I also pointed out
that in my judgment whereas the Japanese had enjoyed the sympathy of
most of the civilized powers at the outset of and during the continuance
of the war, they would forfeit it if they turned the war into one merely
for getting money--and, moreover, they would almost certainly fail to
get the money, and would simply find themselves at the end of a year,
even if things prospered with them, in possession of territory they
did not want, having spent enormous additional sums of money, and
lost enormous additional numbers of men, and yet without a penny of
remuneration. The treaty of peace was finally signed.
As is inevitable under such circumstances, each side felt that it ought
to have got better terms; and when the danger was well past each side
felt that it had been over-reached by the other, and that if the war had
gone on it would have gotten more than it actually did get. The Japanese
Government had been wise throughout, except in the matter of announcing
that it would insist on a money indemnity. Neither in national nor in
private affairs is it ordinarily advisable to make a bluff which cannot
be put through--personally, I never believe in doing it under any
circumstances.
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