New-York tribune., 1922-09-10

i fact the basic, reason for this is that
the first question with the Chinese
trader is not whether he handles Jap
anese goods or American: it is How
much is there is in for me?"
In 1910 Japan sold to China goods
] the figure rose to 1f4,00o 900 yen. BY
1917 It was 3is,000,0oo yen And in the
/ year 1919 our exports to China amounted
in value to 447,000,0 900 yen--the high
est amount up to that time.
Trade With China
This year, in the month of June.
Japan's EXPORT trade with China I'M
proved good deal over that of the
same month of 1921. And, the total ex-
ports to China for the first half of this
year amounted to 154,295, 900 yen, which
compares we'll to the showing of the
similar period of last year, namely,
14o,917,ooo yen. Our Imports from
China, on the other hand showed a
slight decrease this year, compared to
THAT of 1921. They amounted to 80,267,-
600 yen. Therefore, we sold to China
nearly 100000 yen worth of goods
more than we bought from her in the
same period of time. In other words,
our exports in value were more than
twice our imports, in the first six
Il
Our trade with Great Britain is not
as important as our American and Chi
nese business. Nevertheless, our ex-
ports to Great Britain increased 1867
per cent in the first half of this year,
compared to the figures of the similar
period of 1921. Our export trade with
Europe in general has made quite as
Sensational showing as our British
export business.
t !
why our foreign trade is looked upon
as such an important standard of our
prosperity:
japan is coming more and more to
live by her foreign trade.
In the first year of Meiji (1S63 A. Do
the exports of Japan amounted to about
15,500,000 yen and her imports stood in
the neighborhood of 100000 yen.
Within ten years they doubled, and in
1897 her foreign trade stood at 100000
000 yen. In 1905, in the year of the
Russian war, it rose to So0,G0o,e00 yen
and in 1918 it passed the 3,000, ,00o, 900
1 yen mark and stood at 3,031 900 900 yen.
/ Our foreign trade, therefore, has grown
113 times since the new Japan joined
/ the family of nations. Here is record
which is remarkable in any country at
any period of the worlds history Back
of this astounding growth, there is a
fact as fundamental as the very econom-
ic life of Nippon herself: Japan has
been evolving herself out of mere
agricultural country of the good old
days of the Shotgun and of the hand
worked paddy fields into CONNER
cial and industrial nation.
Rising Imports OF Rice
i Nothing, tells this story more elo-
quently than the figures of the inn
portatIon of rice into japan. In 1915
Japan imported rice valued at 10000
yen In 1917 rice imports were valued
at 6,500,000 yen. In 1918 the value Of
rice imported into Japan rose to &c.
100000 yen and in 1919 the amount
was a little less than twice that
l60,000,000 yen. This is the sort of
; economic fact which makes students of
the industrial life of Nippon declare
. that Japan to-day is precisely where
England stood IN 1846.
Japan is so sensitive of her depend
ence on her foreign trade that when
J ever the excess of exports over imports
is reported. it has an instant and en-
phatic effect on the security prices on
the Toxic Stock Exchange.
This sensitiveness is at present
possible And for the following
reasons:
} Industrial Japan has been suffering
from ever production aver since the
) close of the World War; it is suffering
to-day. She has more goods in store
now than she can digest; her factories
{ are producing more goods there are
4 demanded. The government is solemn
ly discussing all sorts of means to en-
courage the curtaiiment of production.
The silk people under the leadership
Z of the Teikoku Sanshi Kaisha--a semi
q governmental organization called into
E being for the regulation of the silk
I market--are trying their best to- stabi-
lize the price of raw silk by regulating
production, All other lines of pro-
t ductive industry in Japan are center
ting their efforts along the same d.
rection. What Japan is suffering is the
: |same sort Of experiences through which
: industrial America has passed. The
: World War expanded the pro-
q ductive facilities of Japan enormously
The after-the-war sudden decline of
t demand brought with it what every
!, sensible business man thought that II
I, would bring.
But the expected came and took
almost everybody unprepared. Eco
nonlic Japan has not a monopoly on
!. this stupid surprise at the coming of
: the expected and inevitable. However
there is this difference between the
United States and Japan: America was
., in much more excellent position to
stand the shock than Japan--because
of the soundness Of her finance, be-
: cause of her tremendous material re-
sources, because Of the magnitude and
smooth working of her industrial
! machinery and organizations.
, Without Experience
IN all these things Japan found her
: self without any such resources, organi-
{ nations, experiences such as America y.
America had the courage TO face the
/ situation, add up her debit column
. and pocket the loss. Japan has not
done this as yet. And like a patient
! in dentists chair, the delay i" not
, adding TO her financial and industrial
{ comfort Like all young things, she
is trying her best to see whether she
| Ecannot escape the inescapable by
], doing something heroic or by simply
. trying TO sit still aid waiting for the
n gods to come to her assistance.
This, then, is one of the chief rea-
sons why that at this present, juncture
J her eyes are so feverishiy on the ups
and downs of her foreign commerce.
For even she has been forced to admit
; that salvation is not likely to come
. from domestic demands. Foreign mar
kcts are the only place where She can
hope TO dispose Of her surplus wares.
4 When in ,fuly 4hawefnra +La .~nx.J