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teachings of the Chinese classics, and we cannot at present compete with them.

While I was studying in America, Mr. Holmes, now Associate Justice of the United States Supreme Court, told me a story which, I think, aptly demonstrates the difference in the economic point of view between the Western countries and Japan. His story ran as follows: ‘Several hundred years ago there arose in Europe a movement called the Crusades. In these many Sovereigns of Europe took part, or sent their Princes to hold the positions in their place. These crusades were the outcome of a joint resolution of Christendom to preserve Christ’s tomb at Jerusalem from the Mohammedans. They accomplished their purpose. But the matter was not yet settled, as a discussion arose among the Sovereigns of Christendom as to the further protection of the place against the return of the Mohammedans, and also about the repairing of the sacred tomb. The English representatives having by this time returned home, the other Sovereigns of the European continent demanded that the English should help them to settle the difficulty, to which England replied: “You are welcome to Jerusalem; I want the money I can get out of it,” and began to trade with the natives. So England did not shed as much blood in the fight for Jerusalem as the other nations did, but followed up the results of the Crusade by opening commercial transactions. This was the economic spirit of the Englishmen, from whom the Americans have sprung.’

The more I study the politics of the English and the American Governments, the more deeply I am impressed with the truth underlying this story, though the point of view is foreign to Japan. If Japan were a Christian country, and had fought for the cause, they would have—if only for the maintenance of their dignity—to strive to permanently keep the land from its foes. Such is not the case with England. They would bring out their manufactured articles, and return with heavy pockets. However mean this line of action may appear to us, it has proved beneficial, and the English Government is encouraging it by the issue of laws for its foreign and commercial departments.

In regard to the economic policy of Japan, I presume there are many different views, and I also believe that all views should be disclosed for the interests of the country. We will, of course, recognise the views of statesmanship as such; still, all views coming from outside of Governmental offices, whether they come from the politician or the scholar, should be regarded with due consideration, for there can be no politics developed without the practice of politics, and no economics outside of practice.