Study On The Onogumi In Meiji Era

In the late Edo era, with the development of commodity economy, the Japanesemerchant force has continued to grow. Especially the privileged merchants, relied onprivileges from the Bakuhu, they gradually controlled the national economy. During theToubatsu Movement, part of the merchants supported the Meiji government, this thingsaccelerated the extinction of Bakuhu. Merchants even played a important role in thesubsequense economic modernization movement, and made a great contribution for themodernization of national economy.In the course of this historical development, privileged merchants group-Onogumican be described as typical. In the Edo period, Onogumi has many privileges of businessoperations, such as financial exchange of government, monopoly of raw silk, etc. Dependon these privileges, Onogumi’s strength rised rapidly. To Toubatsu Movement, Onogumihas occupied a pivotal position in Japan.In the Toubatsu Movement, the Meiji governments’ financial condition wasextremely tensed, unable to solve war fund problems. Onogumi offered large sums ofmoney, buying national debt-"Accounting Fund", to give the government a huge amountof financial assistance, at the same time, it used its own reputation as a guarantees tofund-raising from other traders. Onogumi’s leaders has also participated in CommercialDivision and Trade Division officials to help the government management of financialaffairs. In short, the Onogumi made a great contribution to overthrow the Bakuhu rule,and to consolidate the Meiji regime.After the Meiji Restoration, Onogumi became to be the Meiji government’s privilegemerchants. Onogumi was been gived a large numbers of economic privileges from thegovernment, including using public funds without paying interest, collecting tribute riceand managing the National Bank, Onogumi was also the first one to createmachine-made silk factories, its copper trade also gradually expanding. Thus, by1873,Onogumi has became to be a giant which was equal with Mitsui.For operating convenience needs, Onogumi planed to transfered census register toTokyo. This request was flatly refused by Kyoto government. Both sides argued, situation became escalated. At the time, the Meiji government has serious internalpolitical struggle, Sacchyo oligarchy monopolied the government power, subjected toanti-Sacchyo faction’s strongly criticism. This event was used by anti-Sacchyo faction tobe a tool to attack the Sacchyo oligarchy. Onogumi involved in this internal powerstruggle among the government.After the transfere census register events, Onogumi had a contradiction between theSacchyo oligarchy. In1874, after the clearation of opposition, the Sacchyo oligarchywhich controlled government power released a new law, it cancelled parts of theprivilege of merchants. This thing lead Onogumi to a eventual bankruptcy.The bankruptcy of Onogumi rooted in political change, privilege merchantssubjected to the government. In this paper, Onogumi was set as the research object, byresearching for Onogumi, to explore the merchants’ role and the relationship betweengovernment and merchants in the process of modernization of Japan.