The Meiji Restoration: How Japan Modernized Overnight — Fexingo History
In the early Meiji years, Japan had no unified currency — just a chaotic mess of clan notes, gold ryō, and Chinese coins. This episode follows the creation of a national banking system, from the 1871 New Currency Act that established the yen to the founding of the Bank of Japan in 1882. We meet Finance Minister Ōkuma Shigenobu, who pushed for modern banks modeled on the US National Banking System, and Matsukata Masayoshi, the fiscal conservative who crushed inflation by selling government bonds and raising taxes. The story takes us from the Osaka Mint — where imported British machinery stamped Japan's first silver yen — to the Matsukata Deflation that savaged farmers but stabilized the economy. We also explore how national banks issued their own notes, why the public distrusted paper money, and how the Bank of Japan finally centralized control. This is the financial bedrock that funded Japan's industrial revolution. #MeijiRestoration #BankOfJapan #ŌkumaShigenobu #MatsukataMasayoshi #OsakaMint #Yen #NewCurrencyAct #MatsukataDeflation #NationalBanks #FukokuKyōhei #BunmeiKaika #JapaneseHistory #EastAsianHistory #EconomicHistory #SilverYen #Inflation #FexingoHistory #History Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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