＜ Meiji Panic. (1) >
Japanese Empire.
Tokyo, Meiji Palace.
“Jim doesn’t like Western culture that much, but Ito, since you want to defend the exchange (currency swap) system, I believe in your face, the former minister of the palace, and accept it only once.”
Emperor Meiji.
Hirobumi Ito and Eiichi Shibusawa, who returned from The Hague as special envoys, were interviewing Tenno. Emperor Meiji was concerned about rejecting Western culture as a Confucianist, but it seems to have been the opposite.
Ito Hirobumi bowed his head deeply.
“Oh, is there anything Jim can do for you? Isn’t the constitutional monarchy system of the Japanese Empire being completed according to your wishes? As the protagonist of the Meiji Restoration, I can’t just sit there.”
“I would like you to enact a banking ordinance with one edict.”
“bylaw?”
“Yes, we are working through First Bank to subordinate the Korean won to the Japanese yen, but the national bank alone may not be enough. So, the Central Bank of Japan under the Ministry of Finance (Ministry of Finance) wants an ordinance that establishes guarantees for our First Bank.”
“It’s not difficult. But I know that you are from the Joshu Domain, and Matsugata of the Great General is from Satsuma, right? I’ll throw you some bait that won’t come out later.”
also come out like this
Ito Hirobumi sighed. The confrontation between the Joshu Domain and the Satsuma Domain had been between the supreme commanders before the Meiji Restoration. Emperor Meiji’s concerns were justified as it was a battle between the two historical powers that was about to escalate into a battle between the navy and the army.
“We will leave the approval of the conclusion and cancellation of the exchange (currency swap) to the Central Bank of Japan at the Ministry of Finance. With a collar like this, it is believed that even the Minister of Admiral Matsugata will recognize it.”
“Enough. The ordinance ordinance will be issued within a few days, so be aware of that.”
done.
Emperor Meiji’s decree was granted.
Ito Hirobumi suppressed his ecstasy and began to gradually build up a plan to rob the Jo Senjins in his head.
Eiichi Shibusawa looked at Hirobumi Ito like that and smiled inwardly.
– Tenno Heika Banzai!
A few days later, Emperor Meiji issued an ordinance edict through the Imperial Japanese Parliament.
– Enforcement Decree of the Exchange Banking Act.
All issues related to exchange (currency swap) are guaranteed by the Bank of Japan of the Ministry of Finance. However, each national bank and private bank may execute a foreign exchange exchange with the consent of the Bank of Japan and execute the exchange.
Matsugata of the Great Commissioner was dissatisfied, but somehow agreed, and the Bank of Japan began to be crowded with the heads of national and private banks.
D-15.
“It is an appropriate ordinance. It is going smoothly.”
widely-
The bamboo barrel hit the floor. The water that flowed out of the barrel joined the fairy’s waterway.
A fairy near the Great Wall of the Japanese Empire.
Samuel Sachs was receiving reports of every move of the currency swap through the Japanese directors of the Bank of Japan Settlements.
“The five largest banks in Japan, led by the Mitsui chaebol, are moving under the water.”
“That was what I expected. Wasn’t the First National Bank also established with the investment of the Mitsui and Furukawa conglomerates in the first place? Their intervention is indispensable.”
Japan’s 5th largest bank.
Mitsui Bank.
The first private bank to oversee the financial business of the Mitsui chaebol, the first chaebol family in the Japanese Empire in name and reality.
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Originally, private banks could not use the name “bank” under the current National Banking Law, but the Mitsui chaebol amended the law by force and established a private bank.
First National Bank.
In fact, it can be considered as a bank of the Mitsui chaebol. The Furukawa conglomerate also invested, but the Mitsui conglomerate’s investment is overwhelming.
The first and second place in the banking industry of the Empire of Japan were Mitsui affiliates.
Sumitomo Bank.
As the third largest bank in Japan, it is a private bank that oversees the financial industry of the Sumitomo Chaebol. Taking over the 61st National Bank and getting bigger.
Mitsubishi Bank.
It is the 4th largest private bank and is a corporation separated from Mitsubishi Line (Shipping). It is succeeding the 119th National Bank.
and Yasuda Bank.
It is a bank of the financial conglomerate Yasuda, who succeeded the Third National Bank.
These five banks were the real powers controlling the current Japanese Empire.
“First of all, Mitsui Bank has a monopoly over Mitsui Corporation, Mitsubishi Bank has a monopoly on the financial business of Mitsubishi Corporation and Mitsubishi Line, Sumitomo Bank has a monopoly on Sumitomo Corporation, and Yasuda Corporation has a monopoly on the financial business of Asano Corporation.”
Shipping is a trade.
The currency swap between the peso and the yen was the most needed industry, and in fact, a large amount of currency swaps were made through a Philippine company and the Japan Settlement Bank.
Japan Settlement Bank’s stake.
Detroit Investment Bank 25%.
Philippine companies 25%.
Goldman Sachs 25%.
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Other Wall Street Banks account for 25%.
