The export of silk to U.S. surpassed that to France in mid 1880s. While that to France was composed of the greater part of traditional silk, the most of which were Hanks, and of extra Filatures, that to U.S. was composed of Filatures, main part of which was Shinshu, and of Re-reels of Joshu etc. from the first, and in that to U.S. Filatures overwhelmed Re-reels gradually. Therefore, as the background of growth of that to U.S. there was the capitalistic reconstruction process of the sericulture, where sericulture-Hanks silk reeling combination was brought up and sericulturists came to concentrate on the supply of cocoon as the material of Filatures. The pivots of this reconstruction process were, 1) the formation of the objective condition of the reduction of Europe market and the expansion of U.S. market after the French panic of 1882, 2) the conversion into supply of cocoon in sericulture-traditional silk reeling management meeting this condition, say, the transformation of structure of market and the industrial-organizational reconstruction meeting it. And the fall of international silver quotation as the exogenous condition smoothed this process. Then, this process had two stages; the first stage was 1882-1884, which was marked by the formation of the objective condition; the second stage was 1885-1886, which was marked by the full-scale reconstruction. This paper analyzes this reconstruction process concretely along these stages.

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The past research on Japanese Firm deployed into the Colonial Korea mainly analyzed the case of Japanese Nitrogenous Fertilizer Company. This Company made inroad into the Korea in the latter half of the 1920s and made the lead of industrialization in the 1930s. These past researches said that the structure is "the Colonial Employment Structure" in which Japanese is Senior Worker and Korean is Lower One: in addition this structure was formed early during the Colonial period and was not destroyed until the end. But the latest alternate research was paying attention to the Korean Worker's change of the quantity and the quality, although these research recognized also that "the Colonial Employment Structure" was not destroyed at the end of the Colonial period. And there also exist another research paper studying the same case of this paper, which threw light on the transition of Employment Structure. That paper it had affected the outskirts, and said also that the Korean Workers had grown up. But a concept of analysis which is the latest research is still "Nation" and "Class". Therefore in this paper we will pay attention to the Firm based on the strategy of managemant rationalization, and the Korean Workers who aim to be economically and socially independent of a rural community and want to become "Individuality". The literature about the relations between labor and capital in Japan are very helpful for this study. Through this case study, the followings are found. The Manager adapted himself to the changing environment of the labor force market. He took a new hiring policy, which is to train the Korean Workers as well as the Japanese Workers and substitute the Japanese Skilled Workers whose wage were higher with them and that policy is an economic sense rational. The Korean Workers actively coped with the Incentive System while he was training. They transformed into a wage worker and was fixed to a skilled worker, While they didn't become a middle-class administrator due to the consciousness of a nationality discrimination of the Japanese Manager. In conclusion, the Korean Workers deserted a rural community and they were employed as a seller of a labor force by the Japanese Manager as a purchaser through "a Contract" in the 1920s and the 1930s. Then they could realize a economical and social independence as "Individuality" while they gradually freed from what is a Traditional Work-Custom and Work-View and they mastered the skill.

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According to the embodied-labour theory of value, only conditions of production determine the magnitude of value, but not demand and supply. On the contrary, market price is determined by fluctuations in demand and supply. Fluctuations in the market price cause movement of labour among sectors, and adjust social allocation of labour. However, the fluctuation of market price produces an appearance that demand and supply determine the magnitude of value, and that when demand is great, the magnitude of value is great. In other words, it produces an appearance that not the quantity of labour embodied in one commodity, but the quantity of labour embodied in another commodity which is exchanged with it, that is to say, the quantity of commanded-labour determines the magnitude of value. The appearance of value of commanded-labour which market price produces, apparently, contradicts the embodied-labour theory of value. Therefore, without resolving this contradiction, adjustment of social allocation of labour which is undertaken by the market price is not placed consistently in the system of the embodied-labour theory of value, that is to say in economic theory, and it is excluded from the system. On the other hand, if we can resolve this, the adjustment function of market price is placed consistently in the system. We can resolve this contradiction, when we move from the point of view of individual commodity producers to one of social reproduction. From the former, a commodity seems to have value of commanded-labour as well as value of embodied-labour. And this is not only a mere appearance but also a fact. But from the latter, the substance of the total social value of the whole mass of commodities is the total embodied-labour and nothing else. However, no light have been thrown upon the determination of the total social value of the whole mass of commodities in the time when demand and supply are not equal. And it is not obvious. In this article, we will throw new light upon the determination of the total social value of one kind of commodity in the time when demand and supply are unequal. We will make clear, as the aggregate of them, the determination of the total social value of the whole mass of commodities. Thus we resolve the contradiction between the appearance produced by market price and the embodied-labour theory of value, and place consistently the adjustment function of market price in the theory.

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This article reconsiders British monetary policy between the Wars, in particular before and after the Return to Gold, and attempts to criticise traditional ideas about the gold standard and to show what the appearance of exchange operations suggests. The final aim of this study is to confirm the significant position of the interwar period in the history of capitalism. The achievement of the aim would help us to understand the capitalism after the world war II. When we inspect the changes in British monetary system after the world war I, we notice that the Return was not a simple return to the gold standard. The Gold Standard Act, 1925 abolished the gold coin standard. The amount of the circulation was not relative to the gold reserve not only in the period before the Return but also in the period after the Return. And there was little change in Bank Rate operations at that time. Nevertheless the exchange rate after the Return was more stable. Here we should direct our attention to the existence of exchange operations. The Bank of England started operations in foreign exchange market after the Return and kept on during the reconstructed gold standard period. The existence of exchange operations means that the reconstructed gold standard could not support the exchange rate by itself, and that on the contrary exchange operations supported the gold standard. This inverted situation suggests that it is not the presence of the convertibility but the exchange adjustment that is a essential problem to the stabilization of the monetary system.

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