CONTENTS
xix
| VII. The Nattional Debts | |
| PREPARED BY THE MINISTRY OF FINANCE | |
| The First Public Loans at the Restoration—Public Loans for the Prosecution of Public Works—Public Loans for Military Expansion—Public Loans for the Adjustment of Financial Administration—The Amount of Public Loans Redeemed and Outstanding | 355 |
| CHAPTER XVI | |
| BANKING | |
| I. The Growth of the Banking System in Japan | |
| PREPARED BY THE MINISTRY OF FINANCE | |
| The National Bank Regulations in 1872—The Change of National Banks into Private Banks—The Use of Cheques and Credit Notes—The Yokohama Specie Bank—The Bank of Japan—Local Industrial Banks—The Bank of Formosa—The Number of Banks—Banks under Government Patronage—The Powers and Duties of the Bank of Japan—Various Banks and their Scope—Bankers’ Associations and Clearing-houses—Ordinary Banks and Savings Banks | 361 |
| II. The Banking System | |
| BY MR. YAMAMOTO, EX-GOVERNOR OF THE BANK OF JAPAN | |
| The Solid Good Sense of the People—The Growth of Luxury—The Encouragement of Economy—The Value of the Depression of 1900–1901—The Necessity for proper Economic Training—The Unbounded National Resources—Competition with Foreign Countries on an Equal Footing | 379 |
| III. The Financial Crisis of 1900–1901 | |
| BY TADAMASA HAYASHI | |
| Financial Stringency an Attack of Sickness—The Inevitable Depression consequent upon Rapid Expansion—Judging a Nation’s Wealth on a Wrong Basis—Foreign Trade not the only Criterion of National Wealth—The Foreign Trade and the Remarkable Development of Ten Years—The National Debt Lower per capita than that of any other Nation—The Lessons of the Crisis | 381 |
