Like most islanders the Japanese have always taken rachly to the sea, They ko excellent sailors, and endure priv stares expedition, and terday ya
will go as far as or even still coast altogether talon of the of enterprise hut ever been " part of their national character, and even in the j Middle Ages they ventured to the Phill pine Islands and the Malay Peninsula, But the great desire for exclusiveness which damped their love of adventure checked this habit of wandering and inter-I mixing with other vations, and Japan her own shortsightedness discouraged a icy which if nlluwed to develop might ye long ere this made her the Britain ut the East, a mighty maritime power. scareely 't] Years ago since tive measures fell with the government which enforced them. Ni for compelled to confine themselves to one class vessel, and that altogether unsuited to ocean' voyages, the Intent spi wiventures by sea was once more free to develop itself, and in the course of less than three decades wonderful transformation hus resulted. Japan has made up for lost time and to-day her waters swarm with craft of every description, Hakodate and the northern Kuriles, Nagasaki, and the Loochoos are in constant touch' by fleets of steamers and sailing vessels which maintain regular communication. The far-famed shores of the Tuland Sea, and the placid waters of the Like Biwa, fifty m les from the coast, resound with the ushing shriek, ste To-day in her or are ploughed by the iru bens of eat Britain, last five years will ilustra rapidity of the progress, In 183 total nage entered of was By 1888 this had in creased te 214,165 tons, and last year was. Much of the credit, who started Mitsubishi and whose vessels helped to convey troops during the Satsuma rebellion, Bat it was frou the amalgamation of the Mitsubishi with the Kyodo Un-yn Kaishs, that the magnificent fleet of the Nippon Yusen Kaisha dates i Tt is a fleet of which any nat proud, and a proof what git Japan can make when her own enterprise is guided, assisted and extended by the help of competent Europeans. Last week's meeting was on the whole most gratifying. \Phe year was one of severe loss, for two steamers of 3,856.62 tous were lo-t, and tao sailing vessels and one steamer of 2.573.59 tons were condemned, But for the drawbacks the fleet would have shown increase between September Seth, 1890, and September 30th, 1891, Zrom 46 steam ers aggregating 66,637.32 tons to 50 steam ere with a tonnage of 72,101.82. As it is the tonnage shows a slight decrease to although the number of sternners is 47. The results of the year must also be considered satisfactory. year was exceptional owing to losses, Welays, and the utter disorgumisation of the Shanghai mail service owing to the vexatious quarantine regulations, Yet in spite of this the gross income totalled $5,365,363 and the working expenses 70, thus leaving a hand-for disposal, OF the net ye been written off for the depreciation account, $375,878 placed to insurance reserve, $212,409 set a for defraying the cost of important repair while a dividend of 9 per cent. was declared absorbing $967,000, and $28,860 was car-vied forward, Regarding the foreign trottie the Company reported that the revenue of the line from Shanghai to Virdivostock ei@ North China and Corean ports opened the year before last, waa ate: increasing and was vow on a firm and remunerative basis, The services to Manila \by way of Fouchow and Amoy, and to Towusville, Newenstle, Sydney, Melbourne and Adelaide vid Hongkong, Saigon, Singapore and Java, started sines Inst year, lind shown diminution of lies every voyage, while latterly " small balance of profit had commenced to be shown, We trust th small profit will be found to have consid ably augmented by the time next. year's usual report comes to be presented, Hiogo News.
Text read from the printed page and cleaned; old type leaves the occasional error.