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do nothing to redress the wrong, against the Chinese. Thus this disgraceful affair was settled with the Chinese government at the cost of the Coreans. The government afterward became so afraid that they are even now putting into a perpetual imprisonment those Corean exiles who acted under the connivance of the Japanese government. So far as the Japanese government is concerned, the noble spirit of the old Japanese Samurai is gone and the spirit of cowardice and treachery is substituted in its place.
As to the financial policy, there has been most extravagant mismanagement. Some years ago the government overissued paper currency and it began to be depressed. But all at once, the government redeemed the currency, thus causing the most disastrous consequences. They also made most useless interference with the trade in the interior. The price of rice always fluctuates according to the season, and the government has established a certain warehouse where they keep rice. Whenever the price rises, the government begins to sell the rice. Thus they try to keep it at a certain price instead of leaving it to natural fluctuation.
Besides they carried the overtaxation to such a degree that the land-owners often surrender their property rather than suffer the expense of keeping it. The depression of trade is such that the best part of the capital, Tokio, is inhabited by ruined people. One of the newspapers published the following account about the Central district of Tokio and it will be easily seen in what fearful state the general trade is at present in Japan.
“Upon presentation of the tax-collector’s little bill the other day, it was found that no less than one thousand persons in Nihombashi Division alone were insolvent.”
At one time it is ordered that the expenditure shall be economized as much as possible. But most unwarrantable waste is suddenly allowed, and all sorts of extravagances are committed. Take, for instance, the two steamship companies established in Japan. The one company was established some years ago, and was subsidized by the government. But suddenly the government caused another company to be established, gave a subsidy, and
