! ; DII""•• jAyanlO Gtitgi! Libmy . 1IIIIIIIlJIli . GIPE-PUNE"()S 13511 THE ECONOMIC STRENGTH OF JAPAN By the Same Autho!" THE SECRET OF JAPAN'S TRADE EXPANSION Pub~,hed in Engl;,h in Tokyo in '9J4. P/>. '30. Wi,hIll... "arion.s. This work has been translated into the French, German, Spanish and Siamese languages. Extra~ from this book appeared in the press of Europe, Americas, Asia and Africa. Many newspapers wrote leading articles on this book. Here are some representative comments:-
TIl< Manehe,." Guardian. "nu. [the book]', not to be dismissed idly, for the comparison drawn between Lan cashire and Japanese cotta is skilfully done in such a way 81 to produce a mOlt damaging effeCt; the account of the new technical methods and the statistics of cost reduc- tion arc also impressive. It i.J the kind of propaganda that tells. and it needs to be countered." Od. '7. 19U The Mail and EmpiTe. Totonto. "Altogether Mr. AI ... hi', little book iI worth the con.lcleradon of the Western wodeL" May 3. 1936. The eo". Times, Cape Town. "A book like thill must be very well done to cany convit:tion:' Dec. %8. 19J4. The Standard, Buenos Aires. .. Having opened the small book under notice with. we must confess, some prejudice against the Japanese case. we closed it with the convic.. don that the author has ""debunked" the legend of Japa .. Deae dumping." Od. 22, 1934- THE ECONOMIC STRENGTH OF JAPAN
BY ISOSH! ASAHI
TOlCYO THE HOKUSEIDO PRESS 1 , s, ALL RIGHTS RESERVED, 1939 TO MY FATHER
; l;," -:> T /j. .::. Q lj. tJ· tzQ) oi k 11 Q b' I: /j. b' t.r iJ· I:J. ~ i' H ~~ t~ ~ 11 a I:J. Q) b tI t~ jlij -e:R. 1;. n 1;. ~ 1;. ~ -::>A** ~ IJ.) it '/J' ~ t; FOREWORD In older countries where industrial conditions tend to be static, books on industry may not make any practical difference even two or three years after publication. But in a country like Japan where chaD.ges are almost dynamic, suCh books are often apt to become quickly out of date. SUice the Manchurian Affair of 1931, Japan has made enormous strides in co=erce and industry. Many books have since appeared on the subject-both in English and Japanese. But actual progress in Japan is fast making these books into mere records of the past. In the autumn of 1936, I returned Home from England where I had served as Acting Consul-General for Japan in London, and concurrendy as Co=ercial Secretary of the Japanese Embassy. My own surprise at the development of Japanese industry achieved during my absence from Ja pan made me feel as if I had been an Urashima Taro * my self. Now I am fortunate enough to witness personally from within the changes which are taking shape under the strenuous conditions imposed by the present China Affair. The present book is intended as a rough sketch of the main changes that took place in Japanese trade and indus try during the period 1930-1939, with special emphasis on the conditions brought about by the present China Affair. I have tried to present to the Westem reader, in a con densed, yet comprehensive form, such of the latest facts and figures as are otherwise accessible only to those who can read the Japanese language. Care has also been taken to furnish the Westem reader with data that will likely be helpful to him in finding an answer to the question: Can
• Urubi.. T.' •• kgeadary Japoneoe counter-port of Rip nn WiokIe. vii viii FOREWORD Japan reconstruct China without foreign assistance? He will therefore fine! in the present book an abundance of facts and figures from which he may draw his own con clusion as to the economic future of Japan. My estimates of the national wealth of Japan are published for the first time in this book. In all cases the sources are indicated either in foot-notes or separate notes. A short bibliogra phy is appended for the convenience of those who would pursue further study of the subjects discussed in the pres ent book. The figures contained in this book are cor rected so far as possible by the materials which had been made available by the early part of March, 1939. The present book has further been supplemented, where it was found necessary, by the results of personal observa tions made during a 1,500 mile tour in the countryside of Japan undertaken in March, 1939. I visited a number of fishing hamlets and agricultural villages in the prefectures of Iwate, Nagano, Niigata, Toyama, Ishikawa, Fukui, Ai chi and Kanagawa and saw there many factories, urban and rural. I met village headmen, policemen, postmasters, farmers, fishermen and small industrialists and discussed their problems with them. . I wish to acknowledge here my indebtedness to each and every one who helped me in the preparation and publica tion of this book. Especially, I wish to express my grati tude to Marquis Date of the Department of Finance, and Mr. K. Hattori of the Mitsubishi Bureau of Economic Research, for assisring me in the collection of many valua ble data i to Mr. Katsumi Niiro and Dr. Thomas Bary, Bar rister-at-Law, both of the Foreign Office, for their helpful criticism of the manuscripts; and to Mr. Shikao Matsu shima, Director of the Bureau of Commercial Mairs in the Foreign Office, for placing at my disposal various books and official publications, and alsei for wriring in Japanese characters the tide of the book that appears on the back FOREWORD - ix of its cover. These gentlemen have, however, nothing to do with the views expressed in this book. Those views are entirely mine, and I alone am responsible for them. My acknowledgements are also due to the publisher of this. book. He went out of his usual way to gratify my wishes in many respects. .An instance may be placed on record here. I asked him if he could produce a presenta ble book without Ilsing imported binding-cloth and print ing- paper. He went further than my request. He neg~ tiated with a paper-mill and succeeded in having specially manufactured for this book a class of-paper made for the first time in the history of the Japanese paper-making in dustry entirely from home-produced materials. Hitherto the Japanese paper-mills did not make that class of paper, on which this book is printed, without using some import ed ingredients. The· binding-cloth for this book was spun, woven and dyed in Japan. Thus, without any thought of emulation, I may well have a modest pride in the fact that this book marks., in respect of the paper on which it is printed, a turning-point in the publishing busi ness of Japan.
1505HI ASAHI. EijNkN-Cho, TOJ:yo. March ZZ, 1939. ><_~~.N3 G-':} S-l 'S ~1 CONTENTS
~ I. INTR.oDUCTORY·...... •
. II. THE PR.oBLEMS CoNFR.oNTING JAPAN 6 I. Military Expenditure after the Manchurian Affiw: 7 ·1. Emergency Military Expendiro:e . . • . . . 7 3. Sources of Revenue ...... • 9
m. INCREASED CAPACITY TO BEAR TAX BURDEN "'1 I. Natural Growth of Revenue U 2. Increased Capacity to Bear Taxes 13 3. Future Oudook ...... 19
IV. GR.oWTH .oF NA-x:I.oNAL INC.oME . 13 I. The National Income in '930 by the Cabinet Bureau of Statistics ...... 23 2. Growth of National Income Since '930 ~1
v. GR.oWTH .oF NATI.oNAL WEALTH AND NATI.oN- AL SAVINGS
I. National Wealth up to '930 . . . 53 1. Rise in National Wealth after '930 36 3. Growth of National Savings 46
VI. THE RAISING .oF NEW CAPITAL 11 I. New Capital Requirements . 16 2. Sapplies of New Capital during the China Affair. 18
VII. PR.oDUCTI.oN I. Importance of the Dependencies 1. Production in Japan Proper zI xii CONTENTS
VIII. FROM LIGHTER 1'0 HEAVIER INDUSTRIES 78
I. Development in Heavy Industries .•• 78 ... Industrial Profits in Lighter :and Heavier In- dustries 87 ~.' Industrial Efficiency 8S
IX. INDUSTllIAL ExPANSION PROGRAMME 94
1. Mineral Products 97 •• Machinery Industry '" 101 3. The Future Prospect . 10,
X. SELF-SUPPLY IN FOODSTUFFS 119
I. Japan Self-Supplied in Food 119 ... Rice • • • • • . • . • . . 12~ 3. Wheat, Batley :and Rye . . . 1:<9 40 Soya·beans and Other Leguminous Products 131 ,. Meat and Other Foods in
XI. BUSINESS NOT AS USUAL t31 I. Mobillilation of Essential Commodities 13' ... Economic Dislocation Caused by the .. Butsudo" J ~ 8 3. Future Aspect of the Question 146
XII. RISE OF " SUBsnTUTE" INDUSTRIES I! 7 1. Principal Commodities De6cient in Japan 117 %. Coal Liquefaction lodustry •• 160 3. Staple-Fibre Industry • • • • . 163
