By a stanze ein id-nee the "J: Times" of the sume date rvasous in much the seme manner.
T will us "that thas the from constituting & new only amounts securities whi burden to the count why ty cash they stood lated in the D'p sit Department, have so far formed an obst cle in the way making profitable us of the Gy Does increase Natio al Debt.
I need not print out that, th" Mail" and Japan Times" notwithsts ing, the sie of those bonds the national debt. stood accumulated inthe Depos they certainly did not constimte a debt, but now that they are issued they do, (1) This fiadvertence on the part of the two papers in question is all the more regrettable as it way Tead some people to suspret that all is not right with Japan's finances whereas, on the contrary, they seem to be in fairly good condition. I have just received the 2d number of the Financial ied Annual of Tay Department Finance recording to the figures given in' this' publication, I find tha' excess of revenue o er expenditure int ordinary ace nts during the last six years in round numb rs, million yen.
1896-7
1897-8, 1901-1902 41 while the estimates for the eurent fiscal your ar 1902-19 4s Luse the expression "over expen titure in ordinary accounts " as the post-bel um programme lo-g-ly increased the expenditure in the extraordinary accounts with: ut there being any corresponding, iner the extrwrdinary receipts. Never thei s the excess of revenue "ver expenditure in the total accounts for the same periorl is Yen 18961897, " 18 002 000 1897-1898... 701.000 188-185 e 010 1-99—1900 SI" ss.000 1901901 3,104.00 1901—1902 289,000
The grest extraord4 expenditure necessitated the regular z of los to meet the expenses of the railways telephones, and other public works but this fiscal year there was no need, it is said (semi-officially), to raise a loan, as the estimates showed a revenue "ces" of nearly five million yen, out of which surplus the Government proposed to meet the extraordinary expenditure. This fact seems to show that the finances of Japan are ina healthy condition, as they stand; but it must also be borne in mind that the nation is taxed dang-tously high in proportion to ite means and its resources.
Text read from the printed page and cleaned; old type leaves the occasional error.