nor purposes, we arrive at the broad fact
that the entire national debt of Japan did not exceed 305 million yen
at the close of the twenty-eighth year of her new era.

A war with China in 1894-1895--to be presently spoken of--and a war
with Russia in 1904-1905, together with the price paid for the
nationalization of railways and for various undertakings, brought the
whole debt of the nation to 2300 million yen in 1907, which is now
being paid off at the rate of fifty million yen annually. It remains
to be noted that, in 1897, Japan took the momentous step of adopting
gold monometallism. The indemnity which she obtained from China after
the war of 1894-1895 brought to her treasury a stock of gold
sufficient to form a substantial specie reserve. Moreover, gold had
appreciated so that its value in terms of silver had exactly doubled
during the first thirty years of the Meiji era. There was
consequently no arithmetical complication connected with the adoption
of the single gold standard. It was only necessary to double the
denomination, leaving the silver subsidiary coins unchanged.

EDUCATION

In the field of education the Meiji statesmen effected speedy
reforms. Comparatively little attention had been directed to this
subject by the rulers of medieval Japan, and the fact that the Meiji
leaders appreciated the necessity of studying the arts and sciences
of the new civilization simultaneously with the adoption of its
products, bears strong testimony to the insight of these remarkable
men. Very shortly after the abolition of feudalism, an extensive
system of public schools was organized and education was made
compulsory. There were schools, colleges, and universities, all
modelled on foreign lines with such alterations as the special
customs of the nation dictated. These institutions grew steadily in
public favour, and to-day over ninety per cent, of boys and girls who
have attained the school age receive education in the common
elementary schools, the average annual cost per child being about 8s.
6d. ($2.00), to which the parents contribute 1.75d. (3.5 cents) per
month. Youths receiving education enjoy certain exemption from
conscription, but as this is in strict accordance with the Western
system, it need not be dwelt upon here.

LOCAL ADMINISTRATION

For purposes of local administration the empire is divided into
prefectures (ken), counties (gun), towns (shi), and districts (cho or
son). The three metropolitan pref