In 1902 he again visited England, and was entertained by the London Chamber of Commerce, his speech on that occasion containing the happiest allusions to the growth of commercial relations between Japan and Great Britain. He was able to point with satisfaction to the existence in his own country of no fewer than 2534 banks possessing an aggregate paid-up capital of £35,000,000 sterling. After the Chino-Japan war the number of joint-stock companies rose, as he explained, with phenomenal rapidity, for in 1900 the total number was not less than 6176, and their paid-up Capital amounted to 440,476,000 yen, or over £44,000,000 sterling. The volume of the export and import trade, as he was able to assure his audience, had risen from 50,000,000 yen in 1877 to 138,330,000 in 1890, and 506,160,000 in 1901. Though Japan has since been at war with Russia the volume of her trade for the year 1905 will in all probability show a very appreciable increase over any intervening year, and with the immense commercial activity which she has developed subsequent to the conclusion of peace the figures for the fiscal year ending with March 1907 must inevitably exhibit a degree of progress and an expansion of international trade in which her people may justifiably take the utmost pride. Speaking as a business man to men of business, Baron Shibusawa proceeded to refer in his speech to the then recently concluded Anglo-Japanese Agreement of 30th January 1902. His remarks may be said to apply with equal force to the extended form of that Agreement entered into on the 12th of August 1905.