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2 Yen Note
The was a denomination of Japanese yen issued in two different overlapping series from 1872 to 1880 for use in commerce. Meiji Tsūhō "two yen" notes were the first to be released as inconvertible government notes in 1872. These notes were produced both domestically, and in Germany using western technology. While they had an elaborate design, the notes eventually suffered in paper quality, and were counterfeited. Two yen Meiji Tsūhō notes were not redesigned with other denominations in response to these issues. The series as a whole was effected by massive inflation that occurred during the aftermath of the Satsuma Rebellion in 1877. Too many non convertible notes had been issued to pay for the expenses incurred. Government notes stopped being issued in 1879, and the Bank of Japan was established in 1882 as a way to redeem old notes for new ones issued by the bank. This redemption period expired when the notes were abolished on December 9, 1899. National bank notes were first ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japanese Yen
The is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar (US$) and the euro. It is also widely used as a third reserve currency after the US dollar and the euro. The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as of gold, or of silver, and divided decimally into 100 ''sen'' or 1,000 ''rin''. The yen replaced the previous Tokugawa coinage as well as the various ''hansatsu'' paper currencies issued by feudal ''han'' (fiefs). The Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Following World War II, the yen lost much of its prewar value. To stabilize the Japanese economy, the exchange rate of the yen was fixed at ¥360 per US$ as part of the Bretton Woods system. When that system was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per US$ in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bank Note
National Bank Notes were United States currency banknotes issued by National Banks chartered by the United States Government. The notes were usually backed by United States bonds the bank deposited with the United States Treasury. In addition, banks were required to maintain a redemption fund amounting to five percent of any outstanding note balance, in gold or "lawful money." The notes were not legal tender in general, but were satisfactory for nearly all payments to and by the federal government. National Bank Notes were retired as a currency type by the U.S. government in the 1930s, when U.S. currency was consolidated into Federal Reserve Notes, United States Notes, and silver certificates. Background Prior to the American Civil War, state banks and chartered private banks issued their own banknotes. Privately issued banknotes were nominally backed by specie ( hard money) or financial securities held by the banks but oversight of issuing banks often was lax and encoura ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Gold Bank Note
National Gold Bank Notes were National Bank Notes issued by nine national gold banks in California in the 1870s and 1880s and redeemable in gold. Printed on a yellow-tinted paper, six denominations circulated: $5, $10, $20, $50, $100, and $500. A $1,000 banknote, note was designed and printed but never issued.Friedberg & Friedberg, 2010, p. 160. During the issuing period of national gold banks (1871–83), the United States Department of the Treasury, U.S. Treasury issued 200,558 notesHuntoon, 1996, p. 126. totaling $3,465,240. Today, National Gold Bank Notes are rare in the higher denominations (and unknown on some issuing banks) with condition generally falling in the good-to-fine range. Approximately 630 National Gold Bank Notes are known to exist, and roughly 20 grade above "very fine". History The National Gold Bank Notes were authorized under the provisions of the Currency Act of July 12, 1870. The series was a result of the California Gold Rush, where gold coins were preferr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Japan Notes
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Matsukata Masayoshi
Prince was a Japanese politician who was Prime Minister of Japan from 1891 to 1892 and 1896 to 1898. Early life Matsukata Masayoshi was born on 25 February 1835, in Arata, Kagoshima, Satsuma Province (present-day Shimoarata, Kagoshima, Kagoshima Prefecture), the fourth son of Matsukata Masayasu and his wife Kesaku. His family was of the ''samurai'' warrior nobility class. Both his parents died when he was 13 years old. At the age of 13, he entered the ''Zoshikan'', the Satsuma domain's Confucian academy, where he studied the teachings of Wang Yangming, which stressed loyalty to the Emperor. He started his career as a bureaucrat of the Satsuma Domain. In 1866, he was sent to Nagasaki to study western science, mathematics and surveying. Matsukata was highly regarded by Ōkubo Toshimichi and Saigō Takamori, who used him as their liaison between Kyoto and the domain government in Kagoshima. Knowing that war was coming between Satsuma and the Tokugawa, Matsukata purchased a shi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silver Standard
