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

126 ECONOMIC EFFECTS OF THE RUSSO-JAPANESE WAR

PUBLIC DEBT EXPENDITURES, 1900-1910 a
Fiscal year debt naInterest on and other Interest on Total
Fisc al yIte on Commissions Interest on tal
Fredeemed national debt expenses for deposits
national debt
Yen Yen Yen Yen Yen
1900-1..... 0,677,044 23,685,351 136,30I 2,381,896 36,880,593
I90I-2..... I0,813,828 26,432,854 128,165 2,331,899 39,706,746
1902-3.... 27,770,420 28,846,522 131,I53 2,750,086 59,498,I80
1903-4..... 7,979,556 29,603,350 349,669 3,458,603 41,39I,I77
1904-5. 516,289 4I,062,060 2,584,027 3,140,212 47,302,587
I905-6..... 6,198,585 99,266,506 7,137,026 2,685,029 115,287,147
1906-7..... 21,730,720 I5,839,42I 4,496,470 3,357,157 145,423,768
1907-8... 32,071,646 I43,216,674 2;7I7,666 4,324,365 182,330,351
1908-9..... 57,397,788 136,5I0,718 1,536,171 6,I91,776 201,636,453
I909-I0.. 52,837,491 126,581,080 1,516,320 7,574,919 188,509,809
a This table represents the total amount of expenditures for public debt, consisting of ordinary
expenditures belonging to the general and special accounts and of extraordinary expenditures belonging to the general accounts. It includes, as a matter of course, the expenses for public debt on
account of the Boxer trouble, and extraordinary affairs expenditures. The national debt redeemed
comprises the amount redeemed of national bonds, temporary borrowings, and all other national
debt, while the interest on national debt includes the interest on the floating debt, such as Treasury
bills and temporary borrowings, as well as interest on funded debt. However, the expenditures for
the redemption of national debt by means of conversion are excluded. The interest on deposits
denotes the interest on postal savings.
the expenses for redemption, bringing the amount up to 57,ooo,ooo yen. The interest on the national debt, which reached
the maximum of 28,000,000 yen before the war, advanced
rapidly during the war, recording I43,000,000 yen after the
war, while the commissions and other expenses for national
debt reached the maximum of 7,000,000 yen with the increased
flotation of public loans. Thus, the expenses for national
debt, which ranged from 36,000,000 yen to 59,000,000 yen
before the war, steadily increased during the war, amounting
finally to some 200,000,000 yen. (See table on next page.)
Before the war, the expenditures for taxation were approximately 4,000,000 yen, those for monopolies about 9,ooo,ooo yen, and those for the mint less than I,ooo,ooo yen, while
these amounts began to increase during the war, swelling the
expenses for taxation to some 7,000,000 yen after the war,
those for monopolies to about 4,000,000 yen, and those for the
mint to the maximum of I2,000,000 yen. The advance in the
expenditures for other financial affairs came primarily through
the refunding of the taxes and other revenues, the filling of