South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-06-30
JAPAN'S BUSINESS
OUTLOOK NOT GOOD
Governments Policy of Main
tanning High Prices Meets
Severe Condemnation.

business IN Japan continues dis
quoting" according 90 the annual
report Of T. B.ckart. chairman u
the T0szio- Yokohama foreign board
- trade. The year has not been go
bad as was anticipated he pointed
out. the volume Of business was.
smaller. but with fewer claims on
account OF exports and better deliv-
cries OF imports.
In most countries considerable de-
cllnes IN values have followed the
war boom. and wages have been
drastfcaIIy cut but IN Japan the
contrary exists; wages IN most
cases are higher than ever. ana
there Is no tendency 70 lower the
cost OF living. white japanese goods
are generally OF a very inferior
quality.
Blokart condemned disturbed la
Dor conditions. the spirit OF gam
bling. the governments policy Of
trying % maintain high prices. the
work q customs officials and the in
efficiency OF the postal department
a. adverse factors which firms do
ing business have 20 contend with.
Gambling Condemned
Among the adverse conditions IS
tho spirit Of gambling which 20 a
consid cradle extent has been encour-
aged by the ultra-prOtectiOnist pol
Icy pursued by tine Japanese gov
eminent and seriously interferes
with the transaction Of legitimate
Ia A. Ia
port The manipulation OF the raw
silk market is a striking instance Of
what e poss Ib1e when the govern
ment decides that the price or any
article Is 20 be maintained on an
artificial level The law or supply
and demand IS II u permitted 10 gov
= ern the regulation OF values.
THE government officials are
ciamorins loudly for the putting
forth OF all possible efforts 10 re-
vive the export trade, which has
fallen off 20 a serious extent. AS
means 20 this end they advocate
lower cost OF production and better
workmanship; but 10 what extent do
they assist IN the attainment OF this
desirable result? Their policy has
generally been directed 10 the main
tenance OF prices at a level which
viii save from loss those gam blers
and profteers who were not able TO
dispose Of their holdings when the
crash came IN 1920
Tariff Considered
Calls for upward revisions OF the
customs tariff have been sympathe-
ticaIly considered, and combinations
q manufacturers with the object OF
restricting output and maintaining
prices, have received official sup
port IN many instances. When we
find the government 20 actively in
terested in preventing any decline
in probability Of an early recovery
Of prices u IS eXcusable to lose
faith IN those foreign markets into
which Japanese goods penetrated
during the war period and which
markets are now being recovered by
their former supphers-America,
England and Germany.
Manufacturer appear 70 md Il
fnpossFbIe to realize that the ex-
Aceptional advantages which they en-
D5oyed during the war exist no long
er and to grasp the fundamental
idea that only by a readjustment OF
their business methods can they
hope to retain any OF the ground
gained during the boom period.
Ilured BY Profits
The lure or large profits still OBJ
sessea them. The idea OF working
for n reasonable profit Is repugnan'
70 their minds. Until there IS radi-
cal alteration IN this respect the
future can hold but little hope.
"The total trade Of Japan tbs
Last year was 2,866.992.54T, a de-
crease or Y1.417. 576.S45, or nearly
so per cent Exports amounted "a
" 252 837.715. Of ~ per cent OF the
whole. while imports totolled VI
614154.S32. or SIS per cent Of the
whole. Exports fell OF Y695.556,
S96, a drop OF IS per cent from the
1920 figures. while imports were
Y772.019.949 less than the previous
year. a decline - about 80 pei
cent"