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Historical background

Published online by Cambridge University Press:  03 February 2010

Norio Tamaki
Affiliation:
Keio University, Tokyo
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Summary

The opening of Japan to the western powers in 1859, after a 230-year seclusion, was to prove fatal to the Tokugawa Shogunate regime. Shogunal concessions, agreeing to open Japanese ports to foreigners, aroused, especially among the influential feudal lords and their samurai subjects, bitter passions which were embodied in the slogan ‘Revere the Emperor, expel the barbarian’. This extremist slogan and movement, however, did not survive even the first half of the 1860s when two of the strongest domains, Satsuma and Choshu, reversed their anti-foreign stance. These two enlightened domains, situated in the far south-west of Japan where western things and influences entered Japan via Nagasaki, recognised the brutal reality, following the western powers' bombardment of Kagoshima, the capital of Satsuma, and Shomonseki in Chosu territory, that ‘expel the barbarian’ policies were absurd. The union of the two domains, armed with some rudimentary western science, technology and, above all, modern weapons, gathered forces at an astonishing speed to lead the attack on the Shogunate from the autumn of 1867 to the spring of 1868. As the young samurai of Satsuma and Chosu and their allies had to shoulder all the burdens, including those of financial management, in a new administration (the Meiji government), an enormous amount of hitherto pent-up energy of young ex-samurai was released. For the time being, of necessity, the young oligarchs had no option but to rely heavily on the old merchant bankers.

Type
Chapter
Information
Japanese Banking
A History, 1859–1959
, pp. 3
Publisher: Cambridge University Press
Print publication year: 1995

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  • Historical background
  • Norio Tamaki, Keio University, Tokyo
  • Book: Japanese Banking
  • Online publication: 03 February 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511586415.004
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  • Historical background
  • Norio Tamaki, Keio University, Tokyo
  • Book: Japanese Banking
  • Online publication: 03 February 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511586415.004
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Historical background
  • Norio Tamaki, Keio University, Tokyo
  • Book: Japanese Banking
  • Online publication: 03 February 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511586415.004
Available formats
×