HISTOR¥

Currently working in the Kluge Center of the Library of Congress, I found a report about Matsukata Masayoshi's 1899 publication on the adoption of the gold standard in Japan. As this report is probably quite rare (and its existence unknown), I scanned it into a .pdf file and uploaded it in the 'available for download'-node.

Marc Flandreau and Clemens Jobst, 'The Ties that Divide: A Network Analysis of the International Monetary System, 1890–1910', The Journal of Economic History (2005) vol. 65. nr. 4, pp. 977-1007

Abstract:

Conventional studies of the late-nineteenth-century international monetary system refer heuristically to “core” and “peripheral” countries. In this article, we seek to provide rigorous foundations to such expressions. Applying a formal procedure borrowed from network analysis produces indices of centrality and systematic rankings. We show that the international monetary system of the late nineteenth century is best described as a three-tier system. Other findings include the discovery of a closely knitted European foreign exchange system, a complete lack of foreign exchange linkages within Latin America, emerging intra- Asian relations, and a fairly late ascendancy of the U.S. dollar.

I have read and studied Flandreau's and Jobst's excellent article with a lot of attention and interest. There are some major methodological issues here, especially where it concerns the willingness to take the 'course of exchange' bulletins of the time as the primary source for determining the status of a country in the late nineteenth century international system. This approach strikes me as justified. Market data are simply nonexistent for several countries; hence, as argued by Flandrea and Jobst, 'the network matrices (of countries quoting each others' currencies) provide a proxy for liquidity: evidence of active trade reveals the existence of a sufficiently large demand and supply to warrant the posting of prices.' (p. 983).

A while ago I mentioned that Tatsuno Kingo's design for the Bank of Japan building may have been drawn after the model of the National Bank of Belgium (NBB)-this would mean that NBB emulation went beyond its organization and charter. Yet, that claim is contentious to say the least. I will therefore check the few works available on this influential nineteenth century Japanese architect: the 工学博士辰野金吾伝; 日本銀行図譜 (mentioned by Fujimori Terunobu 藤森照信 but I could not find any matches in NACSIS Webcat?!); and the recently published 東京駅の建築家 辰野金吾伝.

"I just found your very interesting website, but have not had the time, yet, to review it thoroughly. I'm looking for details on the financial aspects of the RJW. We have a good deal on the French-Russian financing. See: http://www.rms-republic.com/conceal00.html et. seq. We're now focusing on the Japanese side. Japan placed a number of war loans in the US. At the conclusion of hostilities with the Treaty of