Footnote 41: _Ibid._, p. 81. Footnote 42: In July, 1903, of the 26,645 Japanese in Korea, 15,442 were men and 11,263 women. It may be noted, in passing, that, in the case of Manchuria, a great majority of the Japanese women residing there are not the wives of the male settlers, and hence the comparative numbers of men and women there should not lead us to a similar conclusion as to Korea. This part of the problem of Japanese emigration opens up an interesting social question, which it is hardly necessary for us to discuss here. Footnote 43: From the legal standpoint, the Japanese had no right, outside of the treaty settlements, to live or buy land. Footnote 44: On March 31, 1904, there were about 1,234,000 _yen_ of these notes in circulation against a reserve of 944,000 _yen_. From the British _C. and D. Reports_; _Trade of Korea for the Year 1903_, pp. 7–8. The Russians and their sympathizers at Seul have more than once tried, though unsuccessfully, to induce the Korean Government to suppress the issue of the notes. See pp. 281–284, below. Footnote 45: The nickel coins of Korea have been so debased and so much counterfeited that they are at a discount of much more than 100 per cent. Footnote 46: The right of building this line was originally granted by the Korean Government to Mr. Morse, an American citizen, in March, 1896, who, however, sold it to a Japanese syndicate in November, 1898, and handed the line over to the latter before it was completed. The whole line was in working order in July, 1899. See p. 286 (Article 3), below. Footnote 47: Actual work was begun in August, 1901, but Japan’s want of capital was such that by the first of December, 1903, only thirty-one miles from both ends had been built. In view of the immense economic and strategic importance of the line, the Japanese Government, which had for a certain period of time guaranteed 6 per cent. annual interest on 25,000,000 _yen_, which was fixed as the minimum capital of the company, now further promoted its work by liberal measures, so as to make it possible for the company to complete the line before the end of the present year. Both the Korean and Japanese Imperial Houses own shares of the company. Footnote 48: