Vol. 77, No. 4

Masaru IWAHASHI
Dynamism of the monetary economy in Tokugawa Japan: Kumamoto han as an example

In recent years many researchers have developed a new approach to the ‘economic history of money’. This new approach to understanding pre-modern Japanese economic development is based on observation of changes in money circulation.

This paper focuses on the Kumamoto han (feudal domain), which was part of an economic zone based on silver circulation. However, merchants and farmers used copper for daily transactions. The han government fixed the exchange rate between copper coins and silver, which was used in the domain’s finances and for trade outside the domain. As a result, this inhibited circulation of silver-denominated paper notes issued by the han.

In response to a nationwide shortage of copper coins, a note called the zeni azukari (copper note denominated in silver) began to be used spontaneously in this area from the mid-18th century. The han government also started to supply similar notes at the end of 18th century. The government carefully regulated the supply of the note; although the notes were issued on a zeni (copper) basis, they were circulated as though they were han (silver) notes. Because of the han’s careful management, the notes maintained their value, and continued to circulate until the early Meiji period.

Tomohiko TAKAYANAGI
Resource use conflicts during industrialization: a case study of prewar Joban Yumoto spa

What was the impact on resource use in local communities from mineral resources development during industrialization? This paper explores the characteristics and limitations of resource use in modern Japan through a case study of the clashes between coal companies and residents in the Joban Yumoto spa and mediation efforts by government agencies. The prefectural governors mediated negotiations between residents and the coal companies, which led to the companies paying condolence money. From the time of the First World War mining damage intensified and the administrative agencies changed their tactics. Prefectures intervened in negotiations between the two parties, and the mining inspection office and administrative court preemptively imposed regulations on mining developments that they thought would provoke opposition from community residents. As a result, they were able to avoid clashes. However, this led to a new compensation system for mining damages, in which mining development was allowed, and companies paid monetary compensation after-the-fact. In Japan, without effective preemptive regulations on mining developments, community residents were thus forced to make large sacrifices in exchange for compensation after-the-fact.

Hiroaki MOROTA
Bank management and currency institutions in northern China from the 1910’s to the middle of the 1930’s

This paper reconsiders the successful nation-wide implementation of the 1935 fabi (legal tender) currency reform, focusing on the issuing of banknotes by private banks in Tianjin.

During the Beijing Government era, the integration of banknotes failed because of two runs on banks that were expected to function as central banks, the Bank of China and the Bank of Communication. As a result, many private banks started to issue their own banknotes.

The four biggest banks in north China, known as the Northern Four, established a four banks joint treasury and issued Zhongnan banknotes, in accordance with reserve rules that they had agreed on and that were far more sound than law. Afterward, Zhongnan banknotes became the dominant private banknotes in Tianjin.

From 1927 November, the joint treasury voluntarily began to take in security reserves, which boosted the volume of banknotes in Shanghai. As a result, Shanghai came to play a crucial role in leading the fabi reform.

This analysis of the joint treasury shows that in addition to such external elements as political integration, financial policy and the impact of the U.S. silver purchase act, domestic developments also played a crucial role in the success of the nation-wide fabi reform.

Masahiro OGIYAMA
Agricultural growth and labour supply in industrializing Japan: evidence from the weaving industry in the Sennan district, Osaka prefecture, 1894–1913

It is often argued that the abundant labour in the agricultural sector checked wage increases in all sectors in prewar Japan. However, this claim ignores the fact that Japan achieved agricultural growth along with industrialization. This paper examines the impact of agricultural development on the supply of labour from the agricultural to the industrial sector in the Sennan district of Osaka Prefecture. In Sennan, cotton weaving developed as a cottage industry until the middle of the first decade of the twentieth century, with peasants producing cloth to supplement agricultural income. However, the establishment of small and medium-sized weaving factories, which recruited female workers from peasant households in the neighbouring areas, replaced domestic weaving with a factory system. This deprived peasant households of income from domestic weaving. At the same time, however, the region experienced rapid agricultural growth. This growth enabled peasants to obtain sufficient income to make up for the loss, and they were unwilling to send workers to weaving factories. Thus, the managers of the weaving factories had to offer higher wages to workers.

Keiichi ASANO
Small business policy of the Social Democratic Party of Japan during the early occupation period, focusing on the general election of 1947

Past research concerning small business policy in postwar Japan has focused primarily on the government and conservative parties, with little attention paid to the Social Democratic Party of Japan (SDPJ) and reformist (socialist) parties.

In contrast, this paper concentrates on the early occupation period during which small business policy embraced a mixture of two ideals: industrial structure policy and economic democratization policy (decartelization and deconcentration policy). It examines the role of the SDPJ at the time when small business policy was formulated following the war, and aims to clearly demonstrate that:

1. It was not only the conservative party, but also the SDPJ that made realistic efforts in relation to small business policy and;

2. That small business policy of the SDPJ focused on both industrial structure policy and economic democratization policy.

The paper also suggests that in order to understand how small business policy was formulated during the early occupation period, it is necessary to examine closely not only the roles of the Ministry of Commerce and Industry, the Japan Liberal Party and GHQ, but also the role of the SDPJ.

Ryohei OSHIO
The formation of the Viennese ‘theatre-market’ in the late 18th century: an analysis of the supply-demand relationship between performance and audience based on the court theatre's account books

During the early modern period, most European court cities saw the shift from patronage-oriented court theatre that targeted the nobility to market-oriented public theatre for a broad public equally admitted to attend performances. In Vienna, this development started in the late 18th century when many private commercial theatres opened in the suburbs.

The purpose of this article is to clarify the transition of the economic structure of Viennese theatre by relating it to the socio-economic and –cultural background. By examining the account books of the court theatre, the author has analysed the supply-demand relationship between the national court theatre (Nationaltheater) and its audiences during the reign of Joseph II.

Beginning with Maria Theresa’s reign, theatre began to change in Vienna. The actual shift, however, only occurred because of the theatre reform initiated by Joseph II that resulted in a more efficient management of the court theatre. The reform consequently improved quality and profitability of its performance and permitted activities of many private theatres. The ‘theatre market’ in Vienna emerged at the end of the 18th century as a result of this expansion of theatrical transactions and steadily increasing demand from almost all social classes.