1901.] COMMErtCIAL JAPAiJ. 2303 



BLILDING3. 



Yen. 



Number of chvclling.?, 7,884,263; valued at 200 yen cacli 1, 577, 0(/J, OCO 



Number of shrines, 190,803; valued at 1,000 yen each 191,000,000 



Number of temple.s, 71,831; valued at 1,000 yen each ' 72,000,000 



Buddhist eidota, 36,498; vahied at 500 yen each 18, 000, 000 



Schools, 1,594; valued at 10,000 yen each 16, 000, 000 



Departments of state, 10; valued at 300,000 yen each 30, OCO, 000 



City and prefectural offices, 50; valued at 30,000 yen each 2, 000, 000 



City and prefectural assembly buildings, 50; valued at 20,000 yen each 1, 000, 000 



Local (district) offices and police stations, 1,700; valued at 1 ,000 yen each 2, 000, 000 



Jails, 50; valued at 50,000 yen each 3,000,000 



Military divisional buildings, 7; valued at 500,000 yen each 4, 000, 000 



Military brigade buildings, 28; valued at 100,000 yen each 3, 000, 000 



Naval ports, 3; valued at 1,000,000 yen each 3,000,000 



Total 1,919,000,000 



It will be ob.served that whereas barracks are included in the above list, fortifications are excluded, and so are arsenals, private 

 dockyards, harbors, and factories. As to harbors, dockyards, and factories, Mr. Kusaka doubtless includes their value in the paid-op 

 capital of companies. Arsenals, however, might fairly be added to the list, though fortifications are properly omitted. 



FUKNITLUE AND WORKS OF ART. 



The figure under this heading is obtained by allowing an average of 100 yen per house. 



RAILWAYS, TELEGKAPnS, AXD AQUEDUCTS. 



The average net profit obtained from the State railways in the last four years was 4,000,000 yen, and if this be capitalized at twenty 

 years' purchase, we liave a value of 80,000,000 yen. Thus the figm-es stand: 



Yen. 



State railways 80, 000, 000 



Telegraphs, 12,212 ri (30,530 miles); valued at 450 yen per ri 6,000,000 



Submarine cables, 387 nautical miles; valued at 3,000 yen per mile 1, 000, 000 



Aqueducts, 100 ri (275 miles) 3,000,000 



Total : 90, 000, 000 



We can not regard this estimate as quite satisfactory. Considering that the mileage of the. State railways has been steadily aug- 

 mented year by year for several years past, the net profit during the last year of working would be a more correct figure for the purposes 

 of such an account than the average profit for four years. But the difference would be only 20,000,000 or 30,000,000 at any rate. Mr. 

 Kusaka omits the jirivate raihvays, doubtless because tlie cost of constructing them appears in the paid-up capital of comi)anies. The 

 propriety of the omission may be questioned. At the lowest estimate the market value of the private lines now in operation i-- 140,000,000 

 yen, and if we substract that sum from the paid-up capital (242,000,000) of the companies and banks, we ol)tain 102.lH)(.i.0iX) yen as the 

 value of all the factories, dockyards, and other movable and immovable property of industrial and commercial associations iu the Empire. 

 That is surely too low an estimate. 



snirpixG. 



Yen. 



Foreign model ships, 254, 692 tons, valued at 100 yen per ton 25, 000, 000 



Japanese model ships, 2, 960, 887 koku, valued at 5 yen per koku 15, 000, 000 



Fishing, pleasure, and rowing boats and lighters, 200,000 koku, valued at 5 yen per koku 1 , 000, 000 



Men-of-war, 112,760 tons, valued at 500 yen per ton 56, 000, 000 



Torpedo craft, 1,898 tons, valued at 590 yen per ton 1. 000, (XX) 



Total 9S, 000, 000 



This is certainly a very conservative estimate so far as the navy is concerned. The figures for men-of-war must be at least 

 100,000,000 yen too small. 



MINES. 



The yearly yield of the mines is 40,506,833 yen, one-half of which may be regarded as the cost of working. Hence capitalizing at 

 twenty years' purchase as before, the resulting value is 405,000,000 yen. 



JIARINE PRODUCTS. 



The yearly yield is about 27,227,047 yen, half of which being regarded as net profit and capitalized at twenty years' purchase, the 

 value is 272,000,000. ■ 



CAPITAL (paid up) OP COMPANIES AND HANKS. 



The total paid-up capital is 259,000,000 yen, from which has been deducted 17.000,i.XX\ being the value (already included under the 

 head of shipping) of the vessels (165,000 tons) belonging to the Nippon Yusen Kaislia and the Osaka Shbsen Kaisha. 



