Directory_and_Chronicle_1923 — Page 504

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JAPAN

they negotiated treaties of peace and commerce. The Shogunate was founded in 1184 by Yoritomo, a general of great valour and ability, and was continued through several dynasties until 1869, when the Tokugawa family were dispossessed of the usurped authority. Under the Shogun 300 or more Daimios (feudal princes) shared the administrative power, being practically supreme in their respective domains conditionally upon their loyalty to the Shogun; but their rank and power disappeared with the Shogunate. On the 7th July, 1884, however, His Majesty issued an Imperial Notification and Rescript rehabilitating the nobility, and admitting to its ranks the most distinguished civil and military officials who took part in the work of the Restoration. The old titles were abolished, and have been replaced by those of Prince (Ko), Marquis (Ko), Count (Haku), Viscount (Shi), and Baron (Dan).

REVENUE AND EXPENDITURE

The revenue for the year 1921-22 was estimated at 1,562,542,000 yen, an increase of 227,000,000 yen compared with the previous financial year. The total of the national debt on March 31st, 1920, amounted to about 2,793,561,302 yen (roughly, £257,000,000), about one-half being foreign loans. The total of the public loans raised for the purpose of meeting extraordinary expenditures connected with the war with Russia exceeded 1,700,000,000 yen, which is three times the total amount of the loans prior to the outbreak of the war. The greater part of this huge sum was raised in Europe and America, and to effect the redemption of these loans a law was passed in 1906 establishing a national debt consolidation fund, to which a sum of not less than 110,000,000 yen (£11,267,029) has to be transferred annually from the general account. The grand total of the extraordinary expenses connected with the war with Russia was 1,982,000,000 yen (£203,073,770). The debt per head, which was as high as 48.438 yen in 1909-10, was 35.478 yen in 1913-14, 32.339 yen in 1917-18, 33.075 yen in 1918-19 and 36.430 yen in 1919-20. Following on the restoration of peace there was a remarkable boom in commercial enterprise. The European war marked a new era in international financial relations and Japan, which was solely a debtor country previously, has been raised to the dignity of a creditor country. At the end of 1919 it was estimated that the foreign credit account of Japan was upwards of 1,500,000,000

yen.

The

The Japanese Budget for 1921-22 provided for replenishing national defence, exten- ding railways, ports and roads, providing new middle-class educational institutions, encouraging land cultivation and carrying on a plan of State afforestation. expenditure for national defence was increased in 1920-21 by 99,000,000 yen and the Army's new programme involved extraordinary expenditure amounting to 486,000,000 yen, spread over fourteen years to 1933. The extraordinary naval expenditure amounted to 863,000,000 yen, spread over to 1927. The expenditure was to be met by increased income and liquor taxes and a temporary suspension of the sinking fund. For 1921 22, however, the Army estimates were reduced to Yen 183,291,000 (ordinary) and Yen 79,854,000 (extraordinary), while the Naval estimates were Yen 144,811,000 - (ordinary) and Yen 353,826,000 (extraordinary).

ARMY AND NAVY

Until the war with China, the Army consisted of six divisions and the Imperial Guards, with a peace footing strength of 70,000 in round numbers, and a war footing of 268,000, exclusive of the gendarmerie and the Yezo militia; but on the conclusion of that war a large scheme of expansion was adopted, under which the number of divisions was raised to 12, exclusive of the Guards. In 1904-5 Japan sent a million men into Manchuria, of whom more than 600,000 were combatants. After the Russo-Japanese War Imperial approval was given to the increase of the Army to 25 divisions. Every male Japanese is compelled to personal service from the age of 17 till the completion of his 40th year

At the conclusion of the war with China, Japan found herself in

possession of a fighting fleet of 43 serviceable vessels-independent of 26 torpedo-boats- their aggregate displacement being 78,774 tons. Of these, 10, with an aggre- gate displacement of 15,055 tons, had been captured from China. Prior to the capture of the Chen-yuen, now called the Chin-yen, Japan did not possess a line- of battle ship. Her fleet consisted entirely of comparatively small vessels. An ex- pansion scheme, extending from 1st April, 1896, to 31st March, 1906, was then adopted and orders were subsequently placed for ships in Great Britain, the United States,

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