AMERICA-AND JAPAN.

Dominion, Volume 2, Issue 417, 28 January 1909, Page 5

AMERICA-AND JAPAN.

;i ; ;'-t'-ft REDUCED .mfAMENTS; (bi TEtEaß*i"u--rPaES3 AssocuTtoNf <opxnrauf.l '•:' 'i' ( .';■..•' ■'■'•■.•!'';' :.v:!!;K : .ton don; January. 26..;.. ! : Reuter's/agent,;at;!Tok'i'o reports-that Mar- < quis) Katsiira,,' Prime 'Minister !;' of Japan, ;speaking in the: Diet,. justified the'reductions.' 1 in Japanese armaments;;-., ■;■':.■/;::''';; : ;:■'.] ; Count Koinufa, Foreign Minister/expressed ! confidence"in.the sincerity of, the Washington; Government.,,.He;did not believe.the,!pro■poseU legislation'i-in California would in,any: :way/affe9t';tlie;relations: of ; the.;..two!' cotiii-;tries;,;!:viv::;-',!:^.',;v:;'.''!.-'! :.!: ; : '. ;" : :;:'\^-'},:■'';'■■-■'■ ' .rOn 'July! 4 ; :.of--lastiyear, the' Saionji -Govern-', meht' resigned, partly .because of the. Premier's health am. partly owing:to differences.as to its. 'financial!potior.' I The financial depression, whioh : begahiin. 1907, ■ had. hit the. commercial and' in-. 1 dust'riaT;- classes'; hard,' and ■■ the... action'! of .the .Government in::regard 'to the redemptioh'Of the-first; instalment- of :jei0,000,00p: of the! War': loan:.-lest it -the confidence .'of .the -business world.' ; ; An': : .''.administratioii ..under. Marquis Katsura succeeded it (July W). Its proposals as to .fiuiin'ce'.included cutting, down the. expendi-, ;ture and/nieetliig. all outlays ;from ;ordiriary!re-, yenue;' the-extension to eleven.years'of the pre-' .vious'sisf-years'vprogram'me'bf; armaments'and' publio:works;. : abstention from' all' loans during that period;.the increase to ;a' minimum I 'Of 'i£5,000,0q0 of'the!,a'nnuol: debt,redemption; and ■!the;placiug of-the 1 State railways to a separate aocount,,,profits tp: bo devoted to improvements for!; the 'first. three years.] '':■, -..-' ■ :;:;.. v >!.';;.