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Money system of the Meiji era

Currency system of the Meiji era

After Restoration of the Imperial rule, the newly-issued currency regulations are established in 1871, and Japanese yen, money, the currency system using three kinds of unit start. And money, silver, money using copper in imitation of Europe and America are published. The gold standard to assume 1.5 g of gold 1 yen was adopted by these regulations and was decided to do it with 1 yen = 100 sen = 1000rin. However, it was fukansaibou substantially because there was little quantity of the gold and silver which the government prepared. In 1872 of the next year, the government established the national bank regulations. This national bank was established in the various parts of Japan and published money independently. The beginning was published as a convertible note, but, by regulations revision, became virtual fukankahei. In addition, because I covered short money with a reprint of the paper money at the time of the Southwestern Rebellion, a market was confused, and the price of rice jumped up than double.

In 1881 Masayoshi Matsukata takes office as the Minister of Finance. I think that excessive publication of fukankahei led to the fall of the value of money, and he carries out rearranging of fukankahei. In addition, I establish conversion system in 1882 and establish the Bank of Japan to establish a modern currency system. A Bank of Japan note meant the money that the Bank of Japan published, but first it was the 10 yen bill that the painting of the god of wealth was written down. This was published two years after the opening of business of the Bank of Japan. In addition, Minister of Finance pine person aimed at the establishment of the gold standard after the fashion of Europe and America, but introduces the silver standard because the Japanese monetary specie which accumulated was silver. As for the Bank of Japan note, as for the national bank bill and the bill issued by the government, currency is stopped very smoothly in 1899 by the market because I circulated

The European and American developed country switches over from the silver standard to the gold standard one after another in the 19th century. Therefore I introduce the Coinage Act that Japan assumes gold 0.75 g = 1 yen in 1897 and establish the gold standard based on an indemnification of the Sino-Japanese War. It was the gold standard introduced into each advanced country, but the history did not continue for a long time in this way. When the U.K. is driven into the abolition of the gold standard in 1931 by the world financial crisis to assume New York stock prices free fall of 1929 an opportunity, Japan abolishes the gold standard in the same year. A current managed currency system is introduced in this way.

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