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Meiji Era Economic Copy 2

The document summarizes key economic developments in Japan during the Meiji Era from 1868 to the 1930s. It focuses on Japan's industrialization efforts including establishing a national currency and modernizing its economic system in the 1860s. Major developments included stripping power from wealthy landowners, promoting industry and commerce in the 1870s, establishing the first bank and joint stock company in 1873, adopting a gold standard in 1871, and experiencing monetary confusion and inflation in the late 1870s. The Bank of Japan was established as the central bank in 1882. Japan regained tariff rights in 1899 and entered World War I in 1914-1918, but experienced an economic crisis in 1920 and the Great Depression from 1929-1939.

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260 views1 page

Meiji Era Economic Copy 2

The document summarizes key economic developments in Japan during the Meiji Era from 1868 to the 1930s. It focuses on Japan's industrialization efforts including establishing a national currency and modernizing its economic system in the 1860s. Major developments included stripping power from wealthy landowners, promoting industry and commerce in the 1870s, establishing the first bank and joint stock company in 1873, adopting a gold standard in 1871, and experiencing monetary confusion and inflation in the late 1870s. The Bank of Japan was established as the central bank in 1882. Japan regained tariff rights in 1899 and entered World War I in 1914-1918, but experienced an economic crisis in 1920 and the Great Depression from 1929-1939.

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Pichayathida Siriwechdarak (Bee) & Yonlada Nawilaijaroen (Mai)

Meiji Era Economics


Main focus >>>
INDUSTRIALIZATION

Government &
companies are
closely related

ZAIBATSU =
large family
business

1868 - Meiji restoration:


establishment of "Yen"
Economics modernization

1860 - Treaty of Kanagawa:


open trade with the West
(free trade)

1860s

1869 - Strip Daimyos power:


fixed percentage land tax
1870 - Shokusan
Kogyo

1871 - establish of gold standard


system in Japan

1873 - Dai-ichi Kangyo:


first bank & joint stock
company

1870s
1875-1879 - Issue of the
Japanese notes:
Started using printed money

Late 1870s - Monetary


confusion and inflation
1880s

1882 - Central bank:


Bank of Japan is established.
1890s
1910 - Korea became
colony of Japan.

Early 1880s - Matsukata


deflation

1899 - Regained tariff rights:


Tariffs were collected.

1910s
1914-1918 - Japan joined WWI.
1920s

1930s

1920 - Japan entered economic crisis.

1929-1939 The Great Depression

Daimyo
rich people, mostly
are the lords

Tariff
tax that use to
restrict trade

Joint stock company


a company that people get
profit based on amount of
share they hold

Shokusan Kogyo
policy to promote
national wealth and
power

Inflation
increase in general
price level

Deflation
decrease in general
price level

Gold Standard
The unit of money based
on the amount of gold

Great depression
Global economic
downfall

Central bank
A state bank that
government could regulate
industrial growth.

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