The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians 3000 BC until 1873. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years. The move away from the silver to the gold standard began in the 18th century when Great Britain set the gold guinea’s price in silver higher than international prices on the recommendation of Sir Isaac Newton, attracting gold and putting them on a de facto gold standard. Great Britain formalized the gold standard in 1821 and introduced it to its colonies afterwards. Imperial Germany’s move to the gold standard in 1873 triggered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
De Facto
''De facto'' ( ; , "in fact") describes practices that exist in reality, whether or not they are officially recognized by laws or other formal norms. It is commonly used to refer to what happens in practice, in contrast with ''de jure'' ("by law"), which refers to things that happen according to official law, regardless of whether the practice exists in reality. History In jurisprudence, it mainly means "practiced, but not necessarily defined by law" or "practiced or is valid, but not officially established". Basically, this expression is opposed to the concept of "de jure" (which means "as defined by law") when it comes to law, management or technology (such as standards) in the case of creation, development or application of "without" or "against" instructions, but in accordance with "with practice". When legal situations are discussed, "de jure" means "expressed by law", while "de facto" means action or what is practiced. Similar expressions: "essentially", "unofficial", "in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1 Yen Coin
The is the smallest denomination of the Japanese yen currency. Historically they were initially made of both silver and gold in the early 1870s. Issues facing the Japanese government at the time included wanting to adopt the gold standard, and competing against the Mexican dollar for use in foreign trade. The decision was made to use silver one yen coins exclusively outside of Japan for trade, while gold coins were minted and used in mainland Japan. Gold and silver coins were eventually allowed to co-circulate in mainland Japan from 1878 to 1897 when they were demonetized. Millions of former one yen silver coins were countermarked by the Japanese government for use outside of the mainland. Silver one yen coins continued to be minted until 1914 for backing up currency. One yen coins were not made again until after World War II in the late 1940s for a brief period of time. The current one yen coin design was first minted in 1955, is made up of pure aluminium, and has a young tree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ōkuma Shigenobu
Marquess was a Japanese statesman and a prominent member of the Meiji oligarchy. He served as Prime Minister of the Empire of Japan in 1898 and from 1914 to 1916. Ōkuma was also an early advocate of Western science and culture in Japan, and founder of Waseda University. He is considered a centrist. Early life Ōkuma was born Hachitarō on March 11, 1838, in Saga, Hizen Province (modern day Saga Prefecture). He was the first son of a samurai-class artillery officer of the Saga Domain. During his early years, his education consisted mainly of the study of Confucian literature and ''Hagakure'', which was written by a countryman samurai. However, he left school in 1853 to move to a Dutch studies institution.Borton, p. 91. The Dutch school was merged with the provincial school in 1861, and Ōkuma took up a lecturing position there shortly afterward. Ōkuma sympathized with the ''sonnō jōi'' movement, which aimed at expelling the Europeans who had started to arrive in Japan. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Money
Fiat money (from la, fiat, "let it be done") is a type of currency that is not backed by any commodity such as gold or silver. It is typically designated by the issuing government to be legal tender. Throughout history, fiat money was sometimes issued by local banks and other institutions. In modern times, fiat money is generally authorized by government regulation. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, which is money that has intrinsic value because it is backed by and can be conver ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Meiji Tsuho (1872)
is the first currency that was issued by the Imperial Japanese government during the early Meiji era. These notes are in denominations of yen, which are broken down into subsidiarity units known as "sen". Meiji Tsūhō notes were not redeemable for gold or silver as they were released as fiat currency. History The first notes adopted and released by the Japanese government are part of a series known as . These notes were the first Japanese currency ever to be printed using western printing at Dondorf and Naumann, which was located in Frankfurt. Meiji Tsuho notes were designed by Edoardo Chiossone sometime in 1870 while he was working for Dondorf Naumann on behalf of ''The National Bank in the Kingdom of Italy''. The process of making Chiossone's proposed design a reality started with the establishment of the " Imperial Printing Bureau of Japan" in 1871 (4th year of Meiji). In order to produce the currency the Japanese government reached out to Dondorf and Naumann to gain acc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
