Chapter 73 – The Late 1920s American Economy
Around the time I confronted Ishiwara Kanji, the Tanaka Cabinet—under the guidance of Finance Minister Takahashi—returned Japan to the gold standard, following France’s lead in restoring its own.
The goal was to disperse the attention of those targeting gold.
Preparations had already been underway since the previous year, so the fact that Japan managed to act without missing France’s timing was quite impressive.
Moreover, they implemented a devaluation.
The Tanaka Cabinet, rather than worrying about Japan being perceived as economically weak, chose a policy aligned with the actual state of the Japanese economy, as strongly recommended by Finance Minister Takahashi.
Given that Tanaka Giichi was a former military officer, he probably had no choice but to nod in agreement with Takahashi Korekiyo.
Even the financial circles, faced with the persuasion of Takahashi and his protégés, were unable to voice
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