1918. The demand for munitions of war naturally came to an end, but the rate of exchange on Europe continued on a high level. At home the cost of production had greatly increased owing to the ad- vance in wages and the higher prices of industrial materials, whereas the enriched public demanded a higher proportion of the necessaries of life. An anti-Japanese boycott was proceeding in China to add to the curtailment of Japan's exports. All these circumstances, reen- forced by the Imperial Ordinance of Nov. 1919, for the regulation of the price of commodities, temporarily exempting certain food- stuffs and industrial materials from import duties and restricting the exportation of cotton yarns, brought about a reverse in the balance of foreign trade, which had been favourable to Japan for the preceding four years. But the fact that her exports consisted of finished and semi-manufactured articles, as well as of a huge value of raw and waste silk, whilst food-stuffs, raw materials and machin- ery were mainly imported, was a reassuring sign. Table 6 gives the foreign trade of Japan (excluding bullion) for 1909-20. Table 6. Foreign Trade (in 1,000 yen)
Exports
Imports
Excess or deficit of Exports
1909
4I3."3
394,199
+ 18,914
1910
458,429
464,234
- 5,805
1911
447.434
573,8o6
- 66,372
1912
526,982
618,992
92,010
1913
632,460
729,432
- 96,972
1914
59i,ioi
595,736
- 4,634
1915
708,307
532,450
+ 175,857
1916
1,127,468
756,428
+371,040
1917
1,603,005
1,035,811
+567,194
1918
1,962,101
1,668,144
+293,957
1919
2,098.873
2,173,460
- 74,587
1920
1.948,395
2.336.175
-387,780
Coin and Bullion. -As regards the movement of gold and silver coins and bullion, the balance of trade in favour of Japan, coupled with the increase arising out of freight, charte/age and so forth, had resulted in an unusual influx of these metals since 1916, and in the following year the high-water mark was reached, the import being 392 million yen (40,000,000) as against the export of 154 million yen (15,700,000). But owing to the ban placed on the export of gold in the United States in 1917, the import of the precious metal to Japan dwindled in value to 5 million yen (520,000), whilst in view of Japan's own embargo on gold, instituted later as a measure of self- preservation, the export only amounted to 937,000 yen (96,000). In 1919 there were imported 327 million yen (33,500,000), as against an exodus to the value of 5 million yen (520,000) ; and in 1920 405 million yen (48,600,000), as against 4 million yen (410,- ooo). The United States had raised her embargo on gold, but Japan had not yet done so in 1921.
Distribution of Foreign Trade. The dramatic expansion of Japan's foreign commerce was not only in the old markets in Asia and America but to the new fields in the South Seas and Africa. The geographical distribution of the expansion in terms of continents is shown in Tables 7 and 8.
Table 7. Exports, by Continents (in 1,000 yen)
To
1913
1918
1919
1920
Asia America Europe Australia Africa .
275,928 191,761
147,225 8,638
1.846
935,550 597,175 298,257 64,828 46.811
995,146 877,925 194,853 30,826 24,107
998,374 632,159 195,590 58,117 38,842
Table 8. Imports, by Continents (in 1,000 yen)
. From
1913
1918
1919
1920
Asia America Europe Australia Africa .
348,055 127-035 220,290
14,943 7.189
812,713 655,011 82,787 48,874 38-627
1,074,370
791,643 162,970 56,635
53-168
942,547 910,648 305,318 62,459
87.157
In the receipt of exports from Japan, the United States of America has always headed the list, the zenith of purchase being reached in 1919-^that country taking 29 % of the total value of exports in 1913, 28% in 1918, 39% in 1919, and 28% in 1920 and she has been followed immediately by China (including Kwantung province), whose shares in those years were 29%, 25%, 28% and 27 % respec- tively. Next to China, though with a wide hiatus, came France in 1913 and then followed Hong-Kong, Great Britain, British India, Italy, Germany and others. But British India and Great Britain had surpassed France by 1918. Notable, also, are the advances of Australia, the Dutch East Indies, the Philippine Islands, Egypt, Argentina, British America, Cape Colony, Hawaii and others in the scale of demand for Japanese goods.
As regards imports into Japan, British India, which had been the chief supplier for several years precedent to the World War (her share was 23% in 1913), yielded her place to the United States in
1916. The value bought by Japan from the latter country aggre- gated 766 million yen (78,400,000, 35 % of the total) in 1919 and 837 million yen (85,700,000, 36% of the total and nearly five times the figures of 1913) in 1920. Great Britain's sale to Japan showed a marked decline during the war, but in 1920 a revival had set in. As in the case of exports, Asia, the South Seas, South America and Africa have all contributed fair shares to the advancement of Japan's import trade; but various European countries, including Germany, commenced to resume their activities in 1920.
Tables 9 and 10 show the development of Japan's foreign trade in more important commodities.
Table 9. Principal Exports (in 1,000 yen)
Article
1914
1918
1920
Silk (raw waste, floss, etc.) .
169,720-7
412,848-9
418,140-7
Silk tissues and fabrics
34,022-8
ii7,532-8
158,416-0
Cotton (yarn, thread, etc.) .
81,242-5
i75,368,-7
1 73,435-3
Cotton tissues and fabrics .
34.840-7
237,913-1
334,966-0
Drugs (chemicals, etc.)
23,8197
73,660-2
68,984-8
Matches
7,619-1
37,742-5
28,543-0
Coal
23,9l4-5
32,009.4
45,200-0
Cement
1,033-0
6,010-1
10,059-9
Pottery and glass . .
8,914-8
36,037-0
54,691-2
Clocks, scientific instruments
4-548-9
30,561-3
34,182-1
Ships
711-1
80,060-7
15,829-0
Sugar, refined
12,382-8
23,252-1
30,592-9
Metal manufactures
3,490-4
48,562-5
38,447-9
Copper
28,467-5
44,702-7
12,313-0
Rice
4,974-0
8,317-6
5-897-5
Kidnev-beans
832-8
30,194-0
5.287-9
Starch
123-3
29,610-1
4,996-2
Tea . . . .
12,709-9
23,056-3
17.112-5
Aquatic products .
13,416-1
l7,099-3
i7,342-6
Clothing .....
23-876-3
83,001-4
88,487-0
Table 10. Principal Imports (in 1 ,000 yen)
Article
1914
1918
I92O
Raw cotton ....
218,974-5
5i3,738-4
720,160-5
Iron
41,662-9
3io,39i-4
279,222-2
Rice
24,823-9
89-755-6
l8,059-I
Wool
l4,783-7
6i,432-7
121 982-7
Drugs, chemicals, etc. .
37,372-7
77,963-4
140,906-7
Machinery ....
24,942-3
58,497-9
110,571-3
Sugar
21,833-4
33,693-8
61,034-3
Oils, fats, waxes and manu-
factures ....
17,077-7
33-312-9
60,340-2
Metal manufactures
8,468-4
33,35i-i
47,009-5
Skins, hair, bones, horns, teeth,
etc
8,165.0
28,583.7
44,847-7
Dyes, pigments, coating and
filling matters
8,080-7
22,002-1
34,44'-6
Tissues of wool
10,225-1
"-485-5
31,270-2
Paper, books and pictures .
10,445-8
I7-765-4
36.191-7
Industrial Development. Although the expansion of Japanese industries was enormous during the Word War, the rate of progress registered in the pre-war period of 1908-13 had also been remarkable. In 1908 there were 1 1,390 industrial establishments and 196 Govern- ment factories; in 1913 the Government factories had decreased to 188 (in 1918 there was a further drop to 161), but the other indus- trial establishments had increased in number to 1 5, 8 1 1, or 38-8%. By 1918 the figure had risen to 22,391, an increase of 41-6% on 1913 and 96-6% on 1908. In a decade, that is to say, Japan had prac- tically doubled the number of factories in operation. Table II illustrates the development.
Table 11. Industrial Progress
Government Factories
No.
Motors
H.P.
Men
Women
1908
1913 1918
[06
188 161
1-746
5.2H
7,014
169,510 292,177 361,226
98,533 99,992
123,087
25,351 29,994
36,349
Industrial Establishments
1908
1913 1918
1 1 ,390 15,811 22.391
11,848 20,013
42.436
379,556 916,828 2,006,098
248,751 375,596 646,115
400,925 540,656 763,081
It is significant that the number of male workers employed increased in a higher proportion than that of the female workers, showing that the trend of -expansion was in the heavier grades of production, such as the iron and steel industries and shipbuilding. A striking advance was also attained in the use of mechanical power in factories, for not only had the number of motors in actual use advanced by 68-9% and 112% in the first and second half of the decade respectively, but the actual horse-power developed had increased to the unprecedented extent of 141-5 % and 1 18-8 % in the same periods. In other words, Japan nearly quadrupled the number
