Show MR griscom ON JAPAN lloyd C griscom the american minister to japan arrived in san francisco a few days ngo on leave of absence from tokio and his views on cipan in general arc naturally interesting and valuable mr griscom is a roan ot keen intelligence and with great powers of observation and it Is therefore satisfactory to know eliat he Is quite untouched with the yellow peril fallacy so farat least as japan is concerned in the ordinary course ot things he believes that japan may do a large and in some commodities an almost exclusive trade with chiau and corca but he entirely discredits the rumors of ambitions that have been rife among alarmiste alarmists alar mists whatever superiority she may show in commerce will be due sir griscom thinks to the cheapness of her labor and not to an artificially closed door sir griscom brings a refreshing breeze of common sense to bear upon the position that japan is likely to assume he points out how small she la and the almost inconceivable strain financial and otherwise through which she cassad duang the late war the strain was none the less real because the extraordinary skill of her financiers prevented any depreciation whatever in tho value of her paper money she bad to sink her hanff deeply into a not too well aled pocket but she performed a feat that was the marvel ot the financial corid mr points out what should hardly need pointing out that the only possible policy for japan to pursue Is one of retrenchment nations that come so close to bankruptcy do not at once begin to dream dreams of foreign aggression and conquest the philippines are just as sate from japanese aggression as though they weeo on the other side of the continent iu the atlantic instead ol 01 the pacific and has certainly everything to gain and nothing whatever to lose by preserving the labost friendly and cordial relations with america all these things ought to bo obvious enough but it is v ell to have them said tail vely by such men as mr griscom |