Page:Japan by the Japanese (1904).djvu/347

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FINANCE
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desired to progress more rapidly than did the higher. The result was that various laws, or sets of laws, were introduced from various countries, and put into operation with the assistance of French, German, or English lawyers. This had as a necessary result inconsistency, and even discord, between the different parts of the legal system.

The Europeanization of the country having progressed very rapidly, the foreign Powers might have been expected to have been ready to consent even earlier to a revision of treaties, but as a matter of fact this was not so. When the first conference of the representatives of the foreign Powers bound by treaty to Japan was held, I was Foreign Minister, and it was my earnest desire to restore tariff autonomy to Japan. It seemed to me to be most necessary that we should have the power to protect our industries should it be found necessary. On looking at the systems in force throughout the world, I found that the universal tendency was in favour of protective tariffs. England was the leading exception, and it is well known why she is an adherent to the principles of Free Trade. Thus it seemed to me that it was only just to Japan that she should be allowed to follow the example of other nations, and erect tariff walls if she should so desire. The foreign representatives, each bent upon obtaining as much advantage for his own country as possible, refused to restore autonomy to Japan in her tariff affairs. I therefore resigned my office, since it was impossible for me to arrange matters for the highest good to Japan.

In 1894 came the war with China, which must be regarded as a very victorious one, when we consider the action of the army and navy, and also the fact that 350,000,000 yen were paid as an indemnity. It is a curious thing that the very magnitude of the indemnity produced such effects as to make one imagine that a victorious war may be almost ruinous to the victor. Up to the time of the payment of the indemnity there had been no occasion to use the phrase hundreds of millions of yen in the financial government of the country. The revenue had only reached 80,000,000 yen. Thus the idea of 350,000,000 yen coming into the country produced a feeling of illimitable riches both in Government circles and to the private individual. All branches of the Government were enormously expanded, the unproductive as well as the productive. The vast sum of money brought into the country did not benefit it at all; indeed, it did more harm by causing a mushroom growth of industries. The fact was that all the hard cash went out of the country very rapidly, both through Government and individual action. The industries that were established were dependent upon outside assistance, and only