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

230 ECONOMIC EFFECTS OF THE RUSSO-JAPANESE WAR

the enemy warships, which caused no small congestion of
freight.
Under these circumstances it was but natural that the
freight rates were raised. Upon the commandeering of vessels just before the actual outbreak of the war, the freight
rates on coal between Moji and Yokohama rose by some 50
per cent, and the rates on other goods rose by 20 to 30 per
cent, while the general coastal rates rose by 20 per cent, as a
rule. This upward tendency was accentuated after the
declaration of war, and in the middle of February the association of the owners of tramp steamers passed a resolution,
which was promptly carried out, recommending the raising
of freight rates by 50 per cent. And in the latter part of the
same month, when the shortage of bottoms was felt most
keenly, the freight rates between Osaka and Korea rose by
50 per cent; those between Osaka and Formosa, by 30 per
cent; those between Osaka and Ujina or Kure, by 80 per cent;
and those between Osaka and Kyushu or Shikoku, by 50 per
cent. The freight rates on goods sent to Osaka from various
parts of Japan also rose by 30 per cent. The situation somewhat improved in April, but the freight rates then prevailing
were 30 per cent less than the highest ever attained, as by
that time the deficiency was made good to some extent. Yet
the rates were much higher than the peace-time schedule.
Comparing the rates in May, 1904, with those in the same
month of the previous year, those of the Hokkaido lines were
higher by 40 to 50 per cent; the Hokuriku lines, by 40 per cent,
and the Formosa lines, by 20 per cent. Though the rates on
the various lines gradually lowered as more and more ships
were added to our merchant marine in the first half of I905,
they were still higher than the ante bellum rates, generally by
20 per cent, and 50 per cent in extreme cases.
Effects on foreign routes
The Nippon Yusen Kaisha, the Osaka Shosen Kaisha, and
the Toyo Kisen Kaisha were the three main steamship companies that ran vessels on foreign lines during the war. Of