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Revision as of 19:13, 24 August 2013
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A ''ryô'' was considered to be roughly equal to one ''koku'', which in turn is said to have been roughly the amount of rice needed to feed a man for a year. However, rice and gold prices fluctuated dramatically over the course of the period, and the exact amount of rice that comprised a ''koku'' is, in any case, a subject of debate. Over the course of the Edo period, the cost of rice dropped dramatically relative to the value of gold, making samurai (who relied on stipends paid in ''koku'') less and less wealthy than members of the [[chonin|merchant class]] who earned their incomes in gold and silver.<ref>Screech, Timon. "Owning Edo-Period Paintings." in Lillehoj, Elizabeth (ed.) ''Acquisition: Art and Ownership in Edo-Period Japan''. Floating World Editions, 2007. p34.</ref>
A ''ryô'' was considered to be roughly equal to one ''koku'', which in turn is said to have been roughly the amount of rice needed to feed a man for a year. However, rice and gold prices fluctuated dramatically over the course of the period, and the exact amount of rice that comprised a ''koku'' is, in any case, a subject of debate. Over the course of the Edo period, the cost of rice dropped dramatically relative to the value of gold, making samurai (who relied on stipends paid in ''koku'') less and less wealthy than members of the [[chonin|merchant class]] who earned their incomes in gold and silver.<ref>Screech, Timon. "Owning Edo-Period Paintings." in Lillehoj, Elizabeth (ed.) ''Acquisition: Art and Ownership in Edo-Period Japan''. Floating World Editions, 2007. p34.</ref>
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The use of the gold ''koban'', however, was most common in and around [[Edo]], and the farther one traveled from Edo, the less standard it became. At the beginning of the Edo period, there were over one hundred types of gold coins in circulation,<ref>Crawcour and Yamamura. p490.</ref> and so in many parts of the country, particularly the active commercial centers of [[Kyoto]] and [[Osaka]], and other areas at a considerable distance from Edo, currency continued to be valued by weight, and not by face value. While gold coins were particularly standard in Edo, in the rest of the country, silver and copper coins remained quite common, and were valued by their weight, in ''momme''. One hundred ''momme'' were worth roughly one ''momme'' of silver, and one thousand ''momme'' was called one ''kanme''. Weights, previously not fully standardized, were in the Edo period restricted to those produced by the [[Goto family|Gotô family]], whose weights were to be used in all transactions for weighing out, for example, gold or silver. (Rice was measured by volume, not by weight.) [[Goto Tokujo|Gotô Tokujô]], who produced weights and coins for [[Oda Nobunaga]], and gold engraver [[Goto Yujo|Gotô Yûjô]] (1440-1512) were members/ancestors of this family.
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The use of the gold ''koban'', however, was most common in and around [[Edo]], and the farther one traveled from Edo, the less standard it became. At the beginning of the Edo period, there were over one hundred types of gold coins in circulation,<ref>Crawcour and Yamamura. p490.</ref> and so in many parts of the country, particularly the active commercial centers of [[Kyoto]] and [[Osaka]], and other areas at a considerable distance from Edo, currency continued to be valued by weight, and not by face value. While gold coins were particularly standard in Edo, in the rest of the country, silver and copper coins remained quite common, and were valued by their weight, in ''momme''.
One ''momme'' of silver was a little less than 4 grams. The most common denomination of silver was a 43 ''momme'' nugget called a ''chôgin''.<ref name=obtaining>Timon Screech, ''Obtaining Images'', University of Hawaii Press (2012), 79.</ref>
One hundred ''momme''
of copper coins
were worth roughly one ''momme'' of silver, and one thousand ''momme'' was called one ''kanme''. Weights, previously not fully standardized, were in the Edo period restricted to those produced by the [[Goto family|Gotô family]], whose weights were to be used in all transactions for weighing out, for example, gold or silver. (Rice was measured by volume, not by weight.) [[Goto Tokujo|Gotô Tokujô]], who produced weights and coins for [[Oda Nobunaga]], and gold engraver [[Goto Yujo|Gotô Yûjô]] (1440-1512) were members/ancestors of this family.
