Note 19 — PART I. JAPAN AND THE PACIFIC.

Sir H. Parkes, late Minister of England in Japan, said: “The statement of the national liabilities this year (1878), shows that Japan has kept faith with her foreign creditors, the interest on her foreign debt and the sum requisite for the payment of the amount of capital redeemed during the year having been duly provided. There is no reason to doubt that care will be taken to ensure punctual payment in future on this account until the entire extinction of this debt in 1895.” Japan has never failed to pay her foreign debts.