Order to abolish donations

In 1789 (Kansei 1), the Order for the Cancellation of Debts was issued to relieve the finances of the Hatamoto Gokenin (vassals of the Shogunate) and to curb the extravagance of the Fudasashi (money-senders). The debts of the Hatamoto who were in charge of collecting rice from the Shogunate were cancelled with both the principal and interest up until 1784 (Tenmei 4), and from 1785 onwards, the interest rate was lowered to 6% per year and repaid in annual installments. As a result, the Fudasashi lost over 1,187,808 ryo of debt, and finances dealing with samurai fell into a state of panic. The Shogunate lent 20,000 ryo of public funds and set up a money-lending association in an effort to appease the Fudasashi, forcing them to cancel their debts, but the finances of the Hatamoto did not necessarily improve, and in 1843 (Tenpo 14), Fudasashi loans were again made interest-free and perpetual. More than half of the notebrokers suffered heavy losses and closed their businesses, leading to chaos in the financial world and worsening the impoverishment of the samurai and gokenin. In 1862 (Bunkyu 2), the government lowered the annual interest rate to 7% and ordered annual installments, but due to the chaos of the end of the Edo period, this had little effect, and the notebrokering business disappeared soon after the Meiji Restoration. There were also cases in which various feudal domains issued laws unilaterally ordering the cancellation, installment, and interest reduction of merchants' claims against samurai.

[Susumu Kitahara]

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

1789年（寛政1）旗本御家人(ごけにん)の財政を救済し、札差(ふださし)の奢侈(しゃし)を抑制するために発布した債権破棄令。蔵米取(くらまいとり)の旗本らが札差から借りていた債務を、1784年（天明4）以前は元金・利子とも破棄、85年以後を年利6％に下げ年賦償還とした。札差はこのため118万7808両余の債権を失い、武士相手の金融は恐慌状態に陥った。幕府は2万両の公金貸下げと、貸金会所を設けて札差への慰撫(いぶ)に努めて棄捐を強行したが、旗本らの財政はかならずしも好転せず、1843年（天保14）にふたたび札差借財を無利子・永年賦とした。大損害を受けた札差は半数以上が閉店したため廃業者も出て金融界は混乱し、旗本御家人の窮乏化がかえって進行した。1862年（文久2）にも年利を7％に下げ年賦を命じたが、幕末の混乱でほとんど効果なく、まもなく明治維新により札差業が消滅した。なお、諸藩においても、武士に対する商人の債権の棄捐・年賦・利子引下げを一方的に命じた法令が出されている例がある。

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