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10 Ryō Dajōkan-satsu
| Issuer | Dajōkan (Grand Council of State) |
|---|---|
| Year | 1868-1869 |
| Type | Standard circulation banknote |
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| Obverse description | Letterpress in black with red overstamps; the upper register presents the vertical denomination within a scrollwork frame incorporating Chrysanthemum Seals and five-seven Paulownia Seals, while the lower register carries vertical inscriptions enclosed within a frame of two dragons. A circular red stamped seal is applied over the denomination panel. |
|---|---|
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| Reverse lettering | 慶應戊辰發行 元締 通用十三年限 (Translation: Keiō [year] tsujinoe-tatsu (Year of the Earth-Dragon) issue Motojime Circulation Thirteen years limit) |
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| Comments |
The Dajōkan-satsu were emergency government notes issued by the newly installed Meiji administration to finance the Boshin War — the civil conflict that ended Tokugawa rule. The regime had almost no specie reserves and no established central bank, so these notes were essentially issued on the authority of a government that had not yet consolidated control over the country it claimed to lead.
Redemption was promised in gold or silver, a guarantee the new government was in no position to honor immediately. Unsurprisingly, the notes circulated at a discount and public confidence remained low for years.