Pearl Harbor: The Seeds and Fruits of Infamy - Ludwig von Mises ...

192 Pearl Harbor: The Seeds and Fruits of Infamy
Our infl uence in the Far Eastern Th eater lies in the threat of
our Naval power and the eff ort of our economic blockade. Both
are primary deterrents against Japanese all-out entry in the war
as an Axis partner. If we become involved in war with Japan we
could launch a serious off ensive against her by Naval and Air
Forces based on the Philippines and elsewhere in Malaysia.
Japan was torn between two opposing factions. Th e government
leaders were “aware of the perils of further military adventures;
they want to avoid a general war in the Pacifi c” and seek “a
peaceful settlement” with the United States. On the other hand,
“army hotheads” and “other intransigents” oppose any major concessions.
From the point of view of the government leaders, the
situation appeared bleak; the conversations between the Japanese
ambassadors and the U.S. government in Washington “can now
be said defi nitely to have ended in failure”
Miles said Japan faced a serious problem:
Because of the ever increasing stringency of the embargo
placed on Japan by the United States, Great Britain, and the
Netherlands East Indies, the economic situation in Japan is
slowly but surely becoming worse. Th e Japanese have always
lacked war materials, adequate foreign exchange, and suffi cient
foreign trade; the embargo has served to increase sharply the
defi ciencies in these categories. . . .
Th e fi rm united front of the United States, Great Britain, and
the Netherlands East Indies in enforcing the embargo has
put Japan “on the spot” economically. . . . If she goes to war to
achieve her economic objectives, Japan faces ruin; but at the
same time she feels that achievement of these objectives are
vital to her existence. . . .
[I]n short, economically Japan is in perilous plight. Th e situation
calls for strenuous measures; yet, if she goes to war, she
may use up her reserves, especially of oil and steel, before she
can force a decision favorable to herself. Th us her economic