XIll. JAPAN'S FOREIGN TRADE POLICY 171
I. Main Features of Japan's Foreign Trade during the Past II Years . . . . • • . . . •• 171 %. Japan's Traditional Free-Trade Policy 178 3. Japan Forced to Abandon Free-Trade Policy 18} CONTENTS xiii
XIV. MAN-POWER ...... 191 I. The Population Problem. • 191 2. Absorption of Surplus 'Population 201 3· Standards of Living 204
XV. OPEN DOOR IN CHINA 218
I. Meaning of the Open Door 218 2. What the Open Door His Failed to Do 131 3· Dawn of" New Ord"; .. in East Asia 14J 4- North 0Una Development Company • 1'9 J. Central 0Una Reconstruction Company 262
XVI. PAX jAPONICA, A SHINTOIST'S VIEW . 166 I. Y l1l1I410 DlII1Iuhii ...... 166 2. Ex Orilllil Lttx, Ex O«itltnll Lex . . 181
APPENDICES
APPENDIX A. Estimates of National Wealth, 193 1- 1937 293 APPENDIX B. Government Statement Regarding Expansion of Producti~e Capacity .•.•. 304 ApPENDIX C. List of Sources Quoted or Consulted 306
INDEX...... • . . . . • • • . . . . . 317 LIST OF TABLES TBk N-w Pq I. Military Expenditure after the Manchurian Affair 8 ~. EmeIgency Military Expenditure ...... • 8 3. Sources of Revenue . . . • ...... • . . 9 4. Estimated Revenue of the EmeIgency Military Expenditure Special Account ...... ••.. 10 5. Natural Growth of Tax Revenue ...... • . .. II 6. NumbeI of Persons and Companies Paying Income Tax, and Their Incomes ...... :...... 13 7. Indices of Production, Export Value, and of Market Value ofIndustrial Shares ...... ,.... 14 8. Taxes pn- Capita in Five Countries •••••.•..• 16 9. ~ Proportion of Taxes to the National Income .••. 17 10. Proportion of Tax Revenue to National Income in Various Countries .....•...•...•....•• 18 II. National Income and Taxationp". Capita in Four Countries 19 12. Net Profit and Loss of Japanese Companies ...... zo 13. Average Annual Costs of War to Principal Belligerents in the World War and Their Relation to National Incomes. zz 14· Japan's National Income in 1930 ...... • z4 15· Estimates of National Income since 1930 by Various Authorities ...... 6 16. Estimates of National Income (1930-1937) by Mr. Kame- kicbi Takzhashi , ...... 30 17. Indices of Various Factors affecting Changes in National Income ...... 31 18. The National Wealth in 1930 ...... 3S 19· National Wealth in 1913, 1919, 19z4 and 1930 Compzred. 36 zoo Estimates of National Wealth (1931-1937) at 1930 Value of the Yen ...... • . . . . . • . . . .. 43 ZI. Estimates of National Wealth at Value CUItent in Each Year (1931-1937) . . . . . • ...... 45 zz. Estimates of National Savings at Value Current in Each Year (1931-1937) . . . . • ...... •. 49 23· National Savings and National Investments 1931-1937 SI 24· National Investments .. . . • ...... 52 xvi LIST OF TABLES
%5. Increases in Deposits with Financial Institutions, etc. 51 %6. Increases in Deposits with Financial Institutions etc., in 19~8 60 %7. State and Local Government Loans and Bank and Company Debentures Outstanding at the End of Each Year 61 %8. Per CapittJ Increases in National Debt, National Income and National Wealth . 66 19. Per CapittJ National Debt and National Income in Japan, United States and Great Britain 67 ~o. Commodities Available for Consumption in the Japanese Empire 69 F. Production in the Japanese Dependencies 70 31. Trade of Japan Proper (Including Karafuto) with Foreign Countries and Japanese Dependencies 71 H. Production in Japan Proper 71 H. Estimates of Industrial Output in Japan Proper 75 35. Estimates of Industrial Output of Government and Mun- icipal Owned Factories 76 36. Production in Japan Proper in 1930 Prices 76 37. Percentages of Value of Output at Factories with 5 or More Workers in Japan Proper. 79 38. Production, Imports and Exports of Machinery 81 39. Value of Production by Principal Industrial Group. 84 40. Estimates of Value at 1936 Prices of Industrial Production in 1937 and 1938 at Factories with 5 or More Workers Based on Employment Indices • 86 41. Industrial Profits in 1937 and 1938 87 41. Value of Output per Hour per Labour Unit in Factories with 5 or More Workers 89 43. Output per Hour per Operative in Heavy Industry . 91 44. Reduction of Over-Stalling in Heavy Industry 93 45. Supplies of Principal Mineral Products in Japan Proper (1936) 98 46. Employment in Mining 99 47. Production of Gold in the Japanese Empire 100 48. Supply of Machine-tools in Japan . 104 49. Orders for Munitions of War Issued by the Army Depart- ment .• . 109 )0. Imports of Machinery in the Eastern Counrries (Mainly for 1936) ., 117 LIST OF TABLES xvii p. Supply of Staple Foods in Japan Proper ...... lZl 52. Percentages of Food .in the Total Imports and Exports in Various Countries . .. lZ2 13. Foreign Trade.in Foodstuffs of Japan Proper I z~ 54- Imports of Rice.in Japan Proper "7 jj. Increase of Acreage under Rice.in the Japanese Empire "7 56. Supply and Demand of Rice .in Japan Proper IZ9 • 57. Supply and Demand of Wheat .in Japan Proper . .. I~O 58. Imports and Exports of Wheat Flour ...... I~O 59. Value of Total Production of Cereals .in Japan Proper I~I 60. Supply and Demand of Beans and Peas .in Japan Proper (Average of 19H-19~5) . . . 132 61. Imports of Leguminous Products I H 62. Supply and Demand of An.inxaI Food .in Japan Proper (Average of 1933-1935) . . 134 63. Unemployment.in Japan Proper . -. 139 64. Establishments and Employees Affected by the Restrictive Measures of the "Mobili2ation " of Commodities ~40 65. Population of " Sacrificed Industries" and Unemployment in Each Group of Industries Affected by the " Mobiliza- tion "of Commodities (Orimtal fullOm;st) 141 66. Number of Workers Employed .in Factories and Mines .in June, 1937. and.in July, 1938 144 67. List of Raw Materials not Produced .in Japan in Sufficient Quantity ...... I 58 -68. Present State of " Substitute Industries ,,- 159 69' World Production of Staple-Fibre. 164 70. Expansion Plans for the Staple-Fibre Industry 165 71. Tradep.,.CapjtainPrincipaiCountries,1937 171 72. Japan in World Trade Uapan Proper Only) 17' 73. Balance of Trade for the Japanese Empire Including the Dependencies ...... -... 174 74. Foreigo Trade of Japan Proper 175 75· Percentage Distribution, by Continental Groups, of Japz- nese Trade 177 76. Duty-Free Imports and Ad Valorem Duties on Dutiable Imports in Japan Proper ...... • . .. 18x 77. Average Ad Valorem Rate of Import Duty on Dutiable Goods in Japan, U. S. A., Australia, and New Zealand (1935) ...... 18. xviii LIST OP TABLES
78. Census Population and Future Estimated Population of Japan Proper 193 79· Births, Deaths and Estimated Population, 1931-1938 194 80. Natural Growth in Population in Japan and Other Countries Compared 1921-19H 191 BI. Age Composition of the Population of Japan Proper, 1930 Census 196 82. Population pet Hectare of Tilled Land in Various Countries Compared 199 83· Number of Rooms pe~ Household and per Person 211 84. Trade of 01ina (Excluding Manchoukuo) %H 8,. Trade of Manchoukuo %34 86. Imports of Capital and Consumption Goods into Man- choukuo 2" 87· Production in Manchoukuo 237 88. Foreign Trade of 01ina and Manchoukuo over Thirty-two YeaI Period, 1907-1938 239 89· Trade of Taiwan and Olasen 1907-1938 %4 1 90• Per Capita Trade of 01ina and Manchoukuo Compared with That of Asiatic Dependencies of the Powers . %43 9 1• Per Capita Trade of Japan, Manchoukuo, 01ina and of the World by Continental Groups 244 LIST OF CHARTS
CflART I. Volume of Production in Lighter and Heavier Industries in Japan Proper, 193<>-1938 ...... II. Production and Employment in Industry and Mining, 193<>-1938 90 m. Age Composition of Japanese Popula~on, '930 . 196 IV. Age Composition of Japanese Population Compared with Those of Other Countries zoo V. Proportion of Male Population in Productive Age (15-l9) Gainfully Occupied, '930 zoz VI. Average Number of Rooms per Household in Japan Proper, 1930 214 VII. Growth of Imports into China, Manchoukuo, Taiwan and Chosen, '907-'937 . 240 vrn. Growth of Exports from China, Manchoukuo, Taiwan and Chosen, 1907-1937 . 240 I X. P.,. Capita Imports and Exports of Japan, Manchoukuo and China Compared with Those of Continental Groups Z44 APPENDICES APPmmIX A
1lsTIKATJ!S 01' NATIONAL WBALTH 193 1- 1937.
