"Will juvenile vigour be recovered coven if this reaction be overcome and post-quake reconstruction be aecomplished?" asks the Oriental Economist which replies in the negative and declares that "no ray of hope of such vigour ever being recovered can be found. Production does not increase and prices remain exceedingly high. The markets that Japan had overseas are being captured or undermined by foreiga competition and exports are shrinking. Even though there is a high tariff barrier, the import trade continues to be as active as ever. The bank rates and house and land rent are exorbitant; a large part of the income of private folks goes to pay house rent; and a large part of th house rent is really land vent; while those who are victims of high interest rates and high rents recover their losses by charging high prices for their services or their goods.
"This is a vicious circle in which all eat up one another to the destruction "of everyone and everything."
Hints at Revolution:
After inveighing bitterly against such economic tendencies, and declaring that the "mutual eating fof one another" is suicidal, and is, fink of the well we have hat benest do. we derive from compatriots. alga seem 'A large number of out grown hi' wife are foliose interest in fcolution "of the State Te the, ella the Diet" or the "Government, and. the ceased to, hope
he Faye come to matters, ere in very serious condition Indeed"
Readjustment or Revolution 'A phrase often on the lips of ora of all classes to-day is "Second rear Readjustment.
The first was the restoration of the Imperial Famil ly to power, which occurred about the time Commodore Perry knocked at the closed doors. of Japan and wi largely prompted by the presence of the foreign devils" with th it "black ships" off the rock-bound coast of Nippon.
The Japanese do not lik to regard the processes whereby the Shoguns were forced to abdicate in favour of the Emperor a revolution. They profer to regard it a read-Justmentt and a readjustment i Inrgely proved to be.
The period immediately preceding the Meiji Restoration and the end of Shogunat rude says the "Oriental Economist," wat one of tha greatest impasses in the history of Sapa Economic development had gone as far as it could under the feudal system and this was the fundamental ca of the prevailing, unrest on the part of the people and the loss of prestige the Shogunate Government sustained, which determination of Commodore Perry to have Japan unlock her doors intensified.
Thinking peopl re inclined to the belief that Japan has arrived now aat a similar impasse. They point out the parallel of general restlessness, intensified new by economic ills and, to some degree, through the American exclusion legislation.
Tt is said that America prompted the first "readjustment" and it is being asked whether America will be the instrument whereby a second "readjustment" will be effected.
Imperi Must Go.
"What shall it be—readjustment or revolution?"—asks the "Oriental Economist?"
"What impediments for obstacles have to be demolished, and what sort of a new world do. its advocates propose to have instead? The answer varies, but one clear under-note is discernible—impenalism mus go and purified liberalism take its place and be the basis and the pivot of all the country's policies, both domestic and foreign. vinweer Sine posi "Generally speak
hecte at! Saar Stapected. that. the wine fehatar tiers were numbered: The sea ligt ated ening of the.
cee who nets entry to foreign inter-own the feudal system and to ARhGae ala che
Text read from the printed page and cleaned; old type leaves the occasional error.