Shibusawa Eiichi denki shiryō, Vol. 4

11 June 1873 (Meiji 6) [id: DK040001k] ……… p. 5

Eiichi attends the organizational general meeting and presents three proposals on: methods of bank operations, the selection of officers from Mitsui-gumi (三井組, Mitsui Group) and Ono-gumi (小野組, Ono Group), and the establishment of an office of the superintendent. Moreover, he reads aloud the bylaws and supplementary rules that he himself drafted. He consults with and receives approval from the shareholders. At the meeting Eiichi is recommended for the post of director, but he refuses on the grounds that he is in government service. On the following day, 12 June, he signs a contract to serve as the bank’s superintendent.

June 1873 (Meiji 6) [id: DK040002k] ……… p. 34

This month, the bank enters into a contract with the Ministry of Finance (大蔵省) for the management of government money and continues to look after this from here onwards. It is also appointed to handle the accounts of the Ministry of Home Affairs (内務省), the Postal Bureau (駅逓寮), and other government agencies until June 1876.

1 August 1873 (Meiji 6) [id: DK040003k] ……… p. 41

Previously, in July, the bank’s capital had been set at 2,440,800 yen and various rules, including those regulating dividends and directors’ remuneration and travel allowances, had been established. On 20 July, it obtained a provisional business license and opened for business the same day. On 31 July, a standard license was granted and, on this day [1 August], a meeting of shareholders is held. Eiichi chairs the meeting and reports on, among other things, the various administrative and other tasks carried out between the organizational general meeting and the opening of business. He receives the approval of the shareholders. The opening ceremony follows and Paper Money Bureau Director (紙幣頭) Yoshikawa Akimasa (芳川顕正) gives a congratulatory speech. Eiichi, representing the shareholders, reads aloud a congratulatory address.

2 August 1873 (Meiji 6) [id: DK040004k] ……… p. 52

On this day, the bank issues bank notes in five denominations: 1-, 2-, 5-, ten-, and twenty-yen. Eiichi takes part as superintendent.

12 October 1873 (Meiji 6) [id: DK040005k] ……… p. 55

On this day, the bank asks Paper Money Bureau Director (紙幣頭) Tokunō Ryōsuke (得能良介) for permission to exchange one-third of the bank note and deposit reserves for gold, silver, bullion, old gold and silver, and foreign silver to be used as reserves. Furthermore, on 17 November and then on 28 January 1874, the bank makes the same request, but the Grand Council of State (太政官) does not give permission.

1873 (Meiji 6) [id: DK040006k] ……… p. 57

Since opening for business on 20 July, the bank has been working on improvements to general business operations and growing business. It posts a net profit of over 1.1 million yen for the second half of 1873.

21 January 1874 (Meiji 7) [id: DK040007k] ……… p. 62

On this day, on behalf of the president, Eiichi presides over the general meeting of the bank’s shareholders and reports on its performance for the second half of 1873. In addition, it is decided to increase capital to 25 million yen, which is officially approved on 22 February.

23 February 1874 (Meiji 7) [id: DK040008k] ……… p. 67

Eiichi decided to send Taneda Seiichi (種田誠一) to the United States to learn about bank management. On this day, a contract is concluded between Taneda and the bank.

February 1874 (Meiji 7) [id: DK040009k] ……… p. 73

The bank applies to the Ministry of Foreign Affairs (外務省) and the Ministry of Finance (大蔵省) for permission to act as the financial agent for Japanese legations and consulates abroad and plans overseas expansion. The government does not approve the application likely due to opposition from Alexander Allen [Allan] Shand, an Englishman in the post of banking advisor to the Ministry of Finance.

31 August 1874 (Meiji 7) [id: DK040010k] ……… p. 77

Due to a rise in the value of gold coins, the amount of the bank’s notes in circulation has decreased. Because of this, on this day, the bank applies to the National Debt Bureau (国債寮) for permission to borrow 4 million yen in new paper currency. Approval is granted on 4 September. Eiichi takes part as the bank’s superintendent.

