National Bank - kokuritsuginko

A bank established under the National Bank Act, which was modeled on the American National Bank Act, in November 1872 (Meiji 5) for the purposes of consolidating the large amount of inconvertible government paper money (such as Dajokan notes) issued in the early Meiji period and of supplying funds for the promotion of industry. A national bank was to (1) be organized as a joint-stock company, (2) contribute 60% of its capital in government paper money, pay this to the government, receive an equal amount of gold note exchangeable government bonds, and issue national bank notes using these bonds as collateral, (3) contribute 40% of its capital in specie to prepare for the exchange of bank notes, and (4) in addition to issuing notes, engage in regular banking operations such as deposits, loans, and foreign exchange. With the establishment of these national banks, government notes were withdrawn and all circulating currency was converted into specie notes, and it was expected that a modern monetary system would be established and that funds for industrial development would be steadily supplied. However, only four national banks, including the First National Bank of Tokyo, were established, and the government's issuance of notes continued to increase, so that any national bank notes issued were immediately converted into cash, and each bank fell into business difficulties.

By chance, a large amount of gold-registered public bonds were issued as a result of the disposal of stipends, and there was a great concern that if this was left unchecked, the value of the bonds would inevitably fall and become a social problem. In August 1876, the government revised the National Bank Ordinance, raising the amount of banknotes issued to 80% of capital, allowing gold-registered public bonds to be used as collateral for these bonds, and changing the conversion from specie to government paper money. As the government actively encouraged the establishment of banks by the samurai class, 153 national banks were established throughout Japan by December 1879, when licenses to establish national banks were suspended. However, the revision of the ordinance in 1876 made national bank notes effectively inconvertible, and this, combined with the increased issuance of government paper money to cover military expenses during the Satsuma Rebellion, led to the exacerbation of inflation.

For this reason, the government began to streamline banknotes, and when the Bank of Japan was established in 1882, it was decided that the issuance of banknotes would be limited to the bank itself, and in the following year, 1883, the National Bank Ordinance was revised again, stipulating that the term of business would be 20 years from the opening date, that issued banknotes would be collected within that business year, and that thereafter the bank would be converted to an ordinary bank. During this period, the Industrial Revolution was also achieved, and there was a remarkable development in the financial system, and by February 1899, 122 national banks had converted to ordinary banks, and the rest had been absorbed by other banks or dissolved. As Japan's first modern banks, the national banks formed the basis for the development of the banking system, and many of them subsequently became the core of banks in various regions. Even today, some existing banks still retain their numbers from when they were national banks in their names.

[Kazuyoshi Okada]

"Kato Toshihiko and Ouchi Chikara (eds.), "Study of National Banks" (1963, Keiso Shobo) " "Meiji Financial History Editorial Committee (eds.), "Meiji Financial History 13: Banks" (Reprint) (1972, Yoshikawa Kobunkan)"

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

明治初年に多量に発行された不換の政府紙幣（太政官(だじょうかん)札など）の整理と、殖産興業資金の供給を目的に、アメリカのナショナルバンク・アクト（国法銀行法）を範に1872年（明治5）11月に制定された国立銀行条例に基づいて設立された銀行。国立銀行は、(1)株式会社組織をとる、(2)資本金の60％を政府紙幣で出資、これを政府に納付して、同額の金札引換公債を受領し、同公債を抵当に国立銀行券を発行する、(3)資本金の40％を正貨で出資、銀行券の兌換(だかん)準備にあてる、(4)発券業務のほか、預金、貸出、為替(かわせ)などの通常の銀行業務を営む、ものとされた。このような国立銀行が設立されるにしたがって、政府紙幣は回収され、流通貨幣はすべて正貨兌換券となり、近代的貨幣制度が樹立されるとともに、殖産興業資金も安定的に供給されるものと期待された。しかし、国立銀行の設立は東京の第一国立銀行など4行にとどまり、政府紙幣の増発も続いたため、発行された国立銀行券はただちに兌換されるという事態が続き、各行とも営業困難に陥った。

　たまたま秩禄(ちつろく)処分による大量の金禄公債が発行されることとなり、これを放置しておけば公債下落は必然的で社会問題化する懸念が大きかった。政府は1876年8月に国立銀行条例を改正し、銀行券の発行額を資本金の80％に引き上げ、その抵当公債として金禄公債証書を認め、かつ正貨兌換を政府紙幣兌換と改めた。政府が積極的に士族授産に銀行設立を勧奨したこともあり、1879年12月に国立銀行設立免許が停止されるまでに153の国立銀行が各地に設立された。しかし、1876年の条例改正で国立銀行券は事実上不換紙幣となり、西南戦争の軍費として政府紙幣が増発されたのと相まって、インフレーションを助長するに至った。

　このため政府は紙幣整理に着手することとなり、1882年の日本銀行設立とともに銀行券の発行を同行のみに限定することとし、翌83年には国立銀行条例を再改正し、営業年限は開業日より20年、発行紙幣は営業年内に回収、以後は普通銀行に転換すべきものとした。この間に産業革命も達成され、金融制度の目覚ましい発展もあり、1899年2月までに122行の国立銀行が普通銀行に転換、残余は他行に吸収合併されるか解散した。国立銀行は日本最初の近代的な銀行として銀行制度発達の基礎をなすものであり、以後その多くのものが各地の銀行の中核的存在となった。なお今日でも、現存の銀行で国立銀行のときのナンバーを行名に残しているものもある。

［岡田和喜］

『加藤俊彦・大内力編『国立銀行の研究』（1963・勁草書房）』▽『明治財政史編纂会編『明治財政史13　銀行』復刊（1972・吉川弘文館）』

出典　小学館　日本大百科全書(ニッポニカ)日本大百科全書(ニッポニカ)について　情報 | 凡例