Handicapped as she is in agriculture, and holding on the other hand a vast and ever-increasing population, the best, in fact the only, policy for Japan to follow has been to utilize her vast man-power for the development of industry. Firmly convinced that the future of Japan depends solely on her ability to stand in the world as an industrial nation, the far-sighted statesmen of Japan long ago formulated plans for a steady industrial expansion. These plans were furthered by Government subsidy and have been faithfully carried out step by step by the authorities. The creation of a vast merchant marine; the building of railroads throughout the country, closely knitting all parts of the empire together; the enactment of a carefully drafted protective tariff; the national and municipal monopolization of public utilities and important industries; the establishment of a stable financial system with facilities for financing healthy enterprises; the establishment of technical schools throughout the empire for the training of experts and skilled workmen, and thousands of other remarkable undertakings were accomplished within a very short time by the direct and indirect efforts of the State. The people, too, were not behind in their devotion to the cause of making Japan an industrial power. They toiled most willingly under all kinds of disadvantages and hardships; they shouldered extortionate taxes with smiling faces; they worked in unison, disregarding for the time being petty private interests; they calmly and bravely met all privations and adversities. There is little wonder indeed that Japan established herself within only a few decades as an industrial nation of the first rank.