Japan has long decided to take the gold standard route. After the Sino-Japanese War of 1894-1895, Japan, which received reparations, began to follow the gold standard.

Japan used the reparations of the Sino-Japanese War of 1894-1895 to carry out currency reform and establish the gold standard. Since the 65438+1970s, countries such as Europe and the United States have adopted the gold standard one after another, and the price of silver has been falling continuously, which led to the devaluation of the currencies of the countries with the silver standard and the instability of the exchange rate, which was also a major reason for the decline of the two "silver empires" at that time-China and India. Therefore, Japan also wants to establish a gold standard, but it has not been able to do so because of insufficient funds. The Sino-Japanese War indemnity solved the financial problem in one fell swoop and laid the financial foundation for Japan to establish the gold standard system. Kazuo Terajima, a Japanese scholar, said in On Japan's Monetary System that the gold standard is "a part of Japanese capitalism and a financial symbol of competing with other powers for the world market".

The monetary system in the edo period in Japan was a double standard of gold and silver. After the founding of the People's Republic of China, gold coins flowed out and Mexican silver dollars (eagle ocean) flowed in. What it does is the silver standard system, which is a metamorphic monetary system based on foreign currency eagle ocean. 187 1 year, Meiji ZF formulated the "New Currency Regulations", which stipulated that the gold standard system should be adopted, but it could not be realized, so it had to continue to communicate with backward countries such as India, a British colony, and Mexico, a Spanish colony for 300 years. Due to the sharp drop in the price of silver, the world situation is becoming increasingly clear in the direction of the gold standard. In June 1893, Japan set up a currency investigation meeting, which was headed by a member of the House of Lords and Lieutenant General Tengoku, including senior officials of ZF, professors of Imperial University, parliamentarians and representatives of chaebol, to study and discuss the currency reform. Results There were serious differences among the members of the investigation committee on whether to adopt the gold standard or maintain the silver standard. According to calculations, to implement the gold standard, there must be a gold reserve of 200 million yen. Even lawmakers who advocate the gold standard are afraid of this astronomical figure. They believe that the gold standard should be implemented, but it may not be implemented immediately, and the amount of "gold preparation" should be made up.

After the fiasco of the Sino-Japanese War of 1894-1895, China was forced to sign "treaty of shimonoseki" and ceded Taiwan Province Province at a staggering price.

After Japan received a huge indemnity of 364.86 million yen, the gold reserve problem was solved in one fell swoop. The battle for gold and silver ended immediately. 1897 In March, ZF formulated a new monetary law and established the gold standard system, which was implemented on June 10 of the same year.