Rensselaer Journal, Volume 11, Number 35, Rensselaer, Jasper County, 6 February 1902 — JAPAN’S MILLIONAIRES. [ARTICLE]

JAPAN’S MILLIONAIRES.

Tcf r.icli Si er tn United 6ta<te» to One In Japan. The Jlji Shlmpo has made a curious census of the rich men of Japan. Tlie object of its investigations was to ascertain how many persons there are in the empire possessed of > fortune of 500,000 yen, which is equal to $250,000, says Japan and American. The total number of these quarter-million-aires is 441. One-third of the number reside in Tokio, and the great majority are found, of course, in the capital and file progressive cities of Osaka, Koto, Kobe and Yokohama. The result shows that there are ten rich men in the United States to one rich man in Japan, even when $1,000,000 is accepted as a standard in the United States and $250,000 in the Japanese empire. The proportion, however, is not so much against Japan as may at first appear. The rich men of the latter country, even the bankers and financiers, have their, largest holdings in land. They have not yet specialized the business of money making as it has been in this country and therefore the basis of fortunes is more stable. Again, it is estimated that a dollar in Japan is equal in the amount it will purchase of comfort and luxury, to four or five dollars in the United States. With this consideration in view it will be seen that the apparently small fortunes of the Japanese wealthier classes are really much larger than they seem. The period of business and industrial development has just begun and fortunes are being made more rapidly now than they were ten or even five years ago. This is shown by the tremendous growth of the Japanese

shipbuilding industry and tn the accumulated fortunes at many financiers cf Tokio and Yokohama. It is conceivable that another decade may see Tokio the great financial metropolis of the East, as London is of Europe and New York is of the American eontinent. Japan’s day has just dawned, and it is idle to contrast the beginnings of her accumulations of wealth with the results, of acquisitions in this country and in Europe.—New York Press.