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SOURCE ROOM

Who issues banknotes?

Bank of Japan (Tell me! Nichigin)

Claims Supported by This Source

  1. The Bank of Japan has the exclusive right to issue banknotes based on Article 46 of the Bank of Japan Act.
  2. 1868: Government notes. 1871: The "yen" is established by the New Currency Act. 1872: National Bank System (153 banks by 1879).
  3. The over-issuance of banknotes to finance the Satsuma Rebellion (1877) caused inflation.
  4. 1882: Bank of Japan established. May 1885: First Bank of Japan note (old 10-yen note).

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