12 September 1874 (Meiji 7) [id: DK040011k] ……… p. 79

There was a discussion within the government about the establishment of a new currency and yen-silver exchange house in Shanghai. On this day, following a directive from the Ministry of Finance (大蔵省), the bank sends employees Matsuda Gengorō (松田源五郎) and Yō Sonoji (陽其二) to Shanghai to investigate the extent of the circulation of Mexican silver, trade silver, new currency, silver yen coins, and other coins in Shanghai, Hong Kong, and the surrounding areas. Eiichi participates and tries to take the initiative by drafting a Shanghai exchange house ordinance. Later, the government changes policy and the project is not realized.

20 November 1874 (Meiji 7) [id: DK040012k] ……… p. 83

Previously, the government had revised exchange procedures for the prefectures. Shaken by this, Ono-gumi (小野組, Ono Group) had closed its doors and, on this day, applies to the Ministry of Finance (大蔵省) for a release from its role as a financial exchange agent. The government approves the application. Due to this, the handling of the prefectures’ financial affairs is transferred to the bank. Eiichi makes every effort to settle the situation arising from the closing of Ono-gumi.

2 December 1874 (Meiji 7) [id: DK040013k] ……… p. 132

Previously, on 29 November, the bank had submitted a petition to Paper Money Bureau Director (紙幣頭) Tokunō Ryōsuke (得能良介) concerning the collateral for a loan to Furukawa Ichibee (古河市兵衛) of Ono-gumi (小野組, Ono Group). On this day [2 December], it is ordered that a mine in Akita prefecture, part of the collateral, be placed under the bank’s management.

31 December 1874 (Meiji 7) [id: DK040014k] ……… p. 139

With the closing of Ono-gumi (小野組, Ono Group), Mitsui-gumi (三井組, Mitsui Group) set about putting the Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank) under its management. On 20 December, Mitsui-gumi’s Minomura Rizaemon (三野村利左衛門) submitted to Eiichi a proposal for the reorganization of the bank. Eiichi is opposed to this and instead tries to have it removed from the control of Mitsui-gumi. On this day [31 December], he presents to Paper Money Bureau Director (紙幣頭) Tokunō Ryōsuke (得能良介) a detailed report calling for a reform of the bank and discusses the matter at a meeting of shareholders held on 11 January 1875. On 27 June of the same year, the director of the Paper Money Bureau calls for the submission of a plan for organizational reform.

1874 (Meiji 7) [id: DK040015k] ……… p. 153

This year the bank undertook operational reforms, such as improving the deposit system, establishing regulations on handling bills of exchange, and initiating a correspondent arrangement.

11 July 1875 (Meiji 8) [id: DK040016k] ……… p. 156

The bank posted a net profit of over 1.1 million yen for the first half of 1875 by instituting worker training, resuming correspondent arrangements, and other efforts to expand business. On this day, a general meeting of shareholders is held and Eiichi reports on the business performance for this period on behalf of the bank’s president.

1 August 1875 (Meiji 8) [id: DK040017k] ……… p. 168

The drafting of a report on organizational reform for the bank, previously ordered by the director of the Paper Money Bureau (紙幣頭), was entrusted to Eiichi at a meeting of shareholders on 11 July. On this day, an extraordinary meeting of shareholders is held and Eiichi’s draft plan, with the matter of reducing the bank’s capital to 1.5 million yen and five other items, is approved. Eiichi is then chosen to become a director and, moreover, at a meeting of directors he is appointed as bank president and sets about implementing the drafted reforms.

17 December 1875 (Meiji 8) [id: DK040018k] ……… p. 191

On 8 March 1875, the bank, jointly with the Second, Fourth, and Fifth National Banks of Japan (第二・第四・第五の各国立銀行), submitted a petition to the Paper Money Bureau (紙幣寮) calling for the abolition of the specie conversion system. Paper Money Bureau Director (紙幣頭) Tokunō Ryōsuke (得能良介) proposed a loan of 7.1 million yen in reserve paper money to aid the banks and asked the bank for its opinion. On 22 July, Eiichi presented a plan in response and, as a result, on this day [17 December], it is announced that 4.5 million yen of new paper money will be loaned to the banks with their paper currency as collateral.

11 January 1876 (Meiji 9) [id: DK040019k] ……… p. 202

In the second half of 1875, the bank posted a net profit of over 138,000 yen and resolved to expand business, including the revision of bank drafts, expansion of payment collection bills and discounted bills, launch of raw silk documentary bills, and expansion of correspondent arrangements. On this day, a general meeting of shareholders is held and Eiichi, as bank president, reports on business performance.

