Looks like a printed poem for soldiers circa 1937.
It says -
「皇師百萬征強虜
野戰攻城屍作山
愧我何顔看父老
凱歌今日幾人還
希典」
"The imperial army of 1,000,000 went to Manchuria to defeat the powerful enemy of Russia. As expected, the enemy was well prepared and the corpses of our soldiers in the battles had piled up to form hills.
Fortunately, I could return home victorious but, having left so many casualties behind, how could I meet their parents who would have waited for their sons coming home alive? How many out of the million can return to their hometowns singing in triumph now?
By Maresuke"