In the cotton-spinning industry he is prominent, having founded the Osaka and Miye Spinning Mills, and he has either promoted or started numerous undertakings for the supply of gas or electric light, for silk or cotton weaving, hemp and rope manufacturing, brickworks, cement factories, sugar refining, and many other enterprises for the utilisation of the knowledge which modern science has conferred on his fellow-countrymen. He is deeply concerned with railway extension, not only in Japan but in Korea, he is interested in harbour construction, and reclamation works, in farming, the breeding of horses and cattle, the manufacture of artificial manures, hat-making, and a variety of other ventures that need not be particularised. Altogether, including several banks other than the Bank of Japan of which he is president—_e.g._ the Yokohama Specie Bank, the Industrial Bank, and the Japan Credit Mobilier—the Baron is connected with upwards of thirty companies in the capacity of either president or director. He founded the Tokio Clearing-House, the Commercial Agency, and other business institutions, and in Korea he has from the outset taken a leading part, the construction of the railway from Fusan to the Capital, and between Seoul and Chemulpo, having been due principally to his efforts. When the railway development of Southern Manchuria is seriously undertaken this line from Fusan to Seoul, and thence to Wiju, is destined to form a link in the long chain of railway communication which will stretch from London to Tokio, with short breaks at the Straits of Dover and the Straits of Korea which divide Fusan from Shimonoseki in South-west Japan. There are incomplete links, notably between the Yalu river and Liao-Yang, but a military line exists, which needs only to be strengthened, so the permanent establishment of that section should present correspondingly fewer difficulties. Ultimately it is to be expected that England will be brought within a fortnight by rail of Japan. Baron Shibusawa was nominated by the Emperor as a member of the newly formed House of Peers in 1890, when the Imperial Diet was first opened, but he resigned that post a year later, and afterwards occupied the chair of the Higher Council of Agriculture, Commerce, and Industry, and he has served on many commissions appointed by the Sovereign to make investigations on various subjects of importance to the nation. In the domain of philanthropy Baron Shibusawa’s exertions have tended materially to the establishment and support of schools, orphanages, reformatories, hospitals, and kindred benevolent institutions designed to confer public benefit, on the directorates of which his name is frequently to be found, for he has ever been an active worker in the cause of charity.