Ports have played an important role in trade as part of the modernization process following the Meiji restoration. However, little research has been conducted on how local politics and private capital interact in port construction. This paper therefore focuses on Wakayama Port in order to study this interaction process.
In Wakayama Port (Aogishi Port), the deposition of sands was a major problem, and users have been requesting improvements since the Meiji era. Furthermore, speculation from political parties and sources of private capital actively promoted alternative port construction plans for Aogishi Port. In such developments, there was much to gain in terms of influence and profit. The Nankai Railway was affiliated with the non-Seiyuukai group of the Wakayama City Council and promoted the Oura Port construction in the Taisho era. On the other hand, the Keihan Electric Railway supported the Seiyuukai political party, who proposed the Kemi Port construction. In 1922, the Wakayama Chikkou Kiseikai was formed to solve the port construction problems. However, because of political and capital conflict within the organization, neither the Oura nor the Kemi projects were completed.
The Aogishi Port construction, which accompanied the Kinokawa repair work, was decided in the latter half of the 1920s. However, the problem of subsidizing the construction was prolonged, and Wakayama Prefecture, which had a shortage of funds due to the recession, planned to inject private capital. The governor of the Minseitou political party demanded the participation of the Nankai Railway, which had supported Minseitou. On the other hand, to protect the Hanwa Electric Railway, which the Keihan Electric Railway had helped capitalize, the Seiyuukai opposed Minseitou's plans. In the end, the participation of the Nankai Railway was approved, and the Wakayama Port construction work was started in March 1932.
However, after the work had begun, it soon faced financial difficulties. The lack of funds for restoration work after the Muroto typhoon struck in September 1934 was a major problem. Moreover, after the 1930s, regional development was promoted by city planning and the readjustment of town lots which had an impact on port construction work. In addition, the Sumitomo Metal Industries factory, which manufactured munitions, was attracted by Wakayama Prefecture in 1940. The capital dependence on the Nankai Railway became strong due to economic rather than political reasons because these plans were not negatively affected, and the Nankai Railway again donated additional contributions.
As mentioned above, Wakayama Port construction was always controlled by the logic of the region. Furthermore, it was achieved by the initiative of the Minseitou, which afterwards largely relied on capital help for port construction work from the Nankai Railway. That is, the Nankai Railway played not only the role of main user of Wakayama Port but also that of its main investor.