However, the Philippine company is actually a company owned by the Detroit director, and has a stake in Goldman Sachs.
The Detroit director owns more than 60% of the Japan Settlement Bank.
“Yes, Japan’s leading trading companies are monopolized by the five major banking groups. So, the rest of the national banks are so desperate that they are signing currency swap contracts with other shipping businesses.”
“It’s interesting.”
In the Japanese financial world, currency swaps are no longer an option, but a necessity.
The peso is used in Southeast Asian and East Asian trade, but they don’t do currency swaps?
It was like a declaration that we would not work with companies that had shipping businesses.
In other words, the competition structure between private banks and national banks was more and more accelerating to the signing of currency swaps, and a terrifying amount of currency swap contracts were being signed.
Since the Bank of Japan provided a guarantee, the Bank of Japan had to vomit everything if the currency swap contract was canceled…
Not necessarily.
Samuel Sachs smirked.
‘Things are going to be fun.’
Competition between private and national banks.
Confrontation between the Central Bank of Japan and commercial banks.
Because these two were pushing firewood into a fire called currency swap.
The bomb was growing faster than expected.
Here, commercial banks are a general term for private banks and national banks.
‘This should be reported to the superior. I can only imagine how much the Detroit director would love this aspect.’
Samuel Sachs trimmed the look of the black kimono.
“Everyone, was there a serious confrontation between commercial banks and central banks?”
“Uh-huh, don’t talk. When the Minister of Finance (Ministry of Finance) Matsugata set up a central bank called the Bank of Japan, the Mitsui chaebol tried to kill him.”
“…to that extent?”
“Yes, commercial banks at that time deposited public funds of the Meiji government and continued their banking business based on that. But since the Bank of Japan in the Great Wall is taking it all, will the bank be able to maintain it?”
“Then how have commercial banks managed to survive?”
“We introduced an American system. The financial world started to foster the industry.”
Ah, so that’s it.
Just as JP Morgan Bank holds the American industry as a trust, commercial banks in Japan have also begun to form chaebols.
The structure of the Zaibatsu (chaebol) is beginning to be understood.
‘Well. If you can eat the Japanese central bank, doesn’t it mean that you can eat up the entire chaebol owned by the bank?’
Samuel Sachs drooled.
There was a reason why the Detroit director wanted to attack Japan.
In a nutshell, if only the Japanese financial world can shake it, it means that it will roll into the industry as well.
Samuel Sachs called the board of directors of the Bank of Japan Settlements.
“I will give you a new mission. Learn more about the Japanese Empire’s gold reserves and the share structure of zaibatsu (chaebols). I will give you exactly 48 hours from now.”
“…!!!”
Click-
Samuel Sachs opened the pocket watch and put it on the table. By now, the Detroit director would have come to a conclusion.
Maybe there’s only one thing left to do is sweep it up and blow it up.
If the embargo is lifted in the US soon, there will be a shock to the peso. Before that, you need to prepare thoroughly in advance.
“I don’t have time, so please come to know me as soon as possible. dissolution!”
“Yes!!!”
D-10.
***
“Is the supply of coal in the Hashima (Battleship Island) coal mine easy? We have to fill in all the quantities requested by Mitsubishi Line and Mitsubishi Corporation.”
The 3rd head of Mitsubishi.
Hisaya Iwasaki was having an executive meeting with the Mitsubishi president. The executives who participated in the board meeting listened intently to the head of the party.
Dictatorship Mitsubishi.
Unlike the other three major chaebols, Mitsui and Sumitomo, they maintained a dictatorship with one head of the family.
“Yes, the coal supply is running smoothly. Recently, workers from Tsushima and Chosun have continued to be drawn in, so it is believed that there will be no disruption to production.”
“I will always take care of you. This is a great opportunity to expand Mitsubishi Corporation now that Japanese trading companies are actively trading due to the currency swap.”
never.
Never stop.
“Don’t let the voices say that the ship cannot be operated due to a lack of coal. Push all the manpower that can be replaced into the Hashima Coal Mine!”
“Yes, since it is a very profitable coal mine, there is nothing to worry about. In addition, supply and demand continue to be made in coal mines such as the Takashima coal mine.”
“How is Mitsubishi Bank?”
The current Mitsubishi chaebol is ranked third in the business world.
It was a complex because it was a newly established family, not a prestigious family like Mitsui or Sumitomo.
expansion. need to expand further
Bigger enough that Sumitomo and Mitsui couldn’t keep up.
“It means that we have to move faster to overtake the Mitsui and Sumitomo chaebols.”
“The currency swap contracts and trade volume already signed by Mitsubishi Bank have risen to the top spot in the entire shipping industry. The Bank of Japan also offers preferential treatment to Mitsubishi Bank, such as reducing fees and allowing more currency swap contracts to be signed.”
“Filipino companies currently monopolize more than 50% of Southeast Asia’s exports to Japan. Familiarity with the Japan Settlement Bank, which is in solidarity with them, is essential.”
“I…..”
Then an executive from the board of directors raised his hand timidly. He was an executive of the former 119th National Bank and one of the executives of Mitsubishi Bank.
