Expenditures of the Russo-Japanese war / by Gotaro Ogawa.

CHAPTER IV

MEANS ADOPTED TO FILL TEMPORARY DEFICITS
IN THE FUNDS FOR WAR EXPENDITURES
We have dealt with the war expenditures and their
resources, separately and statically, in the two preceding
chapters. If we now consider the dynamic relation between
these, we shall find that deficits in the revenue of war funds
from the sources selected were neither infrequent nor inconsiderable, and that occasionally there was a considerable
amount of excess in the disbursement of war expenditures
demanded by the exigencies of the war. To supply temporary
deficits in the funds for war expenditures, items of revenues to
the Treasury other than war funds were temporarily appropriated, exchequer bonds were issued, temporary loans were
made from the Bank of Japan, and war tickets payable at
sight were issued, all limited to such an extent as to be redeemable with the revenue of war funds. As already stated, the
war expenditures consisted of extraordinary military expenses
and extraordinary affairs expenses. The latter were treated
as part of the ordinary expenditure in the general accounts
and the amount was also comparatively small; therefore this
item is left out for our present purpose. Of the extraordinary military expenses, we shall consider those below the dynamic condition of revenue and expenditure and the various
means adopted to fill the temporary gaps between the two,
these forming the main part of the war costs.
As is evident from what has already been stated in previous
chapters, the funds raised to meet the extraordinary military
expenses were composed of receipts from loans, funds transferred from the general accounts consisting almost entirely of
revenues from the tax increase, etc., and funds from the special
accounts, contributions to war funds, and others. To show
the general results of revenues from these sources, we give
below the receipts for every six months:
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