JAPAN

Banknote

"Minbushō-satsu"

2 Fun

(1869-1870)

🐉 Minbushō-satsu were government-issued paper notes (inconvertible banknotes) issued by the Ministry of Popular Affairs (Minbushō) from November 15, 1869 (Meiji 2) through the following year. They served as a supplement to the Dajōkan-satsu issued by the Grand Council of State (Dajōkan).

🐉 After the establishment of the Meiji government, Dajōkan-satsu (gold notes) in five denominations (10 Ryō, 5 Ryō, 1 Ryō, 1 Bu, and 1 Shu) were issued to replace the currency of the former Edo shogunate. 

🐉 However, since the issuance was focused primarily on high-denomination notes, with very few 1 Bu and 1 Shu notes put into circulation, they failed to meet the needs of the general public. To address this, the Ministry of Popular Affairs issued four types of notes—2 Bu, 1 Bu, 2 Shu, and 1 Shu—with a total value equivalent to 7.5 million Ryō. These were the Minbushō-satsu.

🐉 One Minbushō-satsu Ryō could be exchanged for one Dajōkan-satsu Ryō. However, since they were regarded only as a temporary measure until the introduction of new paper currency, their circulation period was limited to five years.

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