Japan is ready to rush marines, at' a moment to Shantung is is received that oer their interests fare endangered in that province of China, Although, owing to domestic Political reasons, the Premier did not previously endorse such a step a3 is now proposed, the War Ministry has been very uneasy over the surrender of Hsuchow by the Mukden forces and declares that the the close of last October, the national debt, according to official statistics, stood at Y. 5,198,000,000, fon which the Government had to pay Y. 257,000,000 as interest year, this amount being nes third of the annual revenue of the whole country. In March, 1917, Japan's national debt was Y. 2407, (000,000, the figure having more than doubled within a period of ten years. It should be noted that Japan, though on the side of the Allies in the last war, was, to all real intents and purposes, practically neutral and reaped a golden harvest during the war years, emerging after the confiet into! a nouveau vielle.
When the war prosperity babble! burst, depression sot in and easy money no longer was coming in. The authorities grew alarmed over the debt increase and established 9 aystem of redemption absorbing one-fourth of the annual surplus, but the national debt increased steadily, especially after the 1923 earthquake and the loans necessitated for reconstruction. 'The present Government, pledged by its party platform to a' policy of industrialization, is redeeming its promise, but with the aid of borrowed money. The "Osaka Asahi" is responsible for the statement that the Finance Minister has obtained loans to the extent of a further Y. 470,000,000 this year, so that the end of 1927 will see Japan's national debt rise to Y. 5,550,000,- 000. If, further, the compensation for the losses sustained by the Bank of Japan, in connection with the relief of the Bank of Taiwan, and other emergency payments are added, the debt will be increased by a further Y. 500,000,000, so that, when the year closes, Japan's nation-debt. will be in the region of Y. 6,000,000,000, necessitating payment of interest amounting to Y. 300,000,- 000. annually.
The "Osaka Asahi which fears that, if cris rot not stopped, Japan soon may *become an insolvent nation, says that Japan should cease negotiating foreign loans, "not out chauvinistic patriotism, but since undesirable to raise'a loan in foreign market when the nation in adversity, because the effect is destructive of national credit."
Indian's Cotton Taritt The approaching session of the Indian "Legislature again has brought up the question of India's cotton tariff Japanese manufacturers fear that the higher tari en-Toreed by the Government of India against Japanese cotton threads sill bbe extended to cotton cloth, and declare that they have received 'e-Ports from India that systematic preparation is being made there to bring the matter up at the December session of the Indian Legislature, with a view to enacting a Bill intended to raise the tariff levied on im- Ne ported foreign cotton cloth.
The Jo nese press declares that Be" the situation is alarming, and.ssys thal 1 policy in the part of India, if enacted, will not only deal severe blow to the Japan cotton. industry, but also will adversely]
ties of this: country. "The immediate effect of the tariff on cotton:-threads September last has been, ac-Jeording to the Japanese papers, a marked decrease in the quantity. of jan's spinning exports to India. ['in "October, 3485 bales of-cotton thread -were- exported: and in "Nov-jamber only 1:844 bales, 2 decrease] directly attributed: to the September:
Text read from the printed page and cleaned; old type leaves the occasional error.