The purpose of this paper is to make clear the historical significance of "Agrarian Reorganization Movement" and the ruling structure of the village during the said period. Now, why and how peasants were mobilized to this movement is an important subject to be explicated. This paper is analysed from two points of view, studying the case of Ojima-mura in Nagano Prefecture. Firstly, it is to pursue the relation between the growth of the small-scale commercial production by peasants and "Agrarian Reorganization Movement"; and secondly, it is to focus on the role of the smallest administrative organization (Jichi-Kumiai) in the village. As regards the first point, through the development of "Agrarian Reorganization Movement", the small-scale commercial production by peasants was grown up systematically. In particular the fruit culture expanded rapidly, thus agricultural structure of the village was drastically changed. Consequentially peasants voluntarily perticipated in this movement. Concerning about the second point, in the process of "Agrarian Reorganization Movement", Jichi-Kumiai had a large influence on the village. Jichi-Kumiai functioned as the foundation of the ruling structure of the village. The success of masses mobilization to this movement depended on the function of Jichi-Kumiai.

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This paper aims to analyze the machine industry in the latter part of the Meiji era. The Internal-combustion engine was the typical product of medium and smaller ironworks. In about 1894, gas-engines and oil-engines were actually begun to be used among the people in Japan. Soon afterward the production of gas and oil engines started, and the products were the imitation of imports. The manufacturers were not engineers but skilled craftsmen. After the Russo-Japanese War, decrease in military demands and depression of the ship-building industry caused unemployment of many craftsmen in the big businesses. Many of them found work in medium and smaller ironworks. These new small ironworks factories increased in number. They had lost their former customers, such as the military and shipyards, and thus they had to get new civilian demands. The small internal-combustion engine was a suitable product for them. Their production and sales was very active. These engines were fairly cheap compared to imports, because of the low wages for the craftsmen. Because of this the motorization of rice cleaning, weaving, and fishing boats was hastened. During this period, the internal-combustion engine kept the leading role of mechanization in the country, because the supplied area of electricity was still narrow. Afer 1907, most of the small internal-combustion engines were homeade but the larger ones (mostly suction-gas engines) were still imported. Furthermore the bigger ironworks began to produce new types of engines and large ones under the lead of engineers. Some of them even started interchangeable manufacture under the lead of American engineers. However, this system aimed for high quality and thus the price of manufacture was high. But, it was the many smaller makers, whose products had low-price, who continued to keep the greater part of the internal-combustion engine industry.

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The purpose of this paper is to investigate how the leaders of British joint-stock banks considered the industrial depression and what remedy they recommended from the point of view of. finance, so that we can understand the real meaning of the new policies pursued after the suspension of the gold standard in 1931. The orthodox view of the City, which was announced by F. C. Goodenough, was that since the main cause of trade depression in the 1920s was the loss of competitiveness of British industries, its remedy consisted in the reduction of production costs through the re-organization of British industries, "rationalization". He insisted that London money market contributed to the prosperity of British industry in the sense that it supplied them with short-term working capital and it facilitated overseas investments which provided domestic industries with market for manufactured goods. Therefore, the traditional structure of the London money market should be preserved as it was, and the principles of the Bank Charter Act of 1844 were to be maintained. On the other hand, even in the City, there was "progressive" view that the expansion of domestic credit was indispensable for the recovery of British industries and that the present structure of the City, which was in favor of overseas banking businesses, should be reformed. For example, R. McKenna insisted that the Bank Charter Act of 1844 should be abolished and the Bank of England should be operated in line with the principles of proportional reserve system as the Federal Reserve System in the United States. Although this view was in the minority in the City, Labour Party accepted it. Prior to the General Election in 1929 Labours committed themselves to the banking inquiry in order to investigate the relationship between finance and industry. Consequently, this "progressive" view was materialized as the Macmillan Committee under the Second Labour Government. In the course of 1929's crisis, there appeared the discussion on the causes of the fall of world commodity prices. Some thought that the collapse of commodity prices was due to the over-production of primary products, others attributed it to the mal-distribution of monetary gold. According to the latter diagnosis, which was held by McKenna, we can tackle the depression by monetary policies such as cheap money policy, which became the strategy for economic recovery in 1930s' Britain. It is because there existed the "progressive" view in the City that the bankers calmly dealt with the suspension of the gold standard in 1931.

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