Page:Japan by the Japanese (1904).djvu/491

having been prohibited, the export of mining products was completely stopped. The gold, silver, copper, iron, and other mines in those days were all worked by the Government, and even after the Restoration, when foreign trade was permitted, the principal mines in the country continued to be worked by the Government in such an extravagant way as to prevent them from becoming paying concerns. The other mines that were worked by private capital were not more successful, on account of the want of sufficient capital, and also because of the primitive way of working.

While the mineral wealth of the country was thus undeveloped, Mr. Furukawa undertook to work the Ashio Mine, which under his guidance and leadership has become practically the most successful mining business in Japan financially. In this way he proved the possibility of the successful and economical working of a mine as a private undertaking.

In 1885 Mr. Furukawa bought from the Government the Innai Silver-mine and the Ani Copper-mine, and when the work became fairly established under his management he invested further sums, and became the owner of practically all the principal mines in the northern portion of the Main Island. The work thus acquired was extended and established on a sound basis, gradually proving a business success. The formation of a Copper Syndicate in Europe led to the price of copper suddenly appreciating, thus increasing Mr. Furukawa’s profit. The syndicate having been found to be speculative in its transactions, Mr. Furukawa, instead of selling his copper direct to the syndicate, sold it through Messrs. Jardine and Co., to which company he bound himself to sell his total annual production at a fixed price for a term of three years. By this arrangement he luckily escaped the loss consequent upon the disappearance of the syndicate. He utilized all the profits he thus obtained to introduce improvements in the workings of his mines, of which the smelting works received his principal attention. In 1893 he introduced the Bessemer system of smelting matter. He was not only the first in Japan to adopt that system, but the first to adapt the system to copper-mines. Seeing also the necessity of introducing the most improved methods in reduction work, he established the Shinonome reduction system in all his copper-mines in the north-eastern district. In Tokyo he established the Copper Refining Works, where electric refining is employed and copper wires are manufactured. He also has a coke factory, which supplies his smelting furnaces with its output. The mines and factories owned by Mr. Furukawa are as follows:

Ashio Copper-mine, Ani Copper-mine, Daira Lead-mine, Hachimori Silver-mine, Shinonome Reduction Work, Furogura