5 March 1876 (Meiji 9) [id: DK040020k] ……… p. 210

Previously, the Ministry of Finance had established the Payment Bureau (納金局) and Jikkinkyoku (実金局, Money Bureau) and, on 1 March, stopped the handling of government money by the bank. On this day, Eiichi tells Paper Money Bureau Director (紙幣頭) Tokunō Ryōsuke (得能良介) why the ways in which government money is handled should not be changed so suddenly. Also, around this time, Eiichi repeatedly sends letters to Minister of Finance (大蔵卿) Ōkuma Shigenobu (大隈重信) requesting a loan. The government yields, postpones the full payment of government funds until June, and, as a special favor, extends a loan of 7.5 million yen until October.

16 July 1876 (Meiji 9) [id: DK040021k] ……… p. 225

In the first half of 1876, the bank posted a net profit of over 1.48 million yen and saw growth in business including the revision of loan deeds, establishment of safety deposit procedures, and establishment of rules for high interest fixed term deposits.
On this day, a general meeting of shareholders is held and Eiichi, as bank president, reports on business performance. He then proposes that the number of directors at the head office and branches be reduced, that monthly salaries and travel allowances be gradually decreased, and that the rules for dividends be amended. The plan is to streamline management in order to enable growth as a purely private bank since the bank will likely be stopped from handling government money. This goal is later fulfilled.

August 1876 (Meiji 9) [id: DK040022k] ……… p. 233

The bank opens local offices in Sendai and Ishinomaki to process rice documentary bills in the Sanriku area [present-day Aomori, Iwate, and Miyage prefectures]. Between then and 1880 or 1881, the bank pays special attention to financial activities in the Tōhoku region by opening a branch in Morioka and other measures.

1 October 1876 (Meiji 9) [id: DK040023k] ……… p. 239

On 1 August, the amended National Bank Ordinance was promulgated. On the 20th of that month the bank held an extraordinary meeting of shareholders and discussed twelve items, including that of continuing operations in accordance with the amended ordinance. On 12 September, the bank promulgated a new certificate of organization and articles of association. On the 26th of the same month, a business license was granted and, on this day [1 October], the bank begins conducting business according to the amended ordinance.

1876 (Meiji 9) [id: DK040024k] ……… p. 282

Between the amendment of the National Bank Ordinance and around 1880, the bank advanced general banking business by measures including the initiation of discounts on the price of gold ingots and credit accounts, establishment of rules for handling discounted bills, establishment of methods for the use of cash and cheques for current deposits, and establishment of rules for reserve deposits. At the same time, in its dealings with government money, the bank was also issued with new orders and had the scope of these widened in many cases. Eiichi takes part as the bank president.

1876 (Meiji 9) [id: DK040025k] ……… p. 293

Many national banks are opened in the wake of the revision of the National Bank Ordinance and, for several years thereafter, the bank acts as a guide for these and other new banks. Around this time Eiichi writes a book, Chūgai ginkō setsu ippan (Outline of a Theory of National and International Banking), and contributes greatly to the growth of banking.

7 January 1877 (Meiji 10) [id: DK040026k] ……… p. 314

Eiichi attends a meeting of shareholders and, as bank president, reports on business performance for the latter half of 1876.

26 January 1877 (Meiji 10) [id: DK040027k] ……… p. 319

Earlier, the Chinese government had requested a loan of 10 million yen from the Japanese government. Eiichi advised Minister of Finance (大蔵卿) Ōkuma Shigenobu to agree to this and proposed a way it could be done. Based on this, the government assigned Eiichi and Mitsui Bussan (三井物産会社) President Masuda Takashi (益田孝) to negotiate the loan and ordered them to sign a contract under the name of the bank. In addition, the two were also entrusted by the government with negotiations for a loan to the Chinese Investment Bureau (清国招商局).
On this day, Eiichi and Masuda Takashi leave for Shanghai. On 12 February, they reach an agreement to provide the Chinese government with a loan of 2.5 million Haiguan taels and sign a contract. The negotiations for the loan to the Investment Bureau fail and the two men return to Japan on 26 February. Later, the Chinese government cancels the previously signed contract.