Vo1ueo are ~ in tbouaaods of yen of the pwcbosing _forI""" The vaIucs for 1930 "'" by the Cabinet But l.ANn (37% IN 193 0 ) 1. REsIDENTIAL LoTs ....676.33. in 1930 (being 40.2% of the total for Iaod) Qaoao;ty QaoI;,y (T-) (Noo-""""") ","z%"'''- (lIO % (:b6 ,,~Wca1tb. 1930 419~970 100 J,451~5IJ. 100 tOO 1~676.'3z 1"1 443,.6n 106 Js4t6.6u IOZ 106 IJ.U6,9u 193' 444,466 106 1,486,371 10. 106 Ij,jS6,9U 1933 4J~613 107 I,SlOMS 104 109 15.997,201 19M 4U,z.IO loB I,J:BPx8 IDS 111 16,%00.728 19H 4S!M?6 109 1,136"70 lOS U1 16,437.480 1936 463,741 110 1,S74.307 108 116 '7.0L0b'4S 1937 464.848 110 I.S81,743 109 117 17,171,3°8 Quantity: Ac:n:oge of tuablc taiclcntiallots of· January 1st of each yea< taken &omthe~ZIIIlA....JReJ»rlofl"'DIpJ•• jF_>P.lS.. Quality: Ac:n:oge of 11OD-IUable Iaod on January 1st of each yea< taken £rom the """'" _ p. 18,. Non-tuBbIe Iaod inclwIe Iaod for schools, shrines, SCWerage, roads, parks, rail.....,.. govemmeot of fices, loc:al govemmcnt ofIiczs, _00 eo-. etc. •• RICE-FIELD, DRY-FIELD AND OrHEllS ¥.6.41,,o16 Qaoao;ty (Taobk) "'">%10< CbO % ~~ uP.... CbO w.... 1930 ,.8.8.364 100 4Bo.,06 100 26.,41,.016 1951 S.81~Z1 100 Soo.H'- 104 10' 4.6.8.146 .6,943033- 1 1 93 2 ,.814.039 100 S" ..39 109 107 4.8SS.000 28J2.~067 '9H ,.8S4.614 100 S49.199 114 ,,. S.081.869 '9.,84,817 934 . ,,86',S41 101 nZ,406 119 118 ,,349.9lZ. 31,169.718 '93'' ,.86,,607 101 603PU u6 US ,.671,12.9 :53.018.77° 1936 ,.88,.246 101 6.6.7SS "0 1Z9 ,",0'''24 34.07M70 1937 ,.899.860 101 6,8.09' 131 136 0,1']0,.841 3",24.4>1 Quantity: Ac:n:oge of riez-field ami dry-6dd .. on the 1st of JAIluary of each ycaz&om the IZIIIlA....JRej»rl.jllNv.p.m.flllojFi_. p.18•• Quality: A<:tual aacage of agricuhunl Iaod which boa completed • pro- gamme of improvement WKler govcmmeat subsidy, taken £rom the zpbA....JSt.lislittJReJ»r,ojIlNDtp,•• jAgrinll_IIIIIIF""sll';1,p.,. 1" 2.94 THE ECONOMIC STRENGTH OF JAPAN 3· MINEs 60499.611 (1.9% in 1930) """""of ."oValuc N ...... ofY", 0..- -""""" "'..... 1930 lo6(lOO} +100 100 60499.61 ' 1931 97( 91} + 84 108 '.914068% 1932 96{ 90} +80 IU 1.849.681 1933 107(IOI} +99 102 6.1~647 1934 lII(108} + 98 1I0 7,019.6'3 1931 1'4C1I7} +102 1I4 8,019.167 1936 138(u8} +109 1I7 8.9~.IOO 1937 11I(I42} "';"13 1 108 9.8140473 Output indices are from the Sl4lislktJI y .....-Boo" oj 11M LMIl" of N._ 1937-8. p. 18 .. As the origiu:d indices are said to be hosed on nlue, the multip1ier .... mJuad to the bais of 1930 by meaDS of wboksale pricz :in- dices. 4· HARBOURS & CANALS 343.'43 (0'3% in '930) ..... ~1019JO ...of_ -- Valae_Yell ...... 1930 10.149.'34 Yen Yen 343.'43- 1931 9.60,.876 1I.4'4POO 314.In 1932 .6,2,7.,94 ZO;.3 zl.zSO 374.898 ·1933 16.391•813 16.,,6,000 39'0414 1934 1I.J06,783 Ilo944P"" 403>398 1931 II.S20.812 11.29f,OOO 414.~' 1936 130447.981 12.336,000 427,oz8 1937 13,291,634 10,1"",000 437.'73 S.. ", apeaditIue ill the toIaI of tb= different items c:ooccming the impn>oaDcnt of harbours """'" from the 1_ A..J p.,p.t.jtIM D.pI.• jF_. p. no. Allowance for ~ is made by disttg2rding cspeoditu« by local go.. - emmeo... s. BRIDGSS 48,.000 (0.,% in '9,0) Stooc Bridget """"""Bd.... Wood N... 'Ibouw>d.... N.... 'lbona<>d.... N... 'lbona<>d.... Nco. 'l'ho.-d.... N... . 'lbona<>d,... '9'°······ 9.7,6 ",,644 89.044 '69.·80 33"37 104.141 211,5 26 '7""4 696 7,411 483,000 (101) (94) (118) (98) '9'1 ...... 9.887 .",890 84.717 ,,8.799 '9.8•0 1.12,886 2,1,,,, '7M" ~J~ 7,040 487.,88 (84) (8.) (I,,) (101) (.00) '9'·...... 8,290 20,700 7S,108 ,,8.809 44-,2.1 13 8,,07 ",S,80, '79.'99 1,89 1~822 49 ••1 37 (107) (160) (96) (no) '9" ...... 10,478 .6.,69 8~~9 ,6,.,08 '3>9°7 166.6., 24'.24° 143.4'4 8,2 8.890 '°7.816 (108) (11,) (X7!) (9,) (1300) 1934 ...... 10,,2., 26,61, 101,]78 191,&86 ,8,40! i82,J46 237.·7J ',66.097 8947 96.'4' 66 •• ,87 (x08) (80) (000) (93) (1780) X935 .. •• .. 10.! 24 26,61, 74>481 X'l.424 66>418 208,dz 237.7J9 166.097 11.3°3 13 2 ,064 668,48. 1936 ...... 26.611 ',,>424 208.z82 166.097 x,2.064 668,48& 1937 ...... 6.6Ij '''>424 208.28a 166,097 x,.,o64 668,48& "1toD bridgeo (,%)" means the proportion in vol,!" of iron bridges in 19,0 Cenaut of National Wealth, and aofortb. Valueafor 1930 are from the 1930 census. Number of eaeb c:Iaaa of bridges is from the ,Itb SlDtistittJIAmtslaI of tb. J.pmuu Bm1* •• Figwos in brackets. i .•.• (101) etc. ate indic:ea with '930 as 100. Figurea for 1936 and 1937 were ...umed .. having b.en the same as for 19"'· . ~ 296 THE ECONOMIC STRENGTH OF JAPAN 6. T1U!I!S P.-- """'" NatiooIdWealth 1930 19,879,240 100 6.706•8t, 193 1 20,111,..,64 101 60773.88 3 1932 20,343.688 10' 6.840.09' '933 2o,J7S,913 103 6.97,,087 1934 20,808,137 10' 7.109"'3 19H 21.040.361 107 7.24303'9 1936 21.172,,8, 107 7.24303'9 1937 21,,~.809 109 Hn049' Fo.... aaeage for 1930 & '93' from the I Jlh Sl4lisli",&p.rlolllN D.pl. 01 Agri Dlibln IlIIIl Ptw'lIIfy. p. lSI. In the other years, it was assumed that acreage annually inaoascd by 696.673 hcctat 7· DoYESTIC ANn4ALs & FOWLS 346.316 (0.3% in 1930) No. of Bonae ...... No. 01_ T...... """'" ...... 1930 1049-8.. 60 10489.979 '.988"39 100 H6.3J6 193 1 I.sn.:ssz l04n"7 '.989.6'3 100 H6.316 ' 1932 1."90309 1.'41,086 3,070.391 10> 3JM8% 1933 1.119.833 1.,01,177 3.061.010 10' 3';.38% 1934 1.6140798 1046.f,z89 30079.087 103 31 6•841 19H 1.68WI IMSo4B1 3.132,942 104 360.308 1936 1.770.938 1.43 1.920 3,%02,8" 107 370.600 1937 3,%0·.8" 107 370.600 In '930. cow., cncu and boacs reptacDt 8. BUILDINGS ...8430300 ("'.7% in 19,0) 1931 la, 290.}91 Zf.IH.891 19'% n8 ,%6.S~ _,>460",60 19" n4 ,IM99 -'.77"9S9 1934 126 348."/09 ","1","668 19" 1,6 ,71>.,86 ","SOI,oS4 19,6 142 '92,990 ","8940_ 1937 134 '7<»8so %S.-«4,894 1Rpt. of C--..LMltuIry fig=: £or DeW buildings in __ citi 10. RAILWAYS ...- Iodbs ...... 19,0 .1.S9' 100 "'98•1,8 1931 zz~06 10, ,.706.106 1932 22.614 lOS ,o77B,oS4 19,n 23P29 107 3.8,0.001 1934 Z3.623 109 3,9:&1.978 19" 04 .." 112 400'9.914 19,6 ","S44 114 S,037.387 1937 ","S44 114 S,03MB7 KWxnetra worhd iDcWd<: both StaIe-Owacd ond private milwaya. Sowa:a: FIIlIDcial Swistics Pft:pared by the Dept. of Finance, 1937, p. 44' For '937. it .... I8SIlIIII:d that the lrilomell QoantItylDdlooa Quallty Iadka Lm,% for NadonaJ Wetl.tb HotwopOWCr VoIumeof DeprcclldOll -, loU.. am ... o.'p,,, !nU.. Idle 'Toto! ------(100) '9'°· .... •.. • 7"96.744 1,2'9,791 8.n6.l!l 100 100 ° 1,809.)81 (100) '911 ...... 7~Lt6~'2.o 1~099MO 8.HS.960 99 96 -I 9' 1,6%6,0 (97) 19'·...... · .. 7,.81.6" 1,088.737 8,570,l68 100 lol +l 9! 1.66",6,0 (104) '9" ...... · 7096oj,971 961 ,117 8.9·6,°9' 109 "9 +10 107 1,9,6,0'7 (111) 1914.... · .... 8.7U .!?7 981.934 9,70 3,,11 119 III +16 I" 2.1°7,444 (1&4) '9H ...... · 9>148,727 1,1.1),106 10.661,9" 110 154 +&4 14l ',581.414 (1,8) ..... 19'6...... 10.687.9" 1... 6.6 15 It,8i4.I4} 146 119 +11 146 '.641.696 > (1,.) ' ",9950999 "oo'.!7' Z Hone.power In end out of use iJ taken from the Fac:lOry Statistics. 