The Meiji Restoration: How Japan Modernized Overnight — Fexingo History
In the early 1870s, Japan had no unified currency—just a tangle of feudal notes and coins. Then a young former samurai named Shibusawa Eiichi set out to build a modern banking system from scratch. This episode follows Shibusawa as he founded the First National Bank in 1873, modeled on American joint-stock banks, and pioneered the concept of "gappon shugi" or joint-capitalism. We explore how he convinced skeptical merchants to trust paper money, the crisis of 1877 that nearly wrecked his bank, and the role of Ōkubo Toshimichi and Matsukata Masayoshi in stabilizing the yen. Along the way, we see how banking became the invisible engine of Fukoku kyōhei—enriching the nation to strengthen the military—and how Shibusawa's vision of ethical capitalism shaped modern Japan. A story of risk, trust, and the paper that built an empire. #MeijiJapan #ShibusawaEiichi #FukokuKyōhei #BankingHistory #FirstNationalBank #Yen #JapaneseHistory #GapponShugi #MeijiEconomy #MatsukataMasayoshi #ŌkuboToshimichi #JointStock #EconomicHistory #MeijiRestoration #History #FexingoHistory #EastAsianHistory #Modernization Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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