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It remains to be noted that, in 1897, Japan took the momentous step of adopting gold monometallism. The indemnity which she obtained from China after the war of 1894-1895 brought to her treasury a stock of gold sufficient to form a substantial specie reserve. Moreover, gold had appreciated so that its value in terms of silver had exactly doubled during the first thirty years of the Meiji era.
These bonds constituted the bulk of the State's liabilities during the first half-cycle of the Meiji era, and when we add the debts of the fiefs, which the Central Government took over; two small foreign loans; the cost of quelling the Satsuma rebellion, and various debts incurred on account of public works, naval construction, and minor purposes, we arrive at the broad fact that the entire national debt of Japan did not exceed 305 million yen at the close of the twenty-eighth year of her new era.
Among its graduates were several historical characters, notably Katsu Rintaro, after-wards Count Katsu, minister of Marine in the Meiji Government. There, the first attempt at shipbuilding on foreign lines was made, and there, also, is now situated the premier private dockyard in Japan, namely, that of the Mitsubishi Company.
But throughout all these changes the leading statesmen of Japan have gone along the road traced out for them at the beginning of the Meiji era, and the nation has followed them with ever-increasing faithfulness. One single purpose has animated leaders and followers alike: the strengthening and extension of the Empire.
But instead of performing that duty the Meiji statesmen saw themselves compelled to follow the evil example set by the fiefs in past times. Government notes were issued. They fell at the outset to a discount of fifty per cent, and various devices, more or less despotic, were employed to compel their circulation at par.
For a picture of Japan as it appeared in the early years of the Meiji era, Lafcadio Hearn is of course invaluable; his book Japan, An Interpretation shows his dawning realization of the grim sides of the Japanese character, after the cherry-blossom business has lost its novelty. I shall not have much to say about cherry-blossom; it was not flowering when I was in Japan.
These are really the homes of devils. "The head of the crowd is Moffett. The Christians of the place obey him as they would Jesus Himself. In the 29th year of Meiji freedom was given to any one to believe in any religion he wished, and at that time Moffett came to teach the Christian religion. He has been in Pyeng-yang for thirty years, and has brought up a great deal of land.
ONE of the problems which invited the attention of the new Government early in the Meiji era had been handed down from the days of feudalism. In those days, neither Yezo nor Saghalien nor the Kurile Islands were under effective Japanese administration. The feudatory of Matsumae had his castle at the extreme south of Yezo, but the jurisdiction he exercised was only nominal.
The mirror, of the language itself, reflects more truth upon this point of inquiry than do patriotic assertions, or the protests of those who in the days of this Meiji era so handsomely employ the Japanese language as the medium of thought.
Slaves proper were registered in the names of their owners: they do not seem to have had a cult of their own, in early times, at least. But, prior to Meiji, only the aristocracy, samurai, doctors, and teachers with perhaps a few other exceptions could use a family name. Another queer bit of evidence or, the subject, furnished by the late Dr.
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