1957, p. 101. For 1917. an in...... of 10% ...... umed. Quantity indl"", "'" given In b II. VEIDCLES AND AEaoPLANES 660,294 (0.6% in 1930) % '93°. 100 66o,z94 '93 103 680,102 ' 1932. 10, ~3.308 '933 '''1 ,06"'4 '934 109 719,72.0 '937 I1Z 739.JZ9 '9,6 114 "z.'37 1937 114 "Z.", The indica used for I3ilway. were used. 11• VESSELS • ,o60.z,6 (1.9% in 19'0) T-..'" -.. """'" w""" 1930 '.968.,96 100 2,060,2.3- 6 1931 ,.974.167 100 2,060,236 19'z '-9,8.,,8. 99 2,o39,6u 1933 3.8,z"'77 96 1,977.826 1934 3.862.,81 97 1.998,428 1937 3,914,'°4 98 2,019,030 1936 4.o,4.z84 110 2,2.66,2'9 1937 _'.~ 111 2,286,861 Tonnage from the lilb Skllilliml.Amtwzl oft'" JajJmllll Bmpin. p. 21,. Figuleo for 1936 IUd 1937 OD inquiry at the Dept. of CommuoicatiDDS. 300 THE ECONOMIC STRENGTH OF JAPAN 13· Eu!cYIUCrrr AND GAS SuPPLY BQtlIPMllNT 1,90,,044 (1.9% in 1930 ofwbiob ekctricity WlII 88%) ...... Iing Copochy crlElec:ttitiCf ...W"' .. ~ hdlmo - I9l0 MH,ol" tOO 1,90'0044 19,1 lo'fB,,8' IOl 1,96',19' 193' ""7"'99 1>7 :l,~O,,'lO 19B 4" ..,804 'l4 t,SS2,n8 1934 "'738,9n 141 .,686",. 1931 S,II""S ," .1,914.717 '936 s.79lo97· '7' H3l,h1 19)7 6,183.04' .84 3.,0,,180 Sources: Tin JIIb SlaIidi,,J A:AnNa/.! lin J.JHWSI Bmp;n, Po "7, Figures for I9l6 .00 1937 00 inquity at the Dept. of CommunicatiooJ. 14- TI>LEGlUPHS & TELBPHONES '99,101 (o•• % in 1910 of..,biob 98% waa JWe-OWII ToooIUaa NaiooalWaltla ~ "...". 1930 5J747,8oB 100 199,t()2 1931 1.91%,·6, IOl 10,,07, 193' 6,1440860 107 113,039 19H 6,)36,,4' 1t4 ..6,97 6 1914 6,806098, 119 '36,91' '9ll 7,1.l70478 ..6 'l0,868 '916 7ol1""'u .S' .6o,h) , '9" 8,BIAl l I'll .88,~7 Soun:c: 1935 edition of the Oriental Economist's AIInwI. p. 4h. APPENDIX A 301 I,. WATER WOllIS " ..779 (0.,% in 1930) _or_,T... NadoaaI Wealth ...... 1930 2,ool,20, 100 ,,2.779 1931 2.16,.871 10l 3700417 1932 ..,,8.7l1 Ul 44"0913 '93' ..",.6" 12l _.97' 1934 2.766.,,8 I" 476,32.1 19" ..8·309l7 140 493.890 1936 3pJ),741 IlO l29.168 1937 16l l82,o8l Sowces: TIN ,II/} SltIIistif41 AJIIIIItIi of thr lapmrul BmpirI. p. ,14- Figwea for 1936 on inquily at the Dept. of Home.Af&ln. For '937. catimates. 16. HOUSEHOLD FURNITUIU! AND WAIU! I2An.'OI (u.,% in 19,0) ~ WbokaIo I'wdouIDa LeIIlo% &ar ...... In NadoDalWcalch J9!O ... 1930 -100 100 100 --100 U.47"ZOI 19,1 89 84 lol 9l 1I.849.,40 19)2. 9l 80 118 Ill> 108 13.471,ol7 1933 u! 99 U4 104 12,971.429 19!40 124 98 126 u6 14A68.91, 1911 1!9 10. 1,6 126 1',716,235 19,6 I" log 142 I,. I604~.6" 1937 176 ,,1 1'4 124 I,.,66.76g 30Z THE ECONOMIC STRENGTH OF JAPAN '7. CoMMODITlBS STOCItl!D 104170466 (1% in '9l0) FIIClO.dea W'arehoutca AdjUl," by NWonaI tbouImcI tboaIaad Total IDdica WboIcaJo Weekb JCD JeD Pdee lDdcz '930 1440886 316.844 9')1.7lo '00 '00 504170466 '93' 435047' 4'°.988 8460419 9l no 6.'Ol.21_ 1932. 114967 486,144 1,001,111 11.& 14' 6.913.32., 19H ,07.n8 S8S.08S 1,092,2.03 UJ In 6,6,S,J08 '934 131.l'7 66,.809 '.'97.1%6 '3z '34 M'3""'" '931 68z.709 S37.809 ,,zzo.,,8 '31 '3' 7,z03.8H '936 803.664 Sl9.6H '.34l.'99 '48 'H 7.3 670179 '937 8840030 7"0408 ,.6060438 'n 'lS 7.l670179 The gross value of products of all industriea in Japzn in '9lo waa n"9l"78poo yeo. a=rding to the Ccozus of Natioaa1 Ioc:ome for '9lO. Goods stocked at factories (employing S or mote workeIl) from Pu/4r;1 S/QI;11U1 for '9H. '936• '937. Goods stored at watehouses from TIN JOJMII En... SkllillUl for In, (BanIr of Japan) as "'ported by the Japan Wan:bou... Asaociation. p. n... (End of year) 10 '930 Ccozus of National income, goods stored at these two """""" te_ted '9.'% of the total. 18. CoINS AND GOLD BULLION 9,6.64l (0.8% in '930) s...... -. CoioI GoldBu11ioa TotlI ~ Wealdt '930 8.,z69 8'S.998 ('00) 907,z67 (99%) '00 9,6.64l '93' 83.,,- 469.S49 SS2068, 6, ssz.68. '93' 8,.824 42S,068 S07.89' SS S07.89- '9H 86.942 42s.o69 su,on S6 ,u,on '934 88.937 ,,66.ll8 ,ss.zn 6. sss,zn '9H 9,.691 ,,,,,,06, S9'.~ 6, '91.760 '936 940347 ,.s.342 64>,689 7' 642,689 '9l7 '00.815 lO9.72, 4'0,'98 4' 4.0.'98 The nomloal va1ue of BUbaidiary coma was obtained from the hnd AnouaI J!o. port of the Dept. of Finance, pp. l48-9. The teal value of the ouboidiary coins waa 20% of the nomloal va1ue in '9lO wbic:h figwe waa used in the c:ompilatioo of the amount of nztioaa1 wealth in '930. The oamc pcm:magc was used to convert the nomloal valuea for each year into the conezponding teal value. GaJcl for '937 valued at 80.,00',000 yen waa converted into the '930 val".rioo of gold at the rate of 7'0 milligrammca per ",0. The new rate is 290 milligrammca. APPENDIX A 19. MISCBLLANBOUS NidloualWedtb 2,2,0,160 lu,,08 '.36•• 668 U8,133 2.480,801 .,604,841 ,-130,242 207310083 136.754 ••87 1•837 143,'91 3,oI""za 150 ,77 1 3.166•199 2.0. BALANCE OF INTI!RNATIONAL CLAnls .(0.• % in 1930) Liobllidoa ...... N.ticmJ.WcaJ.tb 2,:l.09.30S""'" 2,017,713 (+) 19'.'9' 15)1.'92 ~ (-) .86.9,0 ~+l (A) .,•• 604 (-) 9,420 (-) 0 ( (+)503.1'4 - (D) 369.084 9042 (B) - 10j,988 ~+l A 84047' (-) 119.6'3 (-) 119.6'3 (C) + 100.9'4 - D 189.64' (B) 1740.87 A ~+) 119.,,6 (-) 17.6., (-) 17.6., (C) + 2.1',77' D -) 99.044 1 218.6" A ~+l 9'.7 3 (+) 118.740 (+) 118.740 '934 rcl + '98.l37 D - 99.1.52 (B) zz,,688 A ~+l'lM37 (+) 4ll.8ol (+) 4".8o, '93l (C) + '79.990 D - 176.674 (B) - 8 A 1936 4 40934 ~+l'9"014 (+) l21M6 (+)"'044 (C) + 6, •• ,,8 D - 2~8zz ' '931 (+)l2lM' (+),210441 Sowoe: FiNmtitJI SIaIiIIkI. '937. by the Dept. of Finance, p. 403. From the ._of the balance of intcmatioaaI psymenIB. (A) New investments by foteignen in Japan. (B) InveatmenIB oveneas by JIpane&C. =ailed. (C) New inveatmenIB 0_ by Japanese. (0) InveatmenIB in Japan by foreign (Supplemenwy to page 96) .GoVERNMENT STATEMENT REGARDING ExPANSION OF PRODUCTIVE CAPACITY On March 8, 19~9, the'President of the Board of Planning disclosed, at the House of Representatives, the goal aimed at by the Programme of Industrial Expansion. The President gave the following percent al!:es as the definite objectives which the Government seeks to attain by the end of 1941 (the year 19~8 taken as 100):- I. Iron and stcel 160 to 2,0 .. Coal 1,0 ,. Light metals 1,_ 4· Other non-fert0u2 mctals Copper ISo Lead 190 Zinc 170 Tin 200 1· Petrolenm and substitntea thereof Volatile oil, natural 150 artilicial ,,000 Heavy oil, natural 04"" artiIicial 900 AIeohol" I,JOO 6. Soda_ 120 C211Sticsoda 140 !ndust,w ..lIB 61 0 7- Sulphate of ammonia 140 8. PnIp for paper making 12.0 " n myoo. 320 9· Gold 200 10. Macbino-toola .60 II. Rolling'tack Looomotivcs 130 Freight vans 110 Passenger cars 170 I:L Motor-cars 100 15· Sheep',wool 540 304 APPENDIX B he President added further that, when the Prognunme of Indus J Expansion was reafu:ed throughout Japa:t. Manchoukuo and Jrth China, Japan would become sclf.supplied with the following iclcs:- Jroo and stcel, CcsI, lJ&ht mctaIo, Soda. sulphate of lIIIlmOIlia, Pulp, RailWllY 'Rhides. Motot-ato, Vesoelt. APPENDIX C LIST OF SoURCES QUOTED OR CoNSULTED A. Statistics and year-books in Japanese. B. Books in