May 1877 (Meiji 10) [id: DK040028k] ……… p. 351

The bank launches a bank guarantee program and establishes rules on guarantee services for trade goods in order to expand its business in documentary bill loans. It then establishes a guarantee certificate system and a system of circulatory notes.

4 June 1877 (Meiji 10) [id: DK040029k] ……… p. 356

The bank submits a petition to reduce tax stamps on current deposit passbooks. The petition is not approved.

2 July 1877 (Meiji 10) [id: DK040030k] ……… p. 357

The Takuzenkai (択善会) is organized with the goal of promoting friendship among bankers. Eiichi represents the bank.

August 1877 (Meiji 10) [id: DK040031k] ……… p. 357

At Eiichi’s initiative, the bank launches marine shipping guarantee services for goods with bills of exchange. This is likely the beginning of the marine insurance business in Japan.

1877 (Meiji 10) [id: DK040032k] ……… p. 363

Eiichi plans to establish a branch of the bank in Shanghai, but gives up the idea on the advice of Englishman Alexander Allen [Allan] Shand.

11 March 1878 (Meiji 11) [id: DK040033k] ……… p. 366

Previously, based on a proposal by the bank, the Takuzenkai (択善会) had deliberated on a law for exchanging ripped or damaged paper bank notes, but on this day, the bank is commissioned by the associated banks to submit a draft exchange act to the Banking Division (銀行課) of the Ministry of Finance (大蔵省). Eiichi participates.

April 1878 (Meiji 11) [id: DK040034k] ……… p. 366

The bank opens agencies in the Shanghai and Hong Kong branches of Mitsui Bussan (三井物産会社) and attempts to circulate Japanese silver coins and trade silver for use in China. In February 1881, the agency contract is revised and it becomes an exchange transaction agreement. Eiichi works hard to achieve this.

2 May 1878 (Meiji 11) [id: DK040035k] ……… p. 378

In order to promote industry, the government decides to issue 12.5 million yen of new industrial promotion bonds and, on this day, directs the bank and Mitsui Bank (三井銀行) to offer the bonds for subscription. At a meeting of the Takuzenkai (択善会), Eiichi calls on the associated banks to subscribe to the bonds. He also travels along the Tōkaidō and Tōsandō roads and to Kyoto and Osaka to promote subscription of the bonds.

8 June 1878 (Meiji 11) [id: DK040036k] ……… p. 394

The bank opens a branch in Busan [Korea]. From this time until the establishment of the Bank of Korea (韓国銀行) in 1909, the branch contributes greatly to the bank’s financial endeavors in Korea. Eiichi takes the lead as bank president.

19 January 1879 (Meiji 12) [id: DK040037k] ……… p. 394

Eiichi is determined to find a financial route to what he sees as a pressing need to promote industry, even if that means dipping into the bank’s reserve balance. He expresses his determination at general meetings of shareholders on 15 July 1877 and this day.

1880 (Meiji 13) [id: DK040038k] ……… p. 398

The decrease in the value of paper currency and rise in prices following the Satsuma Rebellion were especially marked this year, giving a temporary boost to commerce and industry. The bank has also shown positive results and seen its net profits increase from 1.4 million yen for the first half of 1877 to 2.2 million yen for the second half of 1880. Eiichi sees this as a transient phenomenon and wants to place the bank on a solid business foundation to guard against future backlash. By the end of this year the bank has a reserve of over 3.3 million yen, which makes up more than one-fifth of its capital.

1 November 1881 (Meiji 14) [id: DK040039k] ……… p. 415

The bank is charged by the Ministry of Home Affairs (内務省) Accounting Bureau (会計局) with the exchange operations of the Bureau.

1881 (Meiji 14) [id: DK040040k] ……… p. 421

During the period from this year through to the second half of 1886, in addition to pursuing the adjustment of paper currency, the business world is swept into a downward spiral of recession. The bank is also in a slump, but Eiichi guides it skillfully so that it is on a stable foundation. The bank’s reserves nearly double and reach over 6.3 million yen.

17 April 1882 (Meiji 15) [id: DK040041k] ……… p. 440

The bank and Mitsui Bank (三井銀行) are put in charge of handling cash at the Disbursements Bureau (出納局) and the Osaka Branch of the Ministry of Finance (大蔵省).

