17-1800's Feudal Japan, Edo Period - 5 Silver Monme Hansatsu Clan Note

Composition

Paper

Grade

Ungraded

Certification

Uncertified

During the Edo period, feudal domains of Japan issued scrip called hansatsu (clan note) for use within the domain. This paper currency supplemented the coinage of the Tokugawa shogunate. Most scrip carried a face value in silver coinage, but gold and copper scrip also circulated. In addition, some scrip was marked for exchange in kind for a commodity such as rice. In addition to those issued by the domains, forms of paper money were also issued by rice brokers in Osaka and Edo. The shogunate prohibited the use of scrip in 1707. In 1730, however, Tokugawa Yoshimune authorized domains to issue paper with time limits for redemption. Large domains could issue currency valid for 25 years, and small domains for 15 years. His son Ieshige prohibited new issue of scrip, and restricted the circulation of scrip other than that exchangeable for silver, in 1759. Despite the prohibitions, domains in severe financial straits occasionally issued paper money. Each domain formulated its own rules about its scrip. While there were some that forbade the shogunate's coinage, many allowed both coins and scrip to circulate. As a rule, scrip circulated only within the domain that issued it, but there were exceptions. For example, paper issued by the Kish? domain in 1866 was also used in Yamato, Izumi, Kawachi, Settsu, and Harima Provinces. In 1871, the Government of Meiji Japan ordered the abolition of the han system and ordered the exchange of all scrip for the national currency. Exchange continued until 1879. In the interim, some scrip carried markings from the central government indicating the value in yen and the smaller sen and rin.