To the Editor of the "Normi-Cmxa Dany News"
Si—That Japan will win the bails, ba not the war, seems to be opinion commonly held' by fore feign observers who elleve'thet the apanese economic structure is more beries bull on feet of clay."
There is also the belle! that China and japan will bots suiter greatly {from the present bestilles, but that Switl be China who will be able Fecover more easily because of her Kes intricate ceonornie ite, "Authough I do not claim to began expert on such matters, T should ike {fo express my views on the subject "Ge cams "of your "seemed "The supplementary military budget, it "rust be" recalled, totalled move than "¥-2.00,000000 and. passed the Diet on September 6 without a single dissentient vole. Foreigners _un-'Sequalnied with the various expect of Japan's national economy. believe {hat this colossal amount would fine mediately pauperize Japan, which annally feels cancer over the las Tloughly speaking, China's military expenses are only tenth of those fof Japan, but her casualties are ten {imes' as' great. Since the hostilities
economic' losses are' increasing' day are, being acrid oon China, her night, estimated that evan during the past one month of hoslitien China sustained a staggering conor loss. "Whereas this immense sum will probably be never recovered, Japan's Fllltary expenditures will also serve provide employment, For Japan's expenses toa large extent are those {or the. transportation of troops. to the front, relief for the families of men killed in action, and Increased {rants to the enlisted men. In short, the money is mainly spent within the country.
'Since the establishment of Ma: choukuo, Japan has been spending 'Snnually' between" ¥.200,000/00 and '¥300,000,000 for economic construc~ tion, The investment of these. funds in the New Empire, wilh which 3 considerable amount "of railway equipment thos been purchased from Tapan, has Jed to a wave of prosper ign several branches of Industiy.
"Moreover, there is now a plentitude of capital available for Invest iment. 'Thus, for Instance, the. postal savings deposits, a large' portion of which is available for immediate me Vestient, reach ¥.3,00,000,000. made {Up of small deposits, while major Danks hold deposits totalling ¥.13,- 400,000,000, according to figures' re~ eased in May. So plentiful is avail-span that state bonds churia Mallway Company pay an Interest of 43 per cent.
Ti comparison with these avallable funds. for Industrial and other uses, the. ¥.2,000,000,000 recently. appro" Dilated for military expenditure Pot a sum so colossal as is generally Also Worthy of note is the absolute rational unity with which the nation {ready at any time to. confront a crisis, Tt will be "recalled. that the Diet has always been the scene Internal squabbles, but these have] been promptly abandoned whenever Sepan faced 2 national crisis, Thus it-was during the Sino-Japanese war} of 1604-95 and during the Russo-Tapanese war of 1904-05; thus it la every crisis in the past, the! complete national unity exhibited by he various political factions has been source of amazement to the enemy alvwaye been instrumental in inging about the nation's early and thorough "recovery.
Material damage suitored by Jypan tu the Great Earthquake and fre of September I, 1923, was estimated the time. at more than 10,00,000,000. When calculated i terms of to-day's yen, the same damage would roughly Emount to ¥-40,000,000,000, recall the terrible conflagration which followed "the "earthausk Tokyo. Every. structure in half of the Capital's area was reduced to thes, while two-thirds of the city' population were left homeless. Por fio days the holocaust raged, redue-Ing to aught the homes and all worldly possessions of two million] people. But undaunted by this dis: Ester, the Japanese people, within {few years built a Tokyo more splen-than the lly of old our people should ai to understand the significance and gravity of {he present incident and celebrate their hard-earned victory by. luxury fous ving. Japan " will meet with {totally unexpected didtculties.
Fortunately, however, the Japanese people fully Fealize that the current {alamity has been brought about by the mistaken attitude of the Chinese authorities for many years past and they. are now determined to go to the Umit If necessary.
"That. such sri understanding and determination Teally exists is clearly Shown by the fact that contributions fof the people to the Aray since the {neeption of the incident have already
Text read from the printed page and cleaned; old type leaves the occasional error.