Japanese. c. Newspapers and periodicals in Japanese. D. Statistics and year-books in English. E. Books in English. F. Newspapers and periodicals in English. A. STATISTICS AND YEAR-BOOKS IN JAPANESE BUREAU OF STATISTICS, IMPERIAL CABINET: Statistical Year-Book of the Japanese EmpiIe (Nippo. Ttihht Tilui NntkmJ). Annual. Outline of Labour Statistics (RMo Tilui YirQII). Annual. Report on Household Budgets (Kuhi ChislZ Hihht). Annual. Monthly Statistics of Wages and Prices (Chino. Bt.tktZ Tilui Gtppo). Monthly. Outline of Statistics for the Principal Countries of the World (Rtkkoht Kohts,; YirQII). Annual. Report on Survey of National Wealth for 1950 (Kohifll ChislZ Hohht). Published in 19H. Report on the Survey of National Income for 1950 (Koluunill Sbotoht ChislZ Hihht). Published in 1954. Final Report on the National Census of 1950 (Shill''' Gtmm Kohls,; Chisfl Sflishii Hihht). Published in 1958. DEPARTMENT OP FINANCE: Annual Report of the Department of Finanee (OhtrlZSbi Ntmpl). Annual. Statistical Annnal of the Bureau of Taxation (S~ti.90ht Tilui Ntmpo). Annual Report of the Bureau of Banks (Gillki.l:Johl Ntlllpo). Annual. Reference Book on Fmancial Matters (IG".Jii fijo SlI1Ile4sbo). Annual. Annual Statistical Report on National Debt (Kohtsfli Tilui Ntmpo). Annual Return of Foreign Trade of Japan (Nipj>Oll Gflihht Bitki Ntmp,o). In English and Japanese. ,06 APPENDIX C Monthly Return of Foreign Trade of Japan (Gaikohl Bo,ki GeppyO). In Japanese and English. DEPARTMBNT OP AGRICULTURE AND FORESTRY: Annual Statistical Report of the Ministry of Agriculture and Forestry (Norinshi TokeiIt!O). Statistical Outline for Cereals (Kohll1l.,m Yoran). Annual. Rice Statistics. (KoI1l' TokeiIt!O). Annual. Survey of Agricultural Household Economy (NOM IViZai Chosa). Annual. DuARTMBNT OP CoMYERCB AND INDUSTRY: Annual Statistical Report of the Department of Commerce and Industry (ShileDshi Tokeilt!O). Annual, Statistics of Prices of Commodities (BRkka TokeiIt!O). Annual. Company Statistics (Xllisha TokeiIt!O). Annual. Factory Statistics (KOjo TokeiIt!O). Annual. Monthly Report on Retail Prices for All Japan (Z,nkohl KoJlri llMkka GeppO). Monthly. Monthly Report on Important Production UiiJo S.isan G,ppO}. Monthly. Monthly Statistical Report on Building (Km DEPARTMBNT OP OvmtsEAS AFFAIRS : Annual Handbook of the Department. (TakMl1III Yoran). Annual Statistics of the Department of Overseas Affairs. (TakM"," Tokei). GoVERNMENT-GENERAL OP CHOSJ!N: Handbook of Chosen (ChoSIll ]ij0). Annual. Annual Statistical Report of the Government-General of Chosen (Chislll Soto/uifll Tokei N,,,,po). Annual Administration Report on Chosen (ChoSIII Shis,; N'l1IpO). Annual Return of the Foreign Trade of Chosen (Chislll Bo,ki N.",pyO). Monthly Return of the Foreign Trade of Chosen (ChO"" Bo,ki GeppyO). GoVERNMENT-GENERAL OP TAIWAN: Handbook of Taiwan (Tailllan JijO). Annual. Annual Statistical Report of the Government-General of Taiwan (Tailllan S6to/uiftl Tokeisho). ' Annual Return of the Foreign Trade of Taiwan (Taj",all Bo,ki N.",pyO). 308 THE ECONOMIC STRENGTH OF JAPAN Monthly Return of the Foreign Trade of Taiwan (Tailllan IJ4,ki G,ppyO) • . GoVERNMENT OF SOUTH SEA MANDATED ISLANDs: Handbook of the South Sea Islands (N"'!Y0 GIII1IIJ Yoratl). Annual. Annual Statistics of the Government of the South Sea Islands (N"'!Yo(bo Tohi NmIetm). GOVERNMENT OF KWANTlJNG LEAsED TERRITORY: Annual Statistics of the Government of K wantung Leased Ter ritory (J.Vmlo~hI Tohisho). BANK OF JAPAN: Economic Statistics of Japan (Hompo!Vizai Tokei). Annual. Statistics of Factory and Mining Labour (ROJ. Tokn). Monthly. Index Numbers of Retail Prices in Tokyo (Tokyo Kouri Soba Shirab,). Monthly. In Japanese and English. Index Numbers of Average Monthly Wholesale Prices in Tokyo (To~o Bttkka Shirab,). Monthly. In Japanese and English. Survey of Company Capitalization (Giw Koishtl Shihon Shirab,). Monthly. Survey of Business Enterprises (Ginko Kois" IVikahi Shihon Shirab,). Monthly. OHARA INSTITUTE FOR THE STUDY OF SOCIAL PROBLEMS : Japan Labour Year-Book (Nippon R/JJo NmIetm), 1937. ORIENTAL EcONOMIST: Economic Annual (!Vizai Nmkatl), 20th, and undo 1938. Joint-Stock Company Year-Book (Kabtuhiki Kois" N,nkatl), 16th. 1938• YANO, TSUNETA: National Strength of Japan in Graphs (Nippon Kohls'; ZIII), 1938. Annual. B. BOOKS IN JAPANESE ABE, KtCHISHO: Oil from Coal (Sekilatl Ekika). 1938. ALUfATSu, SUKEYUKI: Pacific Problems (Taihe!JIJ MotuJm). 1937. ARAKI, MtTSUTARO: InHation. 1938. ARISAWA, HIROMI: Japan under Economic Regimentation (!Vizai Tos,; L /10 Nippon). 1937. DEn. OF EDUCATION: True Meaning of the Nationality of Japan (Kohllai /10 Hong). 1937. DIAlI:OND SHA: Rayon. 1938. APPENDIX C ENOMOTO, SHUKICHI: Soda. 1938. FOREIGN OFFICE: Our Present Trade Problems (c;,IIM IIf) Wag.. Tsiishii Mondat). 1936. Tariff Systems of the World (S,kai lVzkkokM IIf) K41tz1i SliJo). 1937. Trade of Foreign Countries and Japan (lVzkkokM TSiishii IIf) Diik;; 10 Nippoll). 1937 edition. World Economic Annual Report (S,kai IVitai N'f1Ipo" vols. U and ill. 1937. ~ Economic Condition of the United Kingdom (EikAkM !Vizai Jijo). 193 8• Questions and Answers in the 73rd Session of the Diet Relating to Diplomatic Relations. 1938. FUJIWARA, GINJIRO: The Spirit of Japanese Industry (KDgyo Nippoll Slishill). 19H. Fuur, BIGO: Money Policy (Tsiika SlisakM). 1938. GoVEllNMJ!NT-GENERAL OF CHoSEN: The China Incident and the Chosen People (ShiM fih", 10 Hanlii Diibo). 1938. HARADA, IsHISHIRO: Dyestuffs (Smryii). 1938. HATANO, KANAB : War-Time Economy of our Country (Wag.. KNni IIf) S"'ii !Viz..,)· 1937· Lectures on Economics (!Vizai KDlIIa). 1938. HI]IItATA, SSlBl: japan's Economic Policy (Nippoll !Vizai S'isakM). 1937· The Path to Japanese Economics (Nippoll !Vizai GakM , IIf) Mi Questions Relating to Urban and Rural Population (Tohi JinkD ni kan SIlr1l SbomollliaJ). 19H. KAGAWA, ToyomKo: Industrial Co-Operatives Reader (Sallgya KIImiai TokMbon). 1938. KAMBARA, SHUHEI : Collection of Laws and Regulations Concerning War-Time Economy (Sellji Keizai Horei ShU). 1938. KATSUDA, TEIJI: Kawasaki and Kanoik. ~ncern Reader (Kawasaki Kanoih CO/l&et1I TokMbon). 1938. Okura and Nedzu Concern Reader (OkMra NltI~.'1 CO/l&et1I To!eNbon). 1938• KAWAGUCm, SmRa: The Present Emergency and the Agricultural Village UikyokM to Noson). z vols. 1938. KOBAYAsm, Icmza: What Mter the War? (Sent." wa Donartl). 1938. KOHAMA, SmGEO: Resources of the Japan-Manchoukuo-China Block (Nkhi-Man-Shi Block Jikyli Shigen Ron). 1938. KOJIMA, SEIIcm: South Manchuria Railway Concern Reader (Man telsll CO/l&et1I TokMbon). 1937. Iron and Steel Econbmy Reader (TekkD Keizai To!eNhon). 1937. KOYANAGI, RxTOKU: Yasuda Concern Reader (Yastlda CO/l&mI Tokfl.. bon). 1937. KURmAYASm, SEIsro: Securities Trusts (ShOken Zaibalsll Ron). 1938• MIYAKE, HARUTERU: Electricity Con=n Reader (DenryokM CO/l&et1I Tokflbon). 1937. Shinka Concern Reader. 