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

EFFECTS ON PUBLIC FINANCE

153

ooo yen in 1904, 35,000,000 yen to I34,000,000 yen in 1905,
452,000,000 yen to 1,725,000,000 yen in I906, and 33,000,000
yen in I907. Consequently, these two kinds of national debt
showed an extraordinary increase during the war, aggregating
64,800,000 yen to I54,800,000 yen in I904, 908,000,000 yen to
1,786,000,000 yen in I905, 1,042,000,000 yen to 243,000,000
yen in I906, and 77,100,000 yen to I33,300,000 yen in I907, as
against only 45,800,000 yen to 76,800,ooo yen for the year
previous to the war.
We may now consider the conditions of these two kinds of
public debt by the figures at the year end. As is indicated
below, the amount raised for supplying deficits of the wartime military expenditures came up to 1,548,000,000 yen
(1904) and 1,786,000,000 yen (1905), as against 568,000,000
yen for the year preceding the war. The per capita amount of
this debt rose to about twice the sum, that is, 3.092 yen or
3.526 yen, as against I.I47 yen, the amount before the war.
AMOUNTS RAISED FOR SUPPLYING DEFICITS, I903-I907 a
1903 I904 1905 I906 1907
Raised for
supplying
deficits of
war ex- Yen Yen Yen Yen Yen
penditures 7,000,000 92,000,000 134,000,000 48,200,000....
Others..... 49,849,200 62,849,000 44,624,200 86,495,333 77,I46,614
Total.. 56,849,200 154,849,200 178,624,200 134,695,333 77,I46,614
Per capita
amount... I.147 3.092 3.526 3.527 1.488
a The per capita amount in the above table is based on the Statistics of National Debt, compiled
in I907-8. But the figures for I907 are the results of the author's own investigations.