Ministry of Finance Convertible Securities

Japanese: 大蔵省兌換証券 - おおくらしょうだかんしょうけん

In 1871, the Ministry of Finance ordered the Mitsui Group to issue government paper money. Because the minting of new coins was delayed and to cover deficits in government revenue, three denominations of 10 yen, 5 yen, and 1 yen were issued with the promise of convertibility into specie. However, the reissuance of securities after conversion led to a decline in credibility, and in 1875 the bills were banned and replaced with new paper money.
→ Related topics Banknotes

Source : Heibonsha Encyclopedia About MyPedia Information

Japanese:

1871年，大蔵省が三井組に発行させた政府紙幣。新貨鋳造がまにあわないため，および財政収入の赤字補填(ほてん)のため，正貨兌換の約束のもとに10円，５円，１円の３種が発行された。しかし兌換後の証券の再発行等により信用も低下し，1875年に通用が禁止され，新紙幣と交換された。
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