Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-06-21
REPORT SHOWS
JAP BUSINESS
OUTLOOK HAY
Government Policy of Main
tanning High Prices Is
Condemned.

TOXIC. June 21.-The outlook for bust
ness In Japan continues "disquieting,"
according to the annual report Of 1. Bick-
art, chairman of the Toxic Y okohama
Foreign Board Of Trade. The year has
not been bad as was anticipated, he
pointed out the volume Of business was
smaller. but with fewer claims on ac-
count Of exports and better deliveries Of
imports.
In most countries considerable de-
elines boom, and wages have been drastic
ally cut, but in Japan the contrary ex-
lists; wages in most cases are higher than
ever, and there is no tendency to lower
the cost Of living, while japanese goods
are generally of a very inferior quality.
Bickart condemned disturbed labor
conditions, the spirit of gambling. the
Governments policy Of trying to main
tain high prices, the work Of customs Of
6icials and the inefficiency OF the postal
department as adverse factors which
firms doing business have to contend
with.
GAMBLING
CONDEMNED.
almost the adverse conditions Is the
spirit Of gambling. which to g consider
able extent has been encouraged by the
ultra protectiOnist policy pursued By the
Japanese Government and seriously inter-
feres with the transaction Of legitimate
business" he declared in his report. The
manipulation Of the raw silk market is
q striking instance Of what is possible
when the Government decides that the
price Of any article is TO be maintained
on an artificial level. The law Of sup
ply and demand is not permitted to gov
ern the regulation of values.
1.-THE Government officials are clam or
ing loudly for the putting forth Of all
possible efforts to revive the export trade.
which has fallen of to a serious extent
AS a means to this end they advocate
lower cost of production and better
workmanship; but in what extent do
they assist in the attainment of this de-
sirable result? Their policy has gen.
orally been directed to the maintenance
Of prices at a level which will save from
loss those gamblers and profteers who
were not able to dispose of their hold
ings when the crash came in 1920.
TARIFF REVISION
is BEING CONSIDERED.
Calls for upward revisions Of the GUS
toms tariff have been sympathetically
considered, and combinations Of manu-
facturers, with the object Of restricting
output and maintaining prices, have re-
eeived official support in many instances.
When we find the Government so active
" interested in preventing any decline
In probability Of an early recovery Of
prices It IS excusable to lose faith in
those foreign markets into which Japa-
nese goods penetrated during the war
period and which markets are now being
recovered by their former suppliers-
America, England and Germany.
Manufacturers aDOear To find Inn
possible to realize that the exceptional
advantages which they enjoyed during
the war exist no longer and to grasp the
fundamental idea that only by a read
justment of their business methods can
they hope TO retain any Of the ground
gained during the boom period.
STILL LURED
BY LARGE PROFITS,
THE lure OF large profits still obsesses
them. The idea Of working for q rea-
sonable profit is repugnant to their
minds. Until there is radical alteration
in this respect the future can hold but
little hope.
The total trade Of Japan the last year
was Y2,s66, 992. SAT, a decrease Of ". A.
57o,S45. or nearly so per cent. Exports
amounted to Y, 252. s27. us. or a per cent
Of the whole, while imports totalled
T1,614. 154 $50, or SO per cent Of the
whole. Exports fell OF Y6o5, SO, 500, a
drop Of Is per cent from the 1920 figures
while imports were Y722. 019.949 less than
the previous year, a decline Of about 20
Der cant"