Saturday, December 4, 2010

1860 Business Report: Currency Exchanges

Japanese Money-Business.

Pacific Commercial Advertiser (Supplement), Honolulu.

Thursday, January 19, 1860.

It was almost impossible to get money changed by the Government for Japanese currency. They would only exchange $50 per day for each $1000 offered; and as the Japanese merchants would not receive any coin except Japanese, it was almost impossible to do any business for a week before the Onward sailed. Business at Nagasaki had entirely stopped on this account.

Lacquered goods had risen 200 percent, and were very scarce. A great many vessels were lying at Kanagawa, doing nothing; a few were loading for China, with seaweed, fish, etc. Government seemed determined to throw every obstacle possible in the way of trade, and a few days before the Onward left, an order was issued that no merchant should sell over fifteen piculs of any article per day.

The Onward had fortunately purchased her cargo before these restrictions were imposed, or she would have been obliged to leave in ballast.

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