The purpose of this paper is to clarify how the horse-breeding industry was changed by inter-war policy concerning the maintenance of military horses, particularly noting the desire of farmers carrying out horse breeding as a secondary activity to improve their income. Through analysis of data for the Tohoku region, the main horse-breeding area in Japan, this study makes clear the following three points. 1) In the 1920s, farmers chose to breed farm horses instead of military horses. As the demand for military horses decreased with armaments reduction after World War One, the risk of breeding those horses increased. Consequently, farmers attempted to stabilize their income by breeding farm horses, which were sold at a lower price but for which there was a large market. Nevertheless, these attempts were not successful as the maintenance of stallions for breeding was difficult both institutionally and economically, leading some to suspend horse breeding entirely. Such farmers increased the use of their mares in their own farming, offsetting the idle horse-breeding section. 2) In the 1930s, farmers were terribly weakened by the Showa depression and disastrously cold weather. Consequently, they requested the Ministry of Agriculture to cover a part of their breeding expenses to reduce the risk inherent in the horse-breeding business. The Ministry recognized the situation as a military and industrial crisis, and immediately enacted relief policies for farmers. These policies succeeded in increasing their motivation for horse breeding, but such temporary subsidies could not fundamentally improve their economic situation. 3) Further to the above point, farmers also requested the Army to increase purchases of military horses in the colt market, expecting this to raise the price of horses and increase farmers' incomes. However, the Army purchased mainly older horses for immediate use in Manchuria, as a result of which the desired outcome was not achieved.

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