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

EFFECTS ON COMMERCE

I93

articles of merchandise. The exports during the war, divided
into foodstuffs, finished goods, and raw materials, are shown
in the table at the end of this chapter.'
It is to be noted that of the exports raw materials suffered
most from the war, but their decrease was more than made
good by the increase in the finished articles. That the
decrease in export of raw materials was specially great was
due to the fact that they were needed for war purposes.
Copper, leather and hides, cotton yarn, coal, etc., showed a
decrease or comparatively little increase in their export,
because they were largely employed for the manufacture of
war supplies. The following table comprises the most important of the articles diverted to war uses:
IMPORTANT EXPORTS DIVERTED TO WAR PURPOSES, 1903-I905
Articles 1903 1904 1905
Yen Yen Yen
Refined copper................ 14,717,029 12,771,497 I6,008,333
Cotton yarn................ 31,418,613 29,268,445 33,246,461
Cotton blankets............... 404,188 292,794 508,036
Cotton fabrics........ 6,875,309 7,743,432 11,492,085
Coal (lump).. 7,605,216 I3,374,428 12,679,271
Railway sleepers.............. 923,829 976,780 I,I 8,590
Total................... 7,944,I86 64,427,386 75,052,776

The remarkable decrease in these exports for I904 was
brought about by the fact that, in the early stage of the war,
Japan had to resort chiefly to those war supplies found in the
country, and by the further fact that the transportation
facilities, both at home and abroad, were probably too disturbed to allow of their export. These hindrances were mitigated in 1905, and therefore, in spite of a greater demand for
war supplies as the situation developed, the export of these
articles was increased. Moreover, these exports went chiefly
to Korea and Manchuria, and the people of these countries
had a larger purchasing power, silver having gone up in price
and our war funds being scattered among them. In regard
Post, p. 203.
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