The Edo period monetary system, or at least its foundations, was established quite early in the period. In [[1601]] (Keichô 6), the Tokugawa oversaw the minting of a series of coins, in fairly large quantities, explicitly for circulation. The largest was the ''Keichô ôban'', worth 10 ''ryô''; the ''Keichô koban'' and ''ichibuban'', gold coins worth 1 ''ryô'' and 1 ''bu'' respectively, were "face value" coins, with the value of one ''bu'' dependent not directly on the weight of the gold coin, but rather tied to the rising or falling value of the ''koban''. Silver ''chôgin'' and ''mameita-gin'' coins continued to be valued by weight, and circulated in paper wrappings.<ref>Kobata. p106.</ref>
The Edo period monetary system, or at least its foundations, was established quite early in the period. In [[1601]] (Keichô 6), the Tokugawa oversaw the minting of a series of coins, in fairly large quantities, explicitly for circulation. The largest was the ''Keichô ôban'', worth 10 ''ryô''; the ''Keichô koban'' and ''ichibuban'', gold coins worth 1 ''ryô'' and 1 ''bu'' respectively, were "face value" coins, with the value of one ''bu'' dependent not directly on the weight of the gold coin, but rather tied to the rising or falling value of the ''koban''. Silver ''chôgin'' and ''mameita-gin'' coins continued to be valued by weight, and circulated in paper wrappings.<ref>Kobata. p106.</ref>
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By the end of the 17th century, the shogunate took control of the minting of currency, of regional ''ginza'' and ''kinza'', and standardized the system, eliminating regional variant currencies. Though this might seem on the surface like it might stifle economic development, in fact, the opposite occurred, as regional differences in currency systems, and protective policies put in place by the various [[han|domains]], were eliminated, allowing freer circulation of money and goods throughout the country, especially in and out of the major economic centers of Edo and [[Osaka]].<ref>Kobata. p108.</ref>
By the end of the 17th century, the shogunate took control of the minting of currency, of regional ''ginza'' and ''kinza'', and standardized the system, eliminating regional variant currencies. Though this might seem on the surface like it might stifle economic development, in fact, the opposite occurred, as regional differences in currency systems, and protective policies put in place by the various [[han|domains]], were eliminated, allowing freer circulation of money and goods throughout the country, especially in and out of the major economic centers of Edo and [[Osaka]].<ref>Kobata. p108.</ref>
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At the same time, precious metals, especially silver, flowed out of the country in great volume, especially through [[Nagasaki]], and by the end of the 17th century, mining output declined dramatically. This led to dramatic devaluations in the coinage, and rampant inflation, at various times over the course of the Edo period, as the shogunate attempted to implement financial/monetary policies to address the declining supply of precious metal.
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At the same time, precious metals, especially silver, flowed out of the country in great volume, especially through [[Nagasaki]], and by the end of the 17th century, mining output declined dramatically. This led to dramatic devaluations in the coinage, and rampant inflation, at various times over the course of the Edo period, as the shogunate attempted to implement financial/monetary policies to address the declining supply of precious metal.
One of the most significant instances of this came in [[1718]], when the value of the gold ''ryô'' dropped by about 20 percent. One gold ''ryô'' had been equal to roughly 60 ''momme'' of silver, and was now worth roughly 50 ''momme'';<ref name=obtaining/> one ''chôgin'' (43 ''momme''), therefore, had been equivalent to roughly 71% of a gold ''ryô'', but was now worth closer to 83% of a ''ryô''.<ref>Timon Screech (''Obtaining Images'', p79) cites the figures as 65% and 95%; however, calculating directly, using the figures 43, 50, and 60, results in the percentages 71 and 83.</ref>
===Prices===
===Prices===
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*20 ''momme'' - an ''ukiyo-e'' print of good quality.<ref name=screech/>
*20 ''momme'' - an ''ukiyo-e'' print of good quality.<ref name=screech/>
*32 ''momme'' - the cost of seeing a play at [[Ryogoku|Ryôgoku]] in 1820.
*32 ''momme'' - the cost of seeing a play at [[Ryogoku|Ryôgoku]] in 1820.
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*75 ''momme'' - the cost of the journey from Osaka to Nagasaki by boat (roughly 14-20 days).<ref name=screech/>
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*75 ''momme'' - the cost of the journey from Osaka to Nagasaki by boat (roughly 14-20 days).<ref name=screech
/><ref name=obtaining
/>
*90 ''momme'' - the cost of a multi-volume illustrated book, such as ''[[Soga Monogatari]]''.<ref name=screech/>
*90 ''momme'' - the cost of a multi-volume illustrated book, such as ''[[Soga Monogatari]]''.<ref name=screech/>
*1000 ''momme'' or 1/4 ''ryô'' - the cost of sending a child to ''[[terakoya]]'' (temple school) for a year
*1000 ''momme'' or 1/4 ''ryô'' - the cost of sending a child to ''[[terakoya]]'' (temple school) for a year
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*1 ''ryô'' - the cost of commissioning a scroll painting by a well-known painter; a screen painting by the same painter might cost roughly 6-10 ''ryô''.
*1 ''ryô'' - the cost of commissioning a scroll painting by a well-known painter; a screen painting by the same painter might cost roughly 6-10 ''ryô''