Evening star., 1932-02-09
NEW BOOKS
AT RANDOM
I. C. M.

JAPAN: An Economic and Financial
Appraisal. BY Harold @. Moulton
With the collaboration Of Junichi Ko
Washington. D. c.: The Brookings
Institution.
When the bulk Of general thinking
and concern comes to focus at some
vital point in the affairs of men and
nations, then Is the time of all others,
SO both professional and layman agree,
for q resurvey, even for a new study,
of the critical hour and area involved.
For, with the passage Of time, world
matters shift their points Of stress, OF
emphasis. Proportions, therefore, change
accordingly. Old significances fall to
the rear. New ones step to the front,
momentous and demanding. Fresh in
terpretations must meet the changed
order.
Clearly, Japan of all peoples consti-
tutes at this moment the worlds imme-
diate problem. At war with China, 1t
avows on,Z an intent Of peace. OF
righteous shborliness with that coun-
try. Tc 4. World Council, protesting
admonisahfs. offering accommodations
and solutions. Japan gives suave agree
ment and compliance. But each day
the war Is pushed toward its own war
like conclusion. The press makes diarial
reports Of military moods and maneu-
vers in the Far East. Reports also the
perturbation, distress and confusion OF
world itself ovas the hard fact that
theories Of peace, spiritually founded
are but scraps Of paper in the eyes OF
an age that courss economics and
finance as its first end most imperative
concern.
War Is but 1ioyering from old roots
and stems of C9sse and circumstance
An evil bloom, - be sure, yet there is
an old saying that men do not gather
figs OF thistles. Nor do they gather
peace and brotherly love from emu.
lation, overreaching. jealousy, dislike
and hatred. War has had many foun-
dations-religion, policies Of govern
ment, lust Of power and possessions
sharp inequalities that separate the
affluent and powerful few from the i'm.
poverished and helpless many. Othel
causes, too, but each war has risen from
its own surrounding conditions working
for relief, righteous or otherwise, in it.
purpose and progress.
The world today is almost wholly OF
economic texture and design. The max
ing of things with the wide Distributing
of things, this the supreme preoccupa-
ton of the age itself. Widely separated
populations have been brought close to-
gether by the marvels of modern COM
munication. Modes and manners and
tastes have promptly commingled With
in the vast neighborhood Of man. In.
dustry has widened swiftly to meet the
new issue. Natural resources have been
tapped anew for fresh and greater out
put. Scientific chemistry is rivaling ma.
ture itself in astounding synthetic per-
formances of common usefulness. Other
forms of applied science are working
wonders in the plain business of every.
day life. Industry in values and variety
has multiplied within a few years be.
yond easy appraisal and appreciation
And transportation has had to keeI
step with this amazing expansion. The
making of things, the distributing oi
things, this the true essence of modern
times. And this is, broadly speaking
economics. Almost. Not quite. Money
is also component, fundamental ir
the great process. Production, distribu.
ton, money. Economics in skeleton.
Back to Japan waging a war, clearly
economic in source and objective. A
few islands, little islands, packed witt
humanity. Outlet imperative. Matt ,
resources prime necessity, for the ere
alton of industry to keep the man
power productive in the way of great
commerce to be developed. And, right
across the way, Manchuria beckonine
with natural wealth. Treaties and dip
lomatic agreements are man-made
things, frail as their sponsors and Gre
ators. And just over there is Man.
churia, bursting with God-given largess
yet lying neglected and unused.
And, so, the trouble began.
But how little we, the average, know
of this immediate economic drive at the
yitalS of Japan, sending the islands ou
to gather, where they might build, from
seemingly abandoned areas, vast anc
promising. A vision of a great COM
merce no doubt arose, a dream of col
-somewhere?-to take the over.
flow Of population that 50 presses Japan
to take the surplus Of trade as well
a part of it.
Here IS a book for immediate study
of the economic and financial status
of Japan at the present time. Issuing
from a source Of dependable authority
and from specific authorship of thor
ough information and expert treatment
Japan: An Economic and financial Ap.
praisal." becomes for the student Of
current history text book Of excep-
tionally high quality. First, it is simple
That is, it is the relatively simple pro-
lection of a subject essentially COM
plex and puzzling to the commonalty
But these authors have wisely made the
effort to subordinate the more intricate
phases of finance in their desire to meet
the need of general intelligence in the
study of a subject that is daily becom-
ing q part of public elementary educa-
ton. So, in not too abstruse manner
Mr.. Kunichi Ko, chief Of the depart
ment of economic research OF Japan
has collaborated with Mr.. Harold Moul-
ton in making both clear and authentic
this outlook upon the subject in hand
An orderly survey. And that. too, con-
tributes to the general clarity of the
whole. Beyond a short, but most in
teresting, historical sketch of the
islands, these authors outline the eco
nomic development of the country. The
industries, built upon natural resources
are briefly named and described. The
Transportation facilities railways, ocear
traffic, public roads and airways-are
pictured. Various industries, domestic
trade bodies and financial organization
are summed. The system Of public
finance-local, colonial, nationals de-
fined. The debts accruing from these
separate divisions are analyzed ane
made clear. Foreign trade plays ar
important role in this study. So doe!
the subject of international financia
relations" The third division of tht
investigation and report is both i'm
portant and interesting, an illuminating
part of the whole. For it combines al
that has gone before into a single bod!
of related parts, into competent inte
grafton of the whole 1t gives beside.
an Interpretation Of this whole In rela
ton to its true significance in the eco
fo nf