Page:Japan by the Japanese (1904).djvu/179

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THE NAVY
141
Conclusion.

The strength of the Imperial Japanese navy will be maintained in the following manner: In 1899 an Act was passed supplying 30,000,000 yen as a fund for the reconstruction of ships and torpedo-boats. This sum of money was placed in deposit at the Treasury, and increases by compound interest. This interest (saving always the 30,000,000 original) can, at the discretion of the Minister of Marine, and making it clear in the Budget, be expended on reconstruction works. In addition to this, from 1904 on, the fund is added to per annum according to the following proportions:

For protected ships, 3.9 per cent.; for unprotected ships, 5.4 per cent.; for torpedo-boats, 6.15 per cent. of the value (first cost) of a warship or torpedo-boat.

Ships and torpedo-boats which have been constructed for the following periods are removed from the list, and no funds are raised for them: Protected ships, twenty-five years; unprotected ships, eighteen years; torpedo-boats, fifteen years.[1]

  1. ↑ Tables showing pay and wages in the Imperial Japanese Navy are given in Appendix D.
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