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Shōwa Financial Crisis
The was a financial panic in 1927, during the first year of the reign of Emperor Hirohito of Japan, and was a foretaste of the Great Depression. It brought down the government of Prime Minister Wakatsuki Reijirō and led to the domination of the ''zaibatsu'' over the Japanese banking industry. The Shōwa Financial Crisis occurred after the post–World War I business boom in Japan. Many companies invested heavily in increased production capacity in what proved to be an economic bubble. The post-1920 economic slowdown and the Great Kantō earthquake of 1923 caused an economic depression, which led to the failures of many businesses. The government intervened through the Bank of Japan by issuing discounted "earthquake bonds" to overextended banks. In January 1927, when the government proposed to redeem the bonds, rumor spread that the banks holding these bonds would go bankrupt. In the ensuing bank run, 37 banks throughout Japan (including the Bank of Taiwan) and the second-t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run During The Showa Financial Crisis
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. As 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 ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run
A bank run or run on the bank occurs when many Client (business), clients withdraw their money from a bank, because they believe Bank failure, the bank may fail in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvency, insolvent. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank may acquire more cash from other banks or from the central bank, or limit the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1923 Great Kantō Earthquake
The 1923 Great Kantō earthquake (, or ) was a major earthquake that struck the Kantō Plain on the main Japanese island of Honshu at 11:58:32 JST (02:58:32 UTC) on Saturday, 1 September 1923. It had an approximate magnitude of 8.0 on the moment magnitude scale (Mw), with its epicenter located southwest of the capital Tokyo. The earthquake devastated Tokyo, the port city of Yokohama, and surrounding prefectures of Kanagawa, Chiba, and Shizuoka, and caused widespread damage throughout the Kantō region. Fires, exacerbated by strong winds from a nearby typhoon, spread rapidly through the densely populated urban areas, accounting for the majority of the devastation and casualties. The death toll is estimated to have been between 105,000 and 142,000 people, including tens of thousands who went missing and were presumed dead. Over half of Tokyo and nearly all of Yokohama were destroyed, leaving approximately 2.5 million people homeless. The disaster triggered widespread social ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1927 In Economic History
Nineteen or 19 may refer to: * 19 (number) * One of the years 19 BC, AD 19, 1919, 2019 Films * ''19'' (film), a 2001 Japanese film * ''Nineteen'' (1987 film), a 1987 science fiction film * ''19-Nineteen'', a 2009 South Korean film * ''Diciannove'', a 2024 Italian drama film informally referred to as "Nineteen" in some sources Science * Potassium, an alkali metal * 19 Fortuna, an asteroid Music * 19 (band), a Japanese pop music duo Albums * ''19'' (Adele album), 2008 * ''19'', a 2003 album by Alsou * ''19'', a 2006 album by Evan Yo * ''19'', a 2018 album by MHD * ''19'', one half of the double album ''63/19'' by Kool A.D. * ''Number Nineteen'', a 1971 album by American jazz pianist Mal Waldron * ''XIX'' (EP), a 2019 EP by 1the9 Songs * "19" (song), a 1985 song by British musician Paul Hardcastle * "Stone in Focus", officially "#19", a composition by Aphex Twin * "Nineteen", a song from the 1992 album ''Refugee'' by Bad4Good * "Nineteen", a song from the 2001 alb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Crises
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with Bank run#Systemic banking crises, banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial Economic bubble, bubbles, currency crisis, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy (for example, the crisis resulting from the famous tulip mania bubble in the 17th century). Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus and financial crises continue to occur from time to time. It is apparent however that a consistent feature of bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1927 In Japan
Events in the year 1927 in Japan. It corresponds to Shōwa period, Shōwa 2 (昭和2年) in the Japanese calendar. Incumbents *Emperor of Japan, Emperor: Hirohito *Prime Minister of Japan, Prime Minister: **Wakatsuki Reijirō (until April 20) **Tanaka Giichi (From April 20) Governors *List of governors of Aichi Prefecture, Aichi Prefecture: Saburo Shibata (until 17 May); Toyoji Obata (starting 17 May) *Akita Prefecture: Nakano Kunikazu (until 17 May); Yuichiro Chikaraishi (starting 17 May) *List of governors of Aomori Prefecture, Aomori Prefecture: ** until 27 May: Koyanagi Mamoru ** 27 May-7 November: Jiro Morioka ** starting 7 November: Tetsuzo Yoshimura *Ehime Prefecture: Masayasu Kosaka (until 27 May); Yujiro Ozaki (starting 27 May) *Fukui Prefecture: Keizo Ichimura *Fukuoka Prefecture: Saito Morikuni (starting month unknown) *Fukushima Prefecture: Hiroshi Kawabuchi (until 27 May); Ito Kihachiro (starting 27 May) *Gifu Prefecture: Shintaro Suzuki (until 27 May); Rokuichiro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The Empire Of Japan
