How Did The Currency Affect The History Of Japan
There were several events happened in the history of Japan that significantly affected the value of Japanese currency and the monetary management system. To start with, the Meiji government, which was the early government of the Empire Japan, initially used gold, silver and copper coins in circulation for its currency system during the Edo period. In 1871, the government introduced the new currency unit “Yen”, “Sen” and “Rin” based on the decimal system with the enhancement of New Currency Act, in addition, gold standard system was adopted (1.5 gram of gold = 1 Yen) and the government started to issue the paper money, however, because of the lack of gold and silver, those notes issued by the government were unconvertible to gold or silver.
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