The early history of the Yokohama Specie Bank

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  • 創業期の横浜正金銀行 : 貿易金融業務の開始と経営管理体制の構築
  • ソウギョウキ ノ ヨコハマ ショウキン ギンコウ : ボウエキ キンユウ ギョウム ノ カイシ ト ケイエイ カンリ タイセイ ノ コウチク

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The Yokohama Specie Bank was founded in 1880 as a collaborative effort of private individuals and the Japanese Government. In the early days, the bank's managers were drawn from the private investors, while bureaucrats appointed by the Okura-sho (Finance Ministry) tried to exercise control. Since the bank's managers did not provide sufficient information to the bureaucrats, this system of control failed, and the bank accumulated bad loans. To deal with this situation, in 1882 the Finance Ministry appointed Hara Rokuro, a professional bank manager experienced in foreign exchange transaction, as the president of the bank. Hara's fundamental reform of the bank's management became the most important prerequisite for the management reform of 1887, which followed Hara's reform and put the management of the bank on a sound footing.

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