1937. MxTSUBIsm EcoNOMIC REsEARCH BUREAu: Present Conditions of World Economy (Sekai Keizai no Genm). 1934- Development of Industry and Trade of Japan (Nippon no SaIIgyO to BOeki no Hallen). 1931. International Economic Relations in the Pacific (Taiheiyo ni okerN Ko!eNsai Keizai Kankn). 1937. MORl, SHiiIcm: Hemp Spinning and Weaving (Seima). 1938. MORl, SmGERu: Kawanishi, Ohara, ItO. Katakura Concern Reader. 1938. NAKAI, TAKEO: Substitute Industries (Daiyo Hin KogyO). 1938. NAXAlWRA, SANNoJa: japan's War-Time Finance and Economy (Nippon Senji Zaisei Keizaz). 1938. NARlTA, TsuroMu: Pulp. 1938. APPENDIX C NISHINO, KrrOSAKU: Sumitomo Concem Reader (SlIlIIiltJlII' C.nartI T.kIIhon). '937. OKAZAKI, KOJu: Ocean Transport (KaiIl1l). '938. OKURA, KIMMOCHI: Controlled Economy for Japan and Manchou- kuo (Nicbi MatI Tim &ittli Ron). '933· . SHIROSAICI, KYOICHI: Remanufacturing and Substitute Articles (Dtliyo bin 10 Saiseisan). '938. SHINCHO SHA: The Japanese Spirit Reader (Nippoll Seisbin TokNhon). - '937· SHISHITANI, Zm;r-ICHI : War-Time Trade, Exchange and Prices (Stllji Bieki, ](allllU., BNkka Ron). '938 .. Japan's Trade (Nippoll Bo.ki Ron). '938. SOGAWA, JUN-<>: Macbinc-Tools (Kosahl Kikm). '938. SOUTH MANCHURIA RAILWAY: Manchuria Economic Annual Report (MatlsbY Kei~ai N.mpd). 1 vols. '938. TAKAHASHI, K.AMBKICHI: Development of Japanese Industry (Nip pon Kogyo H4tttII Ron). 1936. Semi War-Time Finance and Economy Ull1lstllji lea 110 Ztlisei 10 !Viz"'). '937· Present Day Economy of Taiwan (Gentiai Tailllall &itai Roll). '937. National Debt Policy (Kostli Seisahl). '937. War and Japan's Economic Strength (StIISiJ 10 Nippoll &itai Ryoku). '937· Present St1ge of War-Time Regiment1tion of Economy and its Future (Stllji &ittli Tisei 110 G,IIIianIeai 10 SOIlO ZtIIlo). '938. TANIGUCHI, YOSHlHlKO: Studies on Trade Control (Bo,ki Tisei 110 Kmky.). '931. Japan's Trade Policy (Nippon Bo.ki S,isahl). '937. TANIKAwA, TETSUZO: The Japanese Psychology (Nippon Jin 110 Kbktwo). '938. ToKYO AsAHI NEWSPAPER: High Prices (Kobllklea "" Intku). 1938. Looking at AgriculturaI Villages behind the Guns. (Jyiigo 110 NiJsolI "" mif'fl). '938. ToKYO NICHI N'CHI NEWSPAPER: Practical Problems of War-Time Economy (Stllji &itai 110 jilltli Molltlai). '938. Toyo KmZAI SHIIdP6: War-Time Regiment1tion of Japanese Econ omy (Nippon K.eittli 110 S.lIji Hmsei). '938. W ADA, HIDEKICHI: Mitsui Concem Reader (Milltli C.lI&mI T.kuhon). 1937· 3U THE ECONOMIC STRENGTH OF JAPAN The Nissan Concern Reader. 1937. The Spinning and Weaving Concern Reader (Billki C01l&1rtI Tokslhon). 193 8• WATARASB, KANzo: Sulphate of Ammonia (RyUfal/). 1938. YAMAMOTO, EISUKl!, AmaRAL: Total War (Kokka Soryoksl Sill). 1938. YAMAMOTO, SOJI: Motor-Cars (fidofha). 1938. YAMAMOTO, Yuzo: Gold Production (Sal/kin). 1938. Y ASUOKA, MASAATSU: Study of the Japanese Spirit (Nippon S,ithin ~i). 1937· YOSHINO, SHINJI: japan's Industrial Policy (Nippon Kogyo Seifaksl). 1937· C. NEWSPAPERS AND PERIODICALS IN JAPANESE CHiiGAI SHOGYO. Daily, Tokyo. DIAMOND. Weekly, Tokyo. EcONOMIST. Monthly, Osaka. HoNPO ZAIKAI Josm. Monthly, Tokyo. KAMPCi (The Govlrtl1lllllt Gazelle). Daily, Tokyo. KrKAKU (PIa""ing). Monthly, Tokyo. KOKUSAI Gupo (IlIltmanona' MollthlY). Tokyo. NIPPON JiiKOGYO (fap""", H,tZI!J IntiMftry). Monthly, Tokyo. NasON KOGYO (IlItiMftry ill AgriGIIllllra! Villager). Monthly, Tokyo. SHOKIN SHiiHO (Week!! of the Yokoha1lla Sped, Bank). Tokyo. SHOKO GYosm (Atlnzitliflratioll of C01ll1llera anti IndMftry). Monthly, Tokyo. SHiiHO (Week!J Report). Cabinet Bureau of Information, Tokyo. ToKYO AsAm. Daily, Tokyo. ToKYO NIcm NIcm. Daily, Tokyo. Toyo KmZAI (Orilllta! fuIlO1II;1/). Weekly, Tokyo. ZAIsm (Fi""",,). Monthly, Tokyo. D. STATISTICS AND YEAR-BOOKS IN ENGUSH JAPAN, FINANCIAL AND EcoNOMIC ANNuAL OF: Tokyo, 1937. JAPAN, THE STATISTICAL ABSTRACT OF THE MINIsTRY OF AGRICULTURE AND FORESTRY OF: 1938. APPENDIX C JAPAN, FOREIGN TRADB OF: A STA'l'ISTICAL SUllVBY. The Oriental Economist, 1934- JAPAN YEAR-BooK; 1938-1939. Tokyo, 1938. CHINA YEAR-BOOK; 1937. Shanghai. CHINA, FOREIGN . TRADB OF: Inspectorate-General of Customs, Shanghai 1930,1931,1932,1933,1934, 1935, 1936, 1937· MANCHOUKUO, ANNUAL RETuRNS OF THE FOREIGN TRADB OF: De partment of Finance, Manchoukuo. 1933, 1934, 19H, 1936. MANCHUlIIA YEAR-BooK. 1932-1933. AUSTRAUA, OFFICIAL YEAR-BooK OF THE CO.... ONWEALTH OF: No. "9' 1936. Canbena. . NEW ZEALAND, OFFICIAL YEAR BOOK. .1937. SOUTH AFRICA, OFFICIAL YEAR-BooK OF THE UNION OF: 1936. STATESMAN'S YEAR-BOOK, 1938. WORLD ALM.uuc AND BOOK OF FACTS, 1933. New York. STATISTICAL YEAR-BooK OF THE LEAGUE OF NATIONS, 1936-37 and 1937-38. MONTHLY BULLETIN OF STATISTICS, LEAGUE OF NATIONS. E. BOOKS IN ENGlJSH ALLEN, G. C.: Japan the Hungry Guest, London, 1938. BISSON, T. A.: Japan in China, New YOlk, 1938. BRITISH CHAMBBRS OF CO....sRCB; Report of the Executive Council of the Association of; 1931-1936, London. CHAMBBRLAIN, BASIL HALL: Things Japanese. London, 190,. CROCKBR, W. R.: The Japanese Population Problem. London, 193 I. FEDERATION OF BRITISH INDUSTRIES: Report of Mission to the Far East, August-November 1934. The Menace of Japanese Competition. London, 1933. FELLOWS, E. A.: The Finance of Government. London, 193". GOVERNMENT-GENERAL OF CHOSEN: Thriving Chosen, a Survey of 2, Years' Administration. Keijo, 193'. Annual Report on Administration of Chosen, 193'-36. GREGORY, T. E.: Memorandum on Japanese Competition. London, 1931· 314 THE ECONOMIC STRENGTH OF JAPAN mOKUCHI, Tosun: Small-Scale Industries of Japan: the Electric Lamp Industry. Tokyo, 1936. The Woollen Industry. Tokyo, 1936. mSTITUTE OF PACIFIC RELATIONS: Problems of the Pacific, 1931. Chicago, 1932. Problems of the Pacific, 1933. London, 1934. Problems of the Pacific, 1936. London, 1937. INTERNATIONAL LABOUR OFFICI! : Report of the Director, 1937. Industrial Labour in Japan. 1933. Social Aspects of Industrial Development in Japan, by Fernand Maurette. Geneva, 1934. Problems of Industry in the East, by Harold Butler. Geneva, 1938. The Worker's Standard of Living. Geneva, 1938. KAnoNo, CHOKURO: Development of Railways in Manchoukuo. Tokyo, 1936. KANAr, KITosHI: The South Manchuria Railway Company's Part in the Economic Development of Manchoukuo. Tokyo, 1936. KAWASHIMA, NOBUTARO: Statistical Survey of Japanese Foreign Trade. Tokyo, 1938. KoYASU, HIROSHI: Small-Scale Industry of Japan: the Bicycle Industry. Tokyo, 1936. KoYASU, HIROSHI: Small-Scale Industries of Japan: the Enamelled Ironware Industry. Tokyo, 1936. LEAGUl! OF NATIONS: Appeal by the Chinese Government: Report of the Commission of Enquiry. Geneva, 1932. Supplementary Documents to the Report of the Commission of Enquiry. Geneva, 1932. Review of World Trade (Issues for 1933, 1934, 1935, 1936, 1937). Report of the Committee for the Study of the Problem of Raw Materials. Geneva, 1937. World Economic· Survey. Seventh Year. 1937-38. Geneva, 1938• Lol!NHOLH, L. H.: The Civil Code of Japan.. Tokyo, 19"6. MASON, J. W. T.: The Meaning of Shinto. New York, 1935. MATSUOKA, Yosun: Building Up Manchuria. Tokyo, 1937. MINOGUCHI, TOI MrrsUBISHl EcoNoMIC REsEARCH BUIU!AU : japan's Financial Situa tion Since the Outset of the China Incident. Tokyo, '938. Japanese Trade and Industry. London, 1936. MuRDOCH, JAlO!S: A History of Japan. 