"Having deposits of coal and iron, why may not Japan be developed into the Eastern equivalent of England?" ask stay-at-home admirers of the Japanese, who believe that to them nothing is impossible. The Mikado's territory has coal, iron and copper, it is true; but in no instance is the mineral present to an extent making it a national asset of importance. Bituminous coal of good quality is mined at several points which is used by Japanese commercial and naval vessels; but elsewhere in the East it has to compete with Chinese and Indian coals. It is said in Nagasaki that her coal will last another two centuries, but were it mined on the scale of American and British coal it would be exhausted in a generation. The greatest efforts have been made to produce iron ore in paying quantities. In several instances public assistance has been lent to the industry, but seldom has a ton of ore been raised that has not cost twice its market value. Japan is determined to become a producer of iron, and to this end a long lease had been secured on an important mineral tract in China, whose ore blends advantageously with Mexican and Californian hematite, while it is asserted that the government has secured in Manchuria a seam of coal fifty feet in thickness, covered by a few feet of soil, that is contiguous to transportation, and which cannot be exhausted in hundreds of years. A valuable acquisition in conquered Saghalien--not noted by the newspapers--is beds of coal and iron of vast area. These may enable Japan, in her determination to become a manufacturing nation, to be eventually independent of other countries for basic supplies. But success in this direction is problematical, to say the least. For two thousand years Japan has mined copper in a limited way, but the production of the metal is carried on at present without much profit. When the Chinese government requires a vast quantity of copper the order is sent to the United States. Japan cannot be considered as a producer of minerals of sufficient importance to aspire to a profitable career through them, for the yearly aggregate value of all minerals, including gold from the Formosa mines, is not more than $20,000,000. The inevitable query in the reader's mind is, How is the Jap, knowing it is now or never with him--and cognizant that he is poor in all save ambition and enterprise--going to create for his beloved Nippon a position of prominence and security in the fast-rushing, selfish world? Every intelligent Japanese is aware of the slenderness of his country's resources, and yet every son of the Chrysanthemum Realm throbs with desire to see Japan a first-class and self-supporting power, honored and respected throughout the universe. The Japanese possess some quality of golden value, otherwise cautious capitalists in America and Europe would never have lent them $360,000,000. What is it?