ABSTRACT
THREE successive wars brought Japanese industry into existence; two successive national emergencies sharply accelerated its development. For five decades, in an almost mathematical rhythm of ten-year periods, one extraordinary stimulus to industry followed another:
The Chinese War of 1894-5, which made the first industrial demands on the country, began this development. After centuries of trance in economic feudalism Japan had just laid the foundations of a modern industrial life. The victorious war gave her new territory, war indemnities, a new spirit of enterprise, prestige and foreign credits.