3 vols. London, 191~ and 1916• NIGERIA, '93~. Annual Report on the Social and Economic Progress of the People of. London, '937. ORCHARD, JOliN E.: Japan's Economic Position. New York, '930. SALTER, S,R ARTHUR: World Trade and its Future. Philadelphia, 193 6• SODA, Tum: SmaIl-Scale Industries of Japan: the Rayon Textile Industry. Tokyo, 1936. SUZUKI, NORIHlSA: A History of Japan's Finance. Tokyo, '938. TAKEKOSHl, YOSABURO : The Economic Aspects of the History of the Civilization of Japan, 3 vols. London, '930. UYEDA, TmJIRO: The Growth of Population and Occupational - F. NEWSPAPERS AND PERIODICALS IN ENGUSH As,ATIC REvIEw. Monthly, London. ATLANTIC MONTHLY. CoNTEYPORARY MANCHURIA. A Bi-Monthly. South Manchuria Railway Co. DOMINION. New Zealand. Daily. ECONOMIST. Weekly. London. MANCHESTER GUARDIAN. Daily. MOMBASSA Tnms. Mombassa. Daily. MONTHLY CIRCULAR. Monthly. Mitsubishl Economic Research Bureau. NEW You; Tnms. Daily. ORIENTAL EcoNOMIST. Monthly. Tokyo. SYDNEY MORNING HERALD. Daily. TuolEs, THB. London. Daily. INDEX A Bicycle industry, liZ Births and destha, 194 Abnoana1 Importationi Act Bisson, T. A., 251 (U.K.), 185 BI«, the meaning of the term, 247 Absorption of surplus popuIation, 201 BIDt economy. 183.2,... Age-c:omposition of the popuIation, Board of Planning of the Cabinet, 94 191,196 Board of Trade, the British, 227 AgricuItual villages, industriaIi22tion Bristol, standards of living in, 216 of; 110 Brirish Empire, 248 Airctaft industry, 101, 101 British Prime Minister, 4 AjjIllJIIIOItJ, 131 Brirish West Africa, 186 AIIen, Prof. G. c., 79; 88,267, 284 Buddhism, .80 Algecims TIesty, 227 Btubitl6, 215,280 Aoglo-Japanese commercial treaty of Bldmtl6, 131 1911, 186 Butter. 12.2 AnimaI food 134 Anti-Comin";"" agreement, 2" c Anti-Comintero axis, 247 AN-1IIi1lmta. 27f Cabinet Buteau of Statistics. 18, 23. 26 .A.chbishop of Canterbw:y, .88 estimatco of D2tional wC21th by, Arita, Hac:hirO, 212 53,51 Campaign to cc save money u, Ari41i& Rwi,... 189 '9 Asiatic, the term, 217 Cane-sugu, Association of British Clambers of Capillll goods, Commerce, "7 Capital investment is;. Atianm Mmubfy, 4 Manchoukuo. Austtalia, "9 Cast-iron kettles, 145 Automobile industry. 101 Cenlllli Chins Reconstruction Ayukawa, Gisuke, '49 Company, 249. :lEiz, 26, Cenlllli Chins Rcconstruction B CompsnyA~ Celluloid, B2Iance of tmde, '740 171 Ceremony of Enthronement, 124 Balfour, Mr. Arthw: James, • ., Chamberlain, Prof. B. H., '76 Barley, 129 Cblang Kai-sbek, 1.6,149 Bank debenturc:a. S8,62 Chemical industry, 86,92, 93 Deposits at banks, 51, ,2, 60,61 Chosen, the foreign trade of, 240, 241 Discriminatory treatment of Japanese Christianity, 282 goods, 187,2°5 Chronic", of]aj>a1l, Th" %7' Df#inJt,ai, The, 214, %I, Chiigai Zaihn, Th" S7 Duty.free imports, 1St Class distinctio~ 284 ClamuItJ rtbru nt slantibus, 242 Coal liquefaction, ,60 E Company debentures, l8, 6, 134sll1'11 MtII4u, 1,208,2;5,2.38 Comintero influence, 257 E&ollDmist, The, 3 Committee for the Smdy of the Eggs, 122 Problem of Raw Materials, The, ..8 Egypt, the open door closed in, ''''' Commodities for consumption. 69 Electricity, abundance of, 107 Commodities ddicient in Japan, Emergency Capital Adjustment Act, 117,1,8 51, '9, 148, 16, Commodore Peny, '73 Emergency military expenditure, 7 Communism, 15z, IH~ 286 Emperor Meiji, 2,75 Confucianism, 273 His ode quoted, 288 Congo Basin Treaties, 222,223 Emperor Zimmu, 269 Consumption goods, 83,8... ,,, Employment, 99 Consumption of rice, u6 FNytlopa.tIia Bri/anltiea, Till, 48, lO Consumption, commodities Eurasia Aviation Corporatio~ 2..11 available for, 69 Exchange Control Act, '90 Control of Imports and eaports, '90 Ex-Gennan colonies, the open door Conventional tariff, 180 denied in, ..6 Cost of the World war, 22 Exports, ratio to production, 69 Cotton, raw, 136 Extra-"'rritoriality, 'J8 Covenant of the League of Nations, z26, 242,281 Crocker, W. R., 193 F Crowther, Geofrey, 149 CurtissAmericanAviationCo. Z2I,%51 Fa#fII'.1 SJaliJluI, ThI, 7~ 73,7f, 78, 84, 89, 91, 9%, I~ 201 D Fascism, I,Z. 153 Federation of British Industries, Daijo- B, '''I 2.0" %08 Dllimyi, 12, Fiftlll Rlporl .n till Nolional Cm/tIS of Debuchi, Katsuj~ 'B 1930, Till, 2.0, Decentralization of industry, 107 Fischer process, .6. Definition of the tenD ., industry" as Five articles of Imperial oath, 27l, 277 used in the U Nine-Power" treaty, Food (Defence Plans) Department ..0 (U. K.), 119, '31 Definition of the term "opendoor" 219 Food, odf-lupply in, 119 d 111/. Democracies, Il4 Food and drinks, 83 Democracy, a.86 Foodstulls, foreign trade in, U3 Density of population, '96 Forced saving in Soviet Russia, H, l6 Department of Commeroe and Foreign trade in foodstulls, u3 Industry, '38 Foreign trade, principal eventl Dependencies Uapancse), 69,70,7' affecting, 192.3-1938, 184 INDEX 319 Fomgo tIlIde of I China. '31, 039 ChOsco, 240 Ideographs, Cli", Japan Proper, '" n ~o. 23,,239 uwa O1'''wo", Foreign Inde policy, '7' ., SIfJ. CI Sun and Origin u, FIallCe, Japan's tteaty with, of '911, "harmony", '79 nliteracy in, F~tIlIde policy, '78 India, Z'3 Japan for=! to aboodon; ,83 Japan, .. , FIeOCb West Africa. the open door Poland, ZIZ closed in, uS U.S.A., FlIf1IlDfD illllli, TIN, 124 Import Duties Act (U. K.), Import quotas, ZOS Imporm of rice into Japan, 1>7 G Imporm of M>tbinery into the Esatem countries, 117 General IIlIgaki, '49 Income~ IZ, '3 Germany, 'Sz, '13, '17 India, Gold, production of, '00 illiteracy in,. .. , Gold Production Act, 99 standards of living in, .. , Government bonds, Industrial Bank of Japan, 10,62 amount subscribed for in 1938, ,8 Industrial efficiency, 88 for=! holding disclaimed by the Industrial Ezpansion Programme, Finance Minister, 6% 94,9S in foreign currency, 64 Industrial production, 14, 7a ,I Slf. outstanding, 62 Industrial pro6.. , 86 prices of, 63 Industrial shares, market value of, 14 redemption of, 63 Industrialization of agricultural Govemmeot-owned factories, 76 vilIages, 110 Great Bri~ 178, 18,. 187. 198 Industry, the term de60ed as used in Great Earthquake, The, '74 the U Nine-Power II treaty, 2.2.0 Gregory, Prof. T. E., ",,6 Institute of Aeronautical Research, ,0' Institute of Pacific Relations, 192,:&04, 2.10 H the Japan.. e Couocil of, 114 International Labour Office, .08 188, 192, 2IO, 243 Heavy-', industry, development in, l1II"",,/i... 1 LoboIII' Ofo 78 ,1 1,,/. Y,.,.