New-York tribune., 1922-09-10

enough to forget) what sort Of show
ing the month OF July it faced year
ago. Instead of an excess of exports
over imports the month of July, 1921,
showed an excess of imports of no less
than 1i,IS0,000 yen. 1t is break of
blue along the Western horizon, this
favorable trade balance of July, which
gladdens the heart of commercial
JAPAN.
And this prophecy Of brighter day
to come is foundationed on q pretty
sane and solid ground:
The improvement of business condi-
tions of the United States, of India
and of England.
Il IS based also on the improvement
Of the trade relations between Japan
and her Chinese customers, even if the
political and economic conditions of
China are not the happiest at present.
IL. s. Is Best Customer
With Japan the consideration of the
American market comes first of all for
the simple and all-sufficient reason
that the United States is and has been
for years past the best customer of
Japan. AS early as May of this year
the decided improvement of American
business conditions came out emphat-
icalIy, so far as Japan's trade with
her was concerned. In that month
Japan sold 10 America goods valued at
$29 ,692,980, according to the Depart
ment OF Commerce at Washington.
That was the largest amount of bust
ness Japan did with the United States
in single month. since the beginning
of the year. In the same month Can
ada ranked second only to the United
States as q "hower customer" of Ja-
pan--Canada outranked the United
Kingdom. And this is significant. 1t
shows that the hrst substantial ray of
the world financial and commercial
salvation came from where it should
come in the natural order of things
from the North American continent
This was great tiding, of happy omen,
more especially for Japan.
According TO the statement made by
our new Minister OF Agriculture and
Commerce Arai, in the middle of July
the export trade of Japan with North
America for the first half of 1929 in
creased A5.4 per cent compared with
that of the similar period of 1921. In
the same period of time, that is to
say, in the first half of this year, the
export trade Of Japan to Asiatic coun-
tries increased by only per cent
And this remarkable showing is al
most entirely due to tho purchase OF
silk by the United States, which began
MS early as February and became rather
pronounced by the middle of March
and kept steadily on into June. In the
middle of February Shinshu No. was
changing hands at 1850 yen per 10C
kin. BY the close of June, American
purchases lifted the price to the 2,00C
yen mark. There is nothing singular
therefore, that the ratio of increase OF
our export trade with the United
States Is even more remarkable than
that of the North American continent
United States increased in the first
half of 1922 472 per cent, which is
nearly 2 per cent more than that Of
our North American exports.
Cur Chinese trade is next to oul
American trade in Importance. China
is the second biggest customer.
The Chinese Boycott
The reports of the actual effect O.
the anti-Japanese sentiment in Chin,
and of the Chinese boycott of Japanes,
goods have been greatly exaggerated
iii ne United States by the anti-Jap
snte prop agandists.
IS trile, of course, but grea
mn y essoJts were made to fight the
spoannag Importance and magnitude o.
.dafar's n de in the continental mar
Eat as As 4. Some of the foreign mer
s,hartS Err ting the Japanese trade ad
W IKE a q ina have spent more than tel
Eiion zen of secret funds in all sort
ef ways, come of them fair but mos
nf tfen exceedingly foul and cowardly
asstsfdisg TO Mr.. Katsujiro Yamazaaki
pfe#sdJa of the Nippon Drug Com
Pars who made an extended first-hant
study of ae Chinese boycott in Shan
ttsSY and other sections of China
glsr vas nothing unnatural about it
asle Of the European and American
nle = larts found the easy profit il
Chinese trade slipping through thei,
hands largely through aggressive ant
persistent activities of the Japanese.
Being human, they did not like it
Being human, they found it difficult Il
blame the whole thing on the insoient
Incidence Of themselves. They had II
ogit their white fannels and tenni.
courts and afternoon tiffins. if they
were to hold their grounds agains
the keen competition of the Japanese
They found 1t easier TO sit IN tSeil
Iorciy case and accuse the Japanese o.
shady dealings in stealing trade marks
and sailing inferior goods. They fount
i easier TO incite the feverish Chinese
studegts in their anti-Japanese agita
HONS rather Ihdn to hustle with then
aan9ssc cases. They found it easier t.
accuse the japanese merchants Of
ds'ugglug the Chinese people with ar
enormous importation Of smugglec
sssssIn and morphine when tfaay knew
as well as any people in China thai
the Chinese themselves declare openiy
that niose thaa two-Ghirds OF the trade
~ these deadly drugs have been and
arc now being carried on through the
Chinese merchants themselves, who pc,
tlieir supplies from the United States
snd Eu-cpe. These hostile influence
hghting against the Japanese trade ex.
psf.slon n China were wcii supplied
w.sh 1rnds.
Damage Not Serious
Moreover. these anti-Japancse IN.
ifceaces found their most etfieienl
Alhss n The stupidity or the militarist
e:c-&ts6 Diplomacy OF Japan through
L. -. -. 4