The Meiji Restoration: How Japan Modernized Overnight — Fexingo History
When the Meiji Restoration began in 1868, Japan had no modern banking system—just feudal moneylenders and a chaotic mix of clan-issued paper. How did a fledgling government with no credit history fund its breakneck industrialisation? Lucas and Luna explore the creation of the National Bank Act of 1872, modelled on the American system, and the fierce debates between Ōkubo Toshimichi and Itō Hirobumi over private versus state control. They meet Shibusawa Eiichi, the visionary who founded Japan's first modern bank (Dai-Ichi Kokuritsu Ginkō) and later launched hundreds of companies. They trace the 1882 founding of the Bank of Japan by Matsukata Masayoshi, who crushed inflation with deflationary policies that sparked the Matsukata Depression. The episode also covers the role of the Mitsui and Mitsubishi zaibatsu as quasi-central banks, the 1884 panic, and how Japan's banking revolution financed the railway boom, the Yawata steelworks, and the Sino-Japanese War. A story of paper money, gold convertibility, and the high-wire act of modernising without foreign debt. #MeijiRestoration #BankOfJapan #ShibusawaEiichi #MatsukataMasayoshi #NationalBankAct #DaiIchiKokuritsuGinko #FukokuKyohei #BunmeiKaika #Mitsui #Mitsubishi #Zaibatsu #YawataSteel #SinoJapaneseWar #MatsukataDepression #MeijiFinance #JapaneseHistory #History #FexingoHistory Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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