The economy of the Empire of Japan refers to the period in Japanese economic history in Empire of Japan, Imperial Japan that began with the Meiji Restoration in 1868 and ended with the Surrender of Japan in 1945 at the end of World War II. It was characterized by a period of Industrialisation, rapid industrialization in the late nineteenth and early twentieth centuries, and the dominance of a War economy, wartime economy from 1938 to 1945. The proto-industrial base The Tokugawa Japan during a long period of “Sakoku Edict of 1635, closed country” autarky between the mid-seventeenth century and the 1850s had achieved a high level of urbanization; well-developed road networks; the channeling of river water flow with embankments and the extensive elaboration of irrigation ditches that supported and encouraged the refinement of rice cultivation based upon improving seed varieties, fertilizers and planting methods especially in the Southwest with its relatively long growing seaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fifteenth Bank
The Fifteenth National Bank, from 1897 the Fifteenth Bank (, ''Jugo Ginko''), established in 1877 in Tokyo, was initially the largest of the early National Banks in Meiji Japan. Its failure in 1927 was a climactic point of the Shōwa financial crisis. It was subsequently reorganized by the Japanese government, and eventually absorbed in 1944 by the Teikoku Bank, itself a predecessor of SMBC Group. Overview The 15th National Bank was established by a group of high-ranking nobility including Iwakura Tomomi, Tokugawa Yoshikatsu, Yamauchi Toyonori, Kuroda Nagatomo, Ikeda Akimasa, Tōdō Takakiyo, Matsudaira Mochiaki, Nanbu Toshiyuki, and , and was therefore colloquially known as the "Kazoku Bank". Its first president was . With an initial capital of 17.8 million yen, it was by far the largest Japanese bank, with its capital representing 44.5 percent of the total capital of all national banks. Immediately after its creation, it provided funding to the Japanese government during th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the world's countries participated, with many nations mobilising all resources in pursuit of total war. Tanks in World War II, Tanks and Air warfare of World War II, aircraft played major roles, enabling the strategic bombing of cities and delivery of the Atomic bombings of Hiroshima and Nagasaki, first and only nuclear weapons ever used in war. World War II is the List of wars by death toll, deadliest conflict in history, causing World War II casualties, the death of 70 to 85 million people, more than half of whom were civilians. Millions died in genocides, including the Holocaust, and by massacres, starvation, and disease. After the Allied victory, Allied-occupied Germany, Germany, Allied-occupied Austria, Austria, Occupation of Japan, Japan, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tanaka Giichi
Baron was a Japanese general and politician who served as Prime Minister of Japan from 1927 to 1929. Born to a ''samurai'' family in the Chōshū Domain, Tanaka became an officer in the Imperial Japanese Army and rose through the ranks. He served as Minister of the Army under Prime Ministers Hara Takashi and Yamamoto Gonnohyōe. After retiring from active duty he accepted the presidency of the Rikken Seiyūkai, a major conservative party. Following the resignation of the Wakatsuki Cabinet in 1927, Tanaka was appointed Prime Minister. In foreign affairs, he pursued a hawkish policy; in domestic affairs, he sought to suppress communist movements. Criticised for his handling of the unauthorised assassination of Zhang Zuolin by a Kwangtung Army officer, he resigned in 1929 and died soon afterwards. Early life and military career Tanaka was born as the third son of a low-ranking ''samurai'' family in the service of Chōshū Domain in Hagi, Nagato Province (modern day Yamaguchi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privy Council Of Japan
The was an advisory council to the Emperor of Japan that operated from 1888 to 1947. It was largely used to limit the power of the Imperial Diet. Functions Modeled in part upon the British Privy Council, this body advised the Japanese Empire on matters including, but not limited to: * Proposed amendments to the Constitution of the Empire of Japan * Proposed amendments to the 1889 Imperial Household Law * Matters of constitutional interpretation, proposed laws, and ordinances * Proclamations of martial law or declaration of war * Treaties and other international agreements * Matters concerning the succession to the throne * Declarations of a regency under the Imperial Household Law; * Matters submitted by the Emperor directly The Privy Council had both judicial functions and certain executive functions. However, the council had no power to initiate legislation. Establishment To oversee new governmental developments, in 1871, three councils were created - the Council of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
