The purpose of this paper is to show how the "Rokken" (pension bond) policy dependent upon the foreign loan was proposed and decided informally to be introduced, and how the loan was designed to be floated in America, to abolish the hereditary stipend, which has not yet been fully considered. The conclusions of this study are as follows. 1. The design of abolishing the hereditary stipend by the "Rokken" policy had already become a dominant opinion among the officials of the Ministry of Finance before "Haihan-Chiken" (the abolition of feudal clans and the establishment of prefectures). After that the necessity grew pressing to put the "Rokken" policy into practice for the completion of "Hai-han-Chiken", but the "Rokken" policy could not be easily carried out right away because of the 'dispute' over what was to be done first concerning "Shizoku" (pre-Samurai). But the situation was changed then the Iwakura mission was planned. In other words, the "Rokken" policy wasto be put into practice as one of the most important policies when it was finally decided for T. Okubo to join the mission mainly by getting Inoue's approval of it through the realization of one of his requests, viz. T. Saigo's promise to co-operate with such officials as K. Inoue, S. Okuma for the completion of "Haihan-Chiken". 2. Inoue and Okuma tried to avoid the deliberation of "Sain" (左院, a kind of legislative organization) and preferred to that of "Uin" (右院, an annual meeting of ministers) so as to get the approval of the "Rokken" policy by "Seiin "(正院, a kernel of government), and offered Saigo the replenishment of police by Kagoshima-Shizoku to maintain his support. Without this offer in addition to his promise, Saigo would not have approved such a severe policy, which is cleared by the newly discovered materials. 3. At first Inoue and K. Yoshida planned to float a new external loan in America to avoid the bad influence by the former external loan the documents of which were prepared by H. N. Lay and treated as notarial deed in spite of its being fraudulent. At the same time they had a strong criticism against the former loan because it had very inferior conditions. 4. After all Yoshida made up his mind to visit Europe to float a new loan because in these days America had not the adequate market for the capital-export in the form of foreign loan and was confronted with the stringency of money. He did so before the publication of A. Mori's objection, according to the proposal of Shiff in Frankfurt introduced by DeLong.

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London Jewry had approximately eight thousands populations about 1750. They became a minority group who occupied 0.1 percent of total population. In those days, under the shades of upper class Jews' brilliant foreign trade activities, london Jewry was in three Large fetters. The first one was seceding trends of wealthy Jews from the existing congregations which was brought about as a result of house-moving tendencies of upper and upper middle class Jews from the East End's old Jewry to surburban areas. In consequences of their house-moving and secessions, opportunities of lower class Jews' employment for their household servants and their relief toward the lowest class Jews have diminished before never. The seond one was beginning of continual influx of poor Ashkenazic immigrants. Between 1750 and 1815, about eight-thousands or ten-thousands poor Ashkenazic immigrants came from the European Continent, especially from Germany. The third one was circumstance which excluded virtually Orthodox Jews from English poor law system and apprenticeship. The above-mentioned three shackles effected mutually, which brought about "Problems of Ashkenazic Paupers" at the end of the 18th century. It was necessary for London Jewry to overcome the "Problems of Paupers" swiftly, because security of London Jewry depended mainly upon the friendly relations with the Government, municipal authorities, and with regional inhabitants. So as to solute the "Problems of Paupers", firstly authorities of London Jewish congregations in co-operation with the Government and with nunicipal authorities, carried out the obstructive policy against poor Ashkenazic inflow and their repatriations. But, the policy cannot obtain realistic effectiveness in spite of its aim. Still more, authorities of London Jewish congregations found a vocational school for Jewish youth of pauper class who were practically excluded from apparenticeship. As for independent endeavour on the parts of the poor Jews, they began peddling activities for the provinces. They went to the prosperous centers at each era, namely to naval and seaports towns in the later-eighteenth century and to industrial towns in the early-nineteenth century. In these provincial towns, they rose relatively short term from vagabond peddlers to settling retailers, further some of them rose to wholesellers and to manufacturers, and in tows where they settled, they found many provincial Jewries. Constractions of provincial Jewries were the most important counter measure on the part of Jews to solute for the "Problems of Ashkenazic Paupers" in London.

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In the analysis of the particular commercial firm like company, bank and so forth, it is necessary to use the first hand documents such as account books or diaries, so that we can penetrate into their real activity or inner structure in their totalty. Such way of analysis has been frequently used in the cases in Japanese and Western economic history. This is also true with cases of Chinese economic history. This paper tries to show the activities of the Sheng-Tai Hao (生泰号) Company in Nagasaki, by way of the author's detailed research into the account books it possessed, in the hope of filling the gap which has been studied so little. The founder of the Sheng-Tai Hao was a merchant who lived in the last days of the late Ch'ing period and came over to Nagasaki from Fu-chou of Fu-Kien province. Nagasaki has been a sole trading port opened for the sea-trade between China and Japan since the early Tokugawa era. With the opening of that port as one of treaty-ports in 1858, the Chinese merchants had to dwell in the quarters assigned as foreign residence, at that time, the Sheng-Tai Hao establishd its firm im Shinchi-cho within that quarters and remained to stay there until 1948. After the Second World War it changed its business and became a Chinese restaurant. The Sheng-Tai Hao was a firm owned and operated by the Chen family, slong with their relatives and the persons recruited from their hometowns who amounted to about twenty members in all. The Sheng-Tai Hao was a whole-sale dealer, dealing the import of goods from China such as silk, furniture, writing brush, cosmetics, etc. and export of marine-products. In addition, it dealt retail business only partially (about 20% in the sales). The sphere of its business spread very extensively; from Kyushu to Tokyo, Shang-hai, Taiwan, Korea, having had about 970 customers at its heyday. Its gross annual sales of about 90,000 yen plus annual profits of about 20,000 yen which could be ranked as a middle scale firm among the Chinese companies therein. Only a part of the books possessed originally by the Sheng-Tai Hao, nevertheless, the eighteen different kinds of books extant which compose a series of documents ranging from daily records to ledgers of the main and the subsidiary books, are of particular importance. Generally, the Sheng-Tai Hao books could be defined as those compiled by the single entry book keeping method. Its mode of book keeping also could be grouped into such localized one as that prevailed in Amoy area in Southern Fukien. It should be noted that it was kept without any influence from western double entry book keeping technique. The books can be devided into two kinds in size: the larger one, 24 cm by 18.5 cm, and the smaller one, 15 cm by 22 cm. Every entry was writtern by Chinese brush and by use of Shuchou numerals. A line in the midde divides the space into two parts, the upper shows Debtor and the under shows Creditor. All in all, this management and book keeping method should be regarded as a typical example of the old-style Chinese trading companies.

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