·Book, The, 8S Hearst. William Randolph, 'S4 Intero.tional Convection of '9'7 for Herr Hitler, I, S the Abolition of Import and Ezport Hijikata, Prof., .6, 067 Prohibitions and Restrictio~ 179 HintmtrJIIJ lID. 2.71 Intolerance, Japanese dislike of, '13 ~ Baron Kiichiro, 'B,oS6 " Inventory method OJ J 33 Hiltory of jopa., A, by James Iran. the open door closed in. 223 Murdoch, Iraq, the open door closed in, 224 Housing question, Iron ore, Australian embugo on the Hovel, the term, exportation of, 229 p.e INDEX lshiwa~ Sotaro, 61 K 1,2, tB. In Italy, Kagaw., Toyohiko, ,S4 ItO, Hideo, 16S Ka,mhr.t'. Thl, 102, 109 Kashiwazaki Works of the Riken J Heavy Industry Co., 109. J 13 Katii, Dr. Gcn-eb!, '79 James, Ernest W., 2S9 KempO, Prince Shotoku's J-p.. Adutrli'Ir, The, 247 273. 2.7', %'79 Japan compated with otheJ: oountrics, Kishi, Shlnsuke, 106 density of population, 196, 199 Kojiki, Tbl, 271 duty-free imports, 181 Koh< U1 dutiable imports, lSI In, The. estimates of na- growth of population, 19S Kok~sei illiteracy, tional wealth by, H 21, Konoc, Prince Fumimaro, 2,6 imports of food, 121 Korean eultivation of dee in Mao- ""tional debt, 67 choukuo, 118 national income, 19 KoIIHIa11l4, 286 new capital raising, S9 rates of import duty, 181 Kuomintang GOverm:;:t,24S, z¥), 2,6 standards of living. :no taxes, IS ttade, 171 L J-poni. Chi.. , by T. A.Bisooo, "S,249 Law for Emergeney Measures relat- Jopon Lzbour Y..,-Book. The, 7' ing to &ports and Imports, 141 japan's aims in China, 2SS Labour, absorption of IU!plus labour JoptuI s EmfIDmU Posilion, 78, 106, 176 in agriculrutal distriets, 110 Japan in world trade, 17% Labour sbortage of, .01 Jopon: Tk HMnn GN4II, lAnil4l, 16S 79. 88, 267, 28, Lan.sbuty, Gcnrge, '1' japan's ttade with the British League mandata, ..6 Empire, 174 League of Nations, 198, 200. 2.01 japan's ttade with the U. S. A., 17S The CoveR2Dt of, 2.26, %42, 281 .. Jzpanese Bible ", The, 124 Leguminous products, m Japanese oompanies, the total market Liberalism, .S6 value of the sbares of, l4 Loeal Government Bonds, 1" 6. Japanese dislike of intolcmnce. 279 Lord Baruby, %06 Japanese economics, 26,. 2.8' Lord Ucil, >16 Japanese Government's statements, Lord Lytton, ..6 of Nov. 3. 1938, 24' Lufthansa Company, a%% of Dec. 19. 1938, 2,Z Lytton Report, ..6 of Dec. • ., '9'S, 2S6 Japanese goods, diseriminato'Y tleat- M meo.t of, 187. 20, Japanese imports into Maochoukuo, M2ebinc-tools, JOI, 103. 104 234 Maebinery, II Japanese menace ", 244 Produetion, imports and Jzpanese spirit, 267" 114. aportsof, Jews, 11' imports into the Eaatcm Joint East African BoonI, >17 countries, liS INDEX 321 Machinery industry, 92, 93, 101 Municipal-owned factories, 76 MacKinley, President, 222 Munitions, orders for, 109 " Magna Carta " of Japan, 275, 278 Man, Merchandise and money- the three" M's ", 201 N Manchesler Guardian, The 2, 137, 149, 198, 216 Nakamoto, Miss Takako, 143 Manchoukuo, Nambu district, 143 capital goods, imports of, 234 Nambu Tetsubin Ko, The, capital investment in, 56 National debt, Chinese immigration into, 237 National General Mobilization consumption goods, imports of, 234 Act, 96 Five-Year Plan, The, 57, J06 National income, 23 el seq. foreign trade of, 239 estimates by Mr. Kamekichi Japanese imports into, 234 Takahashi, 30 Japanese investment in, 56, 253 estimates by various authorities, 26 Korean cultivation of rice in, 128 growth of, 23 Open door in, 149 in 1930, population increase in, 238 since 1930, 25 et seq. production of, 237 per capita, 19 trade of, 233, 234 proportion of taxation to, 15-17 Marshall, Alfred, 287 various factors affecting changes Meat and other food, 133 in, 31 Meiji, The Emperor, 275, 288 National investments, 5 1 Meiji Restoration, 125 National registration, 204 Mencken, Jules, 149, 155 National savings, 46 el seq. Metallurgical industry, 92, 93 Definition of, 48 Military expenditure, 7 estimates of, 49 Milk, 122 growth of, 46, 48 Mineral products, 97, 98 National Savings Encouragement Ministry of Social Welfare, 139, 203 Bureau, 59, 61 Misleading figures quoted by Mr. National wealth, 33 el seq. T. A. Bisson, 235 estimates up to 1930, 33 Mitsubishi Bureau of Economic estimates by Mr. K. Takahashi, 36 Research, 82 estimates by the present estimates of national investments writer, 38,43,45 by, 52 growth of, 33,46 estimates of increases in deposits per capita, 34 by, 52 Nationality of Japan, 151 " Mobilization" of commodities, official text-book on, 266,280 135 et seq. Natural right to expansion, 200 effects of, 140 Nazism, 152, 153 Monlhly Bulletin of Slatistics of the Netherlands Indies, 183, 188, 198, 245 League of Nations, 14, 85, 90, 139 New capital, 55 el seq. Morocco, the open door in, 227 the raising of, 55 Most-favoured-nation clause, 180, 188 requirements, of, 56, 58 " Mostorg ", 84 supplies of, 58 Moto-ori, Norinaga, 273 "New Deal", 149 Motor-car industry, 101 " New Order in East Asia, 245 et seq. INDEX the Foreign Minister'. Overol2fling in Japanese industry, 8tatement on, 2.,2.-2,6 80,9' the Prime Minister's statemeot on, 2S6 p N,,,, York Tim", ThI, " S, Next war, ISS Pai Chung-hs~ I Nigeria, IS6 P_ J Sulphate of ammonia, 8I Union of South Africa, 186 SlI1IItrtl Mikolo, 278, 288 University of Bristol Socw Sun Godd.... 1%4. 121 Survey, %16 Supply of staple food in Japan, 121 Urszato-mura; no,~lu Surplus IaboUJ, absorbed in U.S.A., 188,212 agricultural disrricts, 110 Uyeda, Prof. Teijiro, 114, 193 Surplus population, .01 Sweated IaboUJ, .06 v Sze, AllIed, '32 Vacuum bottles, T Versailles Treaties, Taiwan, %40, %41 w Takabashi, Kameklchi, 14, 15, .6-31 estimates of national income by, 26 II Wa" (bannony), estimates of national investment Washlngton Conference, 219, UI, 23% by, Wsambe, Masato, 117 estimates of mtiooaJ wealth by, Wheat, 12.3, U9, 130 Tangaoyika, Wheat flour, 110 Taoin, impom into North China, '1' Textile industries, 8r, 83. 84 II White man's burden", 1,6 Things JafMM", by B. H. Cham- Wool, 116 berlain, '77 Wool from soya-beaos, 167 Three II M's ", '01 World rrade, Japan'. position in, Tim,s, TIN, "6,, .08 World War, TD~ Asabi, The, lof2, 147 W ...k/ Emoomk Stnty, Totaliwim ."'te, 137 Worhr's SI41ul4rJs of Ullin:. TbI, ZlO Totalitarianism, 1St, 286 Whyte, Sir Frederick, Japanese Prime Minister'. 8tatement~ y Tout, Herbert, 268,27Z Trad~ sec " foreign trade " Treaty of Kaoagaws, 268,2,1S, Trade Defence Act of 1934, 2.77. 278, dr, 287 .68 Tungcbow massacre, y...... ,,,,Gohn, YampiSound, "9 Yeo, sabilization of the, 191 u Yoban, Unemp1oyment, WI Commission on, 118 Z UDion of Democratic Conrrol, The, IJI za8, 234. 238 ~ The Emperor, tlllII+.... I!I~II+ .. BIII • • "'+11. II 1Ii-'J\BlI '11. THE ECONOMIC STRENGTH • ~FJAPAN • a ill CD:Jl:b. lI'fFlfiPJf'fi -:~. • t .11. ..QmUJIf=:TI+::lIlI 1118·. IJ'i!I'1j: ti it P"''''20Ill.lI!JIf-TU=.M u; .. It ft Dr ~~ & ~. if m ..,.,.m_aTI·t=.M 111 •• 18 - .. =..;/1. • •• 11 ••• ->'<0=. ... THE HOKUSEIDO PRESS KANDA. TOKYO, JAPAN ON .A~.Y """011 .oale-.au..all. THROUGHOUT PAil .".T AND A .... ICA 12s. in E",../>I $ 3.00 in AmnUlZ