30 May 1883 (Meiji 16) [id: DK040042k] ……… p. 446

By establishing the Bank of Japan (日本銀行), the government aimed to create a solid monetary conversion system. On 5 May, it issued an amendment to the National Bank Ordinance that stipulated that the operation period for national banks was to be 20 years from the date the business license had been issued. Banks were to use up their paper currencies within that period. To deal with this change, the bank proposed a method for banks to jointly use up their paper money and, on this day, the proposal is accepted by the government. Eiichi exerts himself greatly in this matter.

1883 (Meiji 16) [id: DK040043k] ……… p. 451

Previously, the bank set up branch offices in Sendai and four other locations to handle documentary bills for raw silk and rice. This year, it replaces the local office in Fukushima with a branch. The following year [1884], it establishes a local office in Akita and puts offices in charge of tax collection. After this, local offices and branches are established not just in the Tōhoku region but in the Hokuriku, Tōkai, and Kinki regions as well and efforts are made towards development. Later, from 1893 onwards, branches in the Tōhoku and Hokuriku regions are liquidated.

March 1887 (Meiji 20) [id: DK040044k] ……… p. 460

In addition to measures from 1883 onwards meant to develop business operations, the bank revises its bylaws this month and, by 1892 or 1893, takes steps to grow into a full-fledged financial institution including establishing and amending the articles of association, installing councilors, instituting conferences of branch heads from across the country, and taking on the business of payment bonds.

3 April 1887 (Meiji 20) [id: DK040045k] ……… p. 472

With the government’s exchange of paper money for specie in January 1886, the economy was lifted out of several years of recession and business flourishes until 1890. On this day, the bank holds an extraordinary general meeting of shareholders and decides to increase capital to 3 million yen. Subsequently, the bank experiences steady growth. Eiichi plays a leading role as bank president.

July 1890 (Meiji 23) [id: DK040046k] ……… p. 487

This year a rare panic hits the financial world and there is a period of recession that lasts until 1892 or 1893. Because of this state of affairs, the bank finds itself unable to finance the previously decided upon capital increase. This month it changes the face value of a share from 100 yen to 50 yen and divides 22.5 million yen of paid-in capital into 45,000 shares, treating both old and new shares as if they were already paid. Meanwhile, the bank’s recent business performance has been sluggish. Net profits decrease from 2.57 million yen in the first half of 1890 to 1.63 million yen in the second half of 1893. The dividend rate also falls from 18 percent to 12 percent. Eiichi devotes his energies to overcoming the economic panic and, as bank president, takes the lead in managing operations during this time.

12 September 1890 (Meiji 23) [id: DK040047k] ……… p. 498

Previously, it had become clear that the government’s approach to retiring the national banks’ banknotes had been miscalculated and discussion had arisen among the national banks on the question of postponing the deadline for phasing out banknotes. The bank agreed with postponing the deadline and Eiichi frequently made statements on this issue on behalf of the associated banks of the Tokyo Bankers’ Association (東京銀行集会所). On this day, he finally submits a proposal to Bank Bureau Director (銀行局長) Tajiri Inajirō (田尻稲次郎) for a five-year extension of the deadline to retire banknotes and meets with Minister of Finance (大蔵大臣) Matsukata Masayoshi (松方正義) to talk about the gist of the proposal.

23 October 1893 (Meiji 26) [id: DK040048k] ……… p. 498

Previously, on 22 July, due to Eiichi’s efforts, Vice Minister of Finance (大蔵次官) Tajiri (田尻) had unofficially submitted a proposal on how to retire the national banks’ banknotes. The national banks and the Bank of Japan (日本銀行) had been unable to reach a consensus on the proposal and failed to later come together on an additional draft plan. There was no option but for bankers across the country to cooperate and confer on how best to deal with the situation. In the Kantō region, they decided to organize a bank society to discuss the issue. On this day, the Kantō Ginkōkai (関東銀行会, Kanto Banking Society) is organized and Eiichi participates, representing the bank.

5 June 1894 (Meiji 27) [id: DK040049k] ……… p. 499

On the matter of extending the deadline for retiring banknotes issued by the national banks, bank associations in Kansai, Chūgoku, Shikoku, Kyūshū, and elsewhere advocated for an extension of the term of the banks. On this day, a negotiating committee from national banks across the country meets and decides on a ten-year extension plan. In the same month, a prospectus for extending the national banks is announced in the name of six groups of national banks from across the country. Although the bank does not agree to the extension plan, it nonetheless joins the others and participates as a member of an association of banks in the Kantō region. Eiichi is chosen to serve as a member of the petition committee and the prospectus drafting committee. He discharges his duty.