Head Hisaya’s eyebrows twitched.
“Something?”
“It may be a serious risk to enter into any more currency swap contracts.”
“It is a problem from the unlimited currency swap contract already signed between the Japan Settlement Bank and Mitsubishi Bank.”
“However, if currency swaps are made even with companies, when the exchange rate of the peso is broken, the entire Mitsubishi conglomerate may be shaken.”
Whoo-
At the advice of an executive, the head of Hisaya sighed. As if I was wasting my time, as if I heard a pathetic sound.
“Where is risk-free scaling? The sound of withdrawing from the match of Ichikabachika (More or not) is an idea that only foolish people who are obsessed with defeatism are thinking. When it comes to winning, don’t look back, just go straight!!!”
bang-!
The face of the head of the Hisaya family was red with anger.
“If you can afford to say such a pathetic thing, get one more contract!!!!”
Finally, the roar of the family leader.
The board meeting was concluded that day.
D-5.
***
D-Day.
Emperor of the Japanese Empire.
The minister’s office.
“Naval budget?”
Admiral Matsugata looked at Admiral Yamamoto, who was sitting opposite him. The commercial banks are already rushing like dogs and they are tired, but are they even coming to the navy minister and whining for a budget? The authority to formulate the budget rested with the Minister, not the Parliament.
Matsugata sighed.
“The naval budget should have been allocated enough already. Wasn’t it possible because of the large amount of naval budgeting for the Shikishima class, which was immediately commissioned by the British Empire?”
“Don’t be too harsh with people from the same Satsuma clan. I’ve heard some news from my Royal Navy lieutenant in the British Empire.”
“Are you the Royal Navy?”
Matsugata almost wrinkled his expression for an instant, but he looked at Yamamoto with a calm face. How much was the budget of the Japanese Empire being consumed because of his giant gunship?
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Once heard
“Yes, you know how close the relationship between the Japanese Imperial Navy and the British Royal Navy is.”
“Well, that’s right.”
“They said the Royal Navy is building a new battleship this time. He’d probably have been commissioned by now. There’s a little bit of time lag since I’ve been listening to it from my UK.”
“So, you need to build that new battleship, but you don’t have the budget?”
“Exactly that.”
Right now, a huge amount of money is being poured into the establishment of a naval base (naval base), so I will make a warship here, so ask for more?
“That’s why we built the Shikishima class, isn’t it?”
“No, is the new battleship built by the Royal Navy different this time? You don’t believe me? Just close your eyes and do it.”
“No, this gentleman is real.”
While Matsugata and Yamamoto are arguing.
“Instead of Matsugata, this is a big deal!!!!”
bang-!
The door of the fortress opened suddenly, and officials from the fortress began pouring in. Among them, the oldest official handed Matsugata the telegram.
“What is this?”
“It is said that it was a telegram that came from the Minister of Foreign Affairs about yesterday. They came from the Joshu domain and handed over this telegram to us from the Satsuma domain, about a day late.
🥳-
The lieutenant colonel (the finance minister) snatched the telegram with white gloves and read it down. The more I read, the more blood started to disappear from the captain’s face.
“…Spain surrenders?”
“Yes, it is said that the Spanish Navy was annihilated by a new American battleship. In addition, the new battleship was also seen through sight-seeing in the Royal Navy. The Spanish government’s declaration of surrender is not surprising. Literally, the Spanish Navy has been deleted.”
“……for a moment. Wait a minute.”
The captain felt dizzy.
Until a few days ago, weren’t there more people who predicted Spain’s dominance? Why did the Spanish Empire suddenly surrender?
So what about pesos?
What currency swaps have you made so far?
What is the Bank of Japan’s payment guarantee?
bang-!
The lieutenant colonel denied reality.
“A country’s navy was annihilated by a new battleship? How could such a crazy battleship exist in this world…!”
“Look. didn’t i say Matsugata. The Japanese Empire also needs to build a new battleship!!!”
Admiral Matsugata turned his head and looked at the Minister of the Navy, who began to vomit again.
Things are going so badly, that naval idiot has no idea how things are going now.
Need to build a warship, ask for more budget?
‘It means that there might be no such thing as the general to give the budget right now…!’
no…..
Captain Matsugata looked out the window with a pale face.
Can not be done.
If it’s like this… If it’s like this…
bang-!
“Pick up all the currency swap lists made by domestic banks right now!!!! Everything, without any exceptions!!!”
The second hand towards destruction began to move.
***
click.
covered the pocket watch.
“It’s time.”
“Yes? Master, what does time mean?”
shoot-
A merchant ship bound for Yokohama, Japan, under the name of the Great Northern Railway, was passing through a dock in California. Aboard a huge merchant ship, James and I were staying in a special room.
I waved my pocket watch.
“The countdown to the destruction of Japan that I expected has just ended.”
“…..then!!!”
“Oh, it will happen right away.”
I raised the corners of my lips.
“It’s like the Meiji era panic.”
＜ Meiji Panic. (1) > end
