From Our Own Correspondent, Tokio, Jan. 9.
In a recent pronouncement Baron Takahashi, Vice-Governor of the Bank of Japan and President of the Yoko-hams Specie Bank, emphasizes the fact that while the economic position in Japan has been developing in " healthy manner, the public generally is under the impression that inactivity still prevails, The explanation of this feeling is that the public confuses normal and abnormal conditions. The demand on merchandise and capital has not been 80 heavy of Into a it was soon after the war, bat the economic conditions during 3,210,000 307,990,000 177,950,000 1 909
4,700,000 370,650,000 228,480,000 *(Up to October)
Taking again the case of banks, railways and shipping we the following Banks. Railways. Shipping.
Yen. Yen. Tons (stre.) 1903: 376,890,000 214,120,000 657,000 1906 401,450,000 228,300,000 1,034,000 1907: 445,180,000 128,390,000 1,109,000 1909 481,700,000* 130,620,000 1,182,000t ("Up to October.) (tUp to September.) off in the last two returns Japan's material Foreign cntter, daily wage. Y.1.50 2.85 3,02 3.08
80s. Y1.45 Y1.56 1.48 95s, 958. 97.58, ¥1.00 80s. 83.55, 88s. 90s. Matmaker 57s, 658. 57s, 658, Joiner... 958, 828, Y1.01 Y1.01 Labourer Gaily) 528. 478, 57s. 58s. Man servant, monthly wage... ¥2.50 ¥2.87 Y3.75 Y4.22 Maid......¥1.78 ¥2.62 ¥3.00 ¥3.22
Il be observed that every one of the above artisans or labourers is to-day in receipt of higher wages than he earned at any time in the past, not excepting the season of the post-ballam boom. At the same time, he is buying his rice much cheaper than be could get it at any time in recent years, and therefore obviously incorrect to the year just ended were more active) di has soffered any check. allege that the artisan and labouring than those of the years before the war. the matter of the prices of com-classes are suffering from depression, If we look at the Budgets for the past there certainly has been a The fact seems to be that an exception-few years, we find that la 1903 the di munition of late, but still the average lly economical mord has overtaken the Revenue of the Treasary totalled only figare is higher than that recorded in the nation and that men are devoting their 260 million yeo, and the expenditare year before the war, as will be seen from whole attention to saving money. This 249 million yen, whereas in 1907 the the following tal belief is borne out by the following corresponding figures were 857 millions table, which shows the amount in the and 620 millions. In the two years of Average prices the Rosso-Japanese war and in the two of commodities, post office savings banke year by year: years immediately subsequent to it, Year Millions of yen, exceptionally largo sams of money found 1903. " 31 their way into the hands of the people 1906.., and produced a fictitious sense of 1907... economic activity. Both the revenue The only staple which does not fall 1909 (up to October) and expenditure of 1909 stand at into Tine with the above analyses is 618 million yen and are leas rice, The figares per koku (about five Tarning now to the banks at largo, than those of 1907, bat they are bushels) for this arti the following table shows their total deposits and their total loans year by corresponding figures for the year 1903, still almost szaclly double the year the year before the war. In consequence Deposits Loans of the redoubling of administra Millions of 40, Millions of yen, penses, the burd in In order to bear the increased burden, says Baron Takahashi, Apropos of the above, Baron Taka-Japan must work hard and economize, ohashi points out that the price of rice If the nation follow this course, produc. rose to an abnormal figure during the Of course, the most palpable discretive power will increase; and if produc war, owing to the Government's policy ancy appears in the realm of Japan' tive power increase, we must endeavour of purchasing withia the country all debts. These totalled 538 million to promote foreign trade. How far the the rice required for the uses of the 1903 and stood at 2,586 millions in Japanese nation has worked bard and army fighting abroad. The cessation October, 1909. In word, the figures increased productive power of that abnormal demand, exceptionally more than quadrupled in that interval, foreign trade returns, subj fine harvests last year, and the price of Summing up the above facts, Baron in the world's market have now Takahashi says that were it trae, driven the staple d ya, bat it is some people assert, that the nation is erroneous solely to at! bute this downweighed down with " load of debt and moverment the domestic with heavy taxes, the fact would be depression, shown in a diminution of business Foreign trade last year was smaller The next question ken up by Baron enterprise. The very opposite, however, in volume than that of 1906 and 1907, Takahashi ie that of wages. He gives when the post-bellum boom was at its the following table height together with international actiy-For ram Broop us tae Liv ity, but it is palpable that Japan 1903. 1906. 1907. 1908.
Carpenter, the blood is Inden with impos foreign trade made a considerable stride daily spreads disease as it circulates through in 1909, if we take 1903 as a normal the organs of the human body—Lungs, year.
858, 97.85, Y1.00 ¥1.08 Heart, Stomach, Kidneys, Brain, Turning now to the important topic
Text read from the printed page and cleaned; old type leaves the occasional error.