September 1894 (Meiji 27) [id: DK040050k] ……… p. 499

With the outbreak of war between China and Japan, Eiichi devotes himself to soliciting subscriptions to war bonds. He takes the lead by subscribing to 3 million yen-worth of bonds and the bank also buys 7 million yen-worth of bonds.

1894 (Meiji 27) [id: DK040051k] ……… p. 499

With the outbreak of war between China and Japan, the bank does its utmost to secure wartime financing. Not only does it subscribe to war bonds twice before and after this, but its Korean branches, in Seoul, Incheon, and Busan, also all become agencies of the Central Cash Office (中央金庫), engaged solely in transferring war funds. The bank’s business performance at this time is solid and its net profits rise from a little over 1.6 million yen for the second half of 1893 to 2.5 million yen for the second half of 1894. Eiichi is instrumental as bank president.

6 September 1895 (Meiji 28) [id: DK040052k] ……… p. 505

No decision had yet been reached on what to do after the expiration of the national banks. At this point, Eiichi, on behalf of the bank, proposed continuing operations even after the expiration date and called on all the national banks to agree. On this day, a letter under joint signature is submitted to the minister of finance (大蔵大臣) and he is urged to approve it. The Expiration of the National Banks Business Licenses Measures Bill finally passes the ninth session of the Imperial Diet in January 1896 and is promulgated in March.

17 May 1896 (Meiji 29) [id: DK040053k] ……… p. 509

With the promulgation of the Expiration of the National Banks Business Licenses Measures Law, the bank, which is set to terminate operations on 25 September of this year, holds an extraordinary general meeting of shareholders on this day and, in addition to doubling its capital, decides to continue to operate as Kabushiki Kaisha Dai-Ichi Ginkō (株式会社第一銀行, First Bank Ltd.) and adopt new articles of association. Eiichi presides over the proceedings as the chairman. Then, on 19 May, they apply to the minister of finance, by way of the Tokyo prefectural governor (東京府知事), for permission to continue operations. Permission is granted on 26 June.

19 July 1896 (Meiji 29) [id: DK040054k] ……… p. 529

A general meeting of shareholders is held and directors and auditors are elected for Kabushiki Kaisha Dai-Ichi Ginkō (株式会社第一銀行, First Bank Ltd.) in advance of the transfer of operations. Eiichi becomes the president.

26 September 1896 (Meiji 29) [id: DK040055k] ……… p. 538

On this day, the bank is renamed Kabushiki Kaisha Dai-Ichi Ginkō (株式会社第一銀行, First Bank Ltd.) and opens for business, taking over the rights and obligations of the Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank). Thus, on 17 October, Eiichi hosts a garden party at his Ōji villa and announces the continued operation of the bank.

24 January 1897 (Meiji 30) [id: DK040056k] ……… p. 544

A general meeting of shareholders is held and it is decided to make reserve fund deposits every half-year for the purpose of constructing a new head office building. Eiichi attends the meeting and reports on important matters to attend to following the re-assumption of business as well as business performance for the second half of the previous year (1896). From the latter part of that term, the financial world began gradually reacting to the end of the Sino-Japanese War and showing signs of monetary austerity. Last October, in Osaka, when the Ōsaka Dōmei Ginkō (大阪同盟銀行, Osaka Bankers’ Association) had tried to help with the Itsumi Ginkō (逸見銀行, Itsumi Bank) crisis, the bank’s Osaka branch refused to join the effort, saying the amount required for relief would be ten times as much as budgeted. Thus, a problem arose as the branch was kicked out of the Ōsaka Dōmei.

24 July 1898 (Meiji 31) [id: DK040057k] ……… p. 555

Despite further reactionary revisions in the economic world and even greater financial stagnation, Kabushiki Kaisha Dai-Ichi Ginkō (株式会社第一銀行, First Bank Ltd.) has steadily made improvements and expanded its business. On this day, a general meeting of shareholders is held and decisions are made about changes in the articles of association for, among other things, the opening of local offices in Hyōgo and Fushimi, as well as about the budget for the construction of a new head office building. Eiichi presides over the proceedings as chairman.

