Consolidation of Regional Banks and their Party-Problem in Interwarperiod Japan : The Case Study of Fukushima Prefecture

Abstract

The purpose of this article is to analyse the process of the consolidation of reginal banks in Fukushima prefecture in the interwarperiod from the point of view of their party problem. As the premise of the analysis of bank's party problem, the economic development of Nakadori region in World War I period is analysed. In paticular, Asaka and Shintatsu's economic developments were conspicuous. The development of Asaka owed to the advances of capitals from outside Fukushima. In contrast, that of Shintatsu owed to silk-related industries such as silk and "Habutae". According to the difference of developments of both regions, the enterprisers had defferent characters. Man-uemon HASHIMOYO, who was the chief enterpriser of Asaka, was strongly associated with capitals from outside Fukushima through electricity-generation, and belonged to Kenseikai-party. Syutaro YOSHINO, who was the chief enterpriser of Shintatsu, was strongly associated with silk and "Habutae". He belonged to Seiyukai-party, because it carried out the policy of consolidation of silk factories. Because of the struggle for the right to use Asaka-sosui, prefectural office's the relocation, and the different ideas about fiscal policy by these parties, the policy of consolidation of banks failed in the 1920s. However, owing to reconciliation of both parties through the Syowa-crises, and the crushs of big banks of both parties, non-political Koriyama-syogyo bank emerged as the core of the consolidation. And the Toho bank was born in 1941.