— 15 — 



principal articles of export, such as copper, silk, camphor, etc., have 

 greatly diminished the profits of the export trade. In addition to 

 this, the exports to China — which country forms the principal outlet 

 for Japanese industry — continue to be halting and even threaten 

 to degenerate into an entire boycott of Japanese products. All these 

 facts contribute to make the condition of trade look by no means 

 rosy; but on the other hand, less pessimistic reports are not wanting, 

 and these indicate a gradual, albeit slow, improvement of the economic 

 conditions. It is, for example, regarded as a favourable factor that 

 the rice crop of 1908 has been an extremely good one, as a result 

 of which the import of rice (the staple food of the Japanese) from 

 Burmah and Tonquin has considerably decreased. In forming an 

 opinion of the import figures, which we quote below, this not unim- 

 portant item must be allowed for. Our own experience of the last 

 few months makes it impossible for us to deny that there has been 

 a perceptible improvement in business, which we trust will continue. 

 In one of the recent issues of the Ostasiatischer Lloyd, we find a few 

 interesting figures relating to the Foreign trade of Japan. According 

 to this, the total value of Japanese trade with foreign countries was 

 as follows: — 



Year Exports Imports Total of foreign trade 



1903 3ii2i2000yen 332iigoooyen 64335ioooyen 



1904 341112000 ;, 384586000 „ 825678000 „ 



1905 344368000 „ 500001000 „ 844369000 „ 



1906 423754000 „ 418784000 „ 842588000 „ 



1907 430516000 „ 494192000 „ 924708000 „ 

 *9°8 373 79 6oo ° » 435687000 „ 812483000 „ 



In the course of the past year both exports and imports have 

 declined considerably, but whereas the exports have almost gone back 

 to the figure of the year 1905, the imports (not counting the year 

 1905, when Japan was at war with Russia) were the highest, with 

 the exception of the year 1907. 



As an appendix we bring an interesting paper "On the examination 

 of the Essential oil of Blumea balsamifera D. C", by Mr. Richard Jonas, 

 of Brussels. This examination has been partly carried out in our La- 

 boratory. 



We also call especial attention to the "Solubility Table of the most 

 frequently used Odoriferous Substances", which, at the instance of some 

 of our clients, we have caused to be prepared (page 142). 