12 April 1899 (Meiji 32) [id: DK040058k] ……… p. 560

For five days from this day, a conference of branch heads is held at the head office and discusses important administrative matters accompanying the implementation of the amended Commercial Law and other topics.

23 July 1899 (Meiji 32) [id: DK040059k] ……… p. 562

The post-boom recession that hit the business world has finally begun to lift and the bank’s foundations as a private sector bank have steadily been strengthened. A general meeting of shareholders is held on this day and decisions are made on the matters of increasing capital by 5 million yen, opening a branch in Shin’ōsaka-machi in the city of Tokyo, and changing the articles of association in accordance with the implementation of the amended Commercial Law. Eiichi presides over the proceedings as chairman.

12 April 1900 (Meiji 33) [id: DK040060k] ……… p. 573

The financial world has been affected by the outflow of specie due to an excess of imports and become deeply anxious. Due to this, a conference of branch heads is held at the head office from April 9. On this day, Eiichi consults on financial conditions and business policy.
A financial panic starts at the end of this year. The bank is cautious in its financial management even into the first half of the following year [1901] and thus performs favorably.

15 May 1900 (Meiji 33) [id: DK040061k] ……… p. 594

On 10 May, Eiichi was made a baron and on this day a group of loyal employees of Dai-Ichi Ginko (第一銀行) present him with a congratulatory set of flower vases.

26 February 1901 (Meiji 34) [id: DK040062k] ……… p. 602

On this day, a roof-laying ceremony is held as part of the construction of the new head office building. Eiichi attends and delivers a speech.

13 June 1901 (Meiji 34) [id: DK040063k] ……… p. 603

Previously, in May, Eiichi had moved to his new residence in Ōji. Having asked for and received permission from Eiichi, the bank rents the second floor of his old residence in Kabuto-chō to establish a study program for young employees. On this day, Eiichi visits and offers instruction. The bank also sets up a club using vacant rooms in the same building. An opening ceremony is held on 2 September.

3 April 1902 (Meiji 35) [id: DK040064k] ……… p. 605

The new head office building is formally revealed and an unveiling ceremony is held for a bronze statue of Eiichi erected in the courtyard. Manager Sasaki Yūnosuke (佐々木勇之助) gives a congratulatory speech. Eiichi makes an address in reply and gives a speech with advice to all bank employees present.

24 April 1902 (Meiji 35) [id: DK040065k] ……… p. 608

From 15 April, a conference of branch heads is held at the head office. On this day, Eiichi attends and gives a warning concerning bank operations.

24 January 1903 (Meiji 36) [id: DK040066k] ……… p. 617

A general meeting of shareholders is held and decisions are made about the opening of branches and local offices in Korea and about revisions to the articles of association concerning calculation of profits and losses. Eiichi attends and reports on the conditions of banks in Europe and the United States that he visited the previous year.

27 July 1903 (Meiji 36) [id: DK040067k] ……… p. 620

In preparation for the holding of a general meeting of shareholders on this day, it had been decided to change conventional practices and inform shareholders in advance of the balance sheet, profit and loss statement, dividends, and other figures.

28 January 1905 (Meiji 38) [id: DK040068k] ……… p. 630

Since the outbreak of the Russo-Japanese War, the bank has shown remarkable improvement in various areas and its business in Korea has expanded a great deal. A general meeting of shareholders held on this day thus decides to increase the bank’s capital by 5 million yen to 10 million yen. Eiichi attends and presides over the meeting.

20 May 1905 (Meiji 38) [id: DK040069k] ……… p. 635

An extraordinary meeting of shareholders is held and decisions are made on the matter of closing and establishing new branches and local offices and on the matter of revising the articles of association in accord with Imperial Ordinance No. 73, which was issued in March of this year and is related to the bank’s business in Korea. Eiichi presides over the meeting as chairman.

1906 (Meiji 39) [id: DK040070k] ……… p. 647

Business in Japan flourishes this year following the resumption of peace between Russia and Japan, but the following year [1907], a reaction to the boom ensues and creates a crisis. After this, financial circles are pushed into a period of decline. During this time, due to sound management, the bank increases its profits every term. Eiichi is instrumental in this as bank president.