The figures which have been published the Japanese press relative to the latest Budget are interesting, not only because of the fact that at: about Yen 10,000,000,000 it is the largest Budget the Japanese Government has had to meet, but also because of the deductions which can be made showing jat the hostilities in China are costing the country. The general budget total has been fixed at Yen 3,694,000,000 so that it may be concluded that the conduct of the war in China will it is estimated cost something over Yen 6000000000 for the year. Various estimates have been made as to how much the Japanese venture into China is costing her, and the sum of Yen 10,000,000 has been freely accepted as representing the daily outlay. It is clear that that figure has been a very decided underestimate and that a sum of Yen 16,000,000 more nearly represents what Japan is spending in China each day. It is believed that the total amount of bond issues required during the next twelve months will be in the neighbourhood of Yen 7,000,000,000. According to the "Chugai Shogyo" the finance department "of the Japanese Government contemplates the increase of revenue from taxation by Yen 200,000,000 though this will not. apparently, be sufficient to meet the interest charges on the new issues, and it is possible that sooner or later a radical reform in the system of taxation will be necessary to bring in the needed amount, As it is, it is believed that there will be substantial increases
Text read from the printed page and cleaned; old type leaves the occasional error.