BARON TAKAHASHI
Inthe two great branches of state craft, diplomacy and finance, it is interesting to see the interchange of qualities and the intellectual dominance of each is usually thought to be most marked, still there have been men of rare human qualities, who were financiers and diplomats as well.
Baron Takahashi unquestionably belongs to this class who weave, as do certain scientists, a romance of facts or more justly speaking comprehend the intense humanness of dollars and cents.
Five times he has crossed the ocean to visit America on commercial missions and brought back a fund of observation, as well as more material baggage. He has put his finger on the pulse of Wall street and discovered some of the causes of its fitful and erratic pulsations, and has even after bearing the tremendous financial burden of a country in its hour of extreme need come out with the vigor and the magnetic vitality of a man of the future, not of the past.
We thought of Necker at once and the cheerful Latin optimism seemed in the speaker and in his person.
“Japan has not yet recovered as we know from the late war, and she requires foreign capital, we must look to the world’s markets for it. Unfortunately for us we must wait for our loans until the affairs of other countries are on a better basis or rather in a less fluctuating condition than they are to-day. I believe that if men of capital will continueto invest in my country, it will be to their advantage and I am also desirous for the mutual good of both, that these investments be as safe as possible and in this I have been and will be an intermediary.
“From the standpoint of investors England and Germany are unquestionably the safest and surest markets to-day. Financial security always goes with freedom, the United States has such serious abuses of power that freedom becomes disturbed and so as by a paradox tyranny often reigns.
“The continual warfare between labor and capital gives rise to uneasiness and disturbs the market, as does the lax social conditions the sequel of the indiscriminate immigration and it has the seeds of revolt against established rule.
“Something must be done with the banking system in America and there must be reforms also in the monetary system. The peculiar centralization of the gold in Washington and so in an event of crisis the intervention coming wholly from there, is not advantageous. A central banking system as in Germany should be established. The amassing of great fortunes is not however as many suppose an evil, money is never idle except unspent in the pocket of the poor man! The rich man puts it at once to use. Turning to Japan we see some very hopeful signs and some serious drawbacks. Foremost among the things which promise most, are the sugar plantations of Formosa. If in a few years she furnishes us with most all the sugar we need as we expect and Korea with her vast territory as yet waiting for energy and for intellect to develop can give us cotton, we shall find these great items in our imports changed to sources of income and in the near futurea trade balance in our favor. This cotton of Korea is of far more value to us than her gold mines. One of the major drawbacks in Japan commercially is the want of co-operation among small manufacturers and work men handicrafts.
“We feel this primarily in the exports to China. Take the case of Manchuria. The Chinese are very observing and they can tell the difference between our work and German work at once and they prefer to use the German although they must pay more for it.
“The cause of this is often that a poor manufacturer is many times compelled to over-produce under great pressure and turns out half-done work, even when he knows it means no more orders.
“Local authorities are trying to urge combinations among manufacturers, but so far have met with little success.
“This isolated working purely for self interest is undoubtedly the root of what is called Japanese commercial dishonesty.
“To France we must turn to-day to see the supreme example of thrift and industry and reciprocity of helpfulness. Japan unfortunately does not yet give us as hopeful a picture of economy.”
Laughingly assuring Baron Takahashi that we had a personal sympathy with the people who could not save, he answered playfully that we must all acknowledge the wisdom of providing for old age and children, and with that very human and humane observation our interview was closed. We felt the man spoke rather than the financier.