arrying of burdens. Japan seems to me to be in somewhat the same
position in regard to finance as France was after the close of the war
with Germany when the former nation found itself saddled with a
tremendous debt incurred for war expenditure and the indemnity which
had to be paid to the conquering nation. The fact, however, as we all
know, instead of depressing the French people seems to have put the
whole country on its mettle, with the result that the heavy interest
of the enormous debt was easily met and effective steps taken to
reduce the principal. The borrowings of Japan in Europe in the future
are likely to be small, because she will be able to obtain what she
needs at home, and provided she is not drawn into any war she will
find her expanding revenue sufficient not only for the current
expenses of administration as well as for the interest on her debt,
but over and above all this enabling her year by year to provide a
sinking fund which will in due course materially reduce even if it
does not entirely extinguish the national indebtedness. In my opinion
Japan can look forward to its financial future with equanimity. In
regard to its financial past it has the satisfaction of thinking that
heavy in one sense though its financial obligations be they have not
at any rate been squandered for unworthy purposes.

CHAPTER IX

EDUCATION

In England a vast amount was last year heard respecting education.
Speakers on platforms and writers in newspapers and other periodical
literature day by day and week by week for many months kept pouring
forth words, words, words on this matter. It is not my intention to
refer at all beyond what I have said to the somewhat lively education
controversy in England which even as I write is by no means ended. Any
such reference would be out of place in a book of this kind, and even
were it not I confess I have no inclination whatever to rush into this
particular fray. But it seems to me a curious fact that other
countries, Japan amongst the number, have long since settled, and
apparently settled satisfactorily, a problem which here in England is
still under discussion, acrid discussion, and is yet quite evidently
far from being permanently solved. The provisions and arrangements a
nation has made for the education of its youth are, to my mind, an
excellent test of the precise standard to which its civilisation has
attained; because the future of a nation is with its youth, and