Flow of goods and circulation of money during the late Edo and the early Meiji period : evidence from the eastern Sanuki region

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  • 幕末維新期の商品流通と貨幣の使用実態について : 東讃岐地方の事例から
  • バクマツ イシンキ ノ ショウヒン リュウツウ ト カヘイ ノ シヨウ ジッタイ ニ ツイテ : ヒガシサヌキ チホウ ノ ジレイ カラ

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Abstract

This paper explores the transition of the circulation of money during the late Edo and the early Meiji period (1860s-1870s). We focus on the transition from paper money in monme (an old unit of account inherited from the Edo period) issued by feudal lords to that in yen issued by the central government as a means of exchange. To this end, we look into individual transactions appearing in accounting books of a merchant in the eastern part of Sanuki (now Kagawa prefecture). We find that, when the central government introduced the yen as the new unit of account in 1871, people in the eastern Sanuki mainly used paper money in monme issued by the feudal lord. Between 1871 and 1876, people seemingly used various types of monies such as the old monme-denominated paper money, copper coin, and the new yen-denominated paper money at the same time. In the fall of 1876, the new yen-denominated paper money suddenly prevailed in the region. Our methodology may be applicable to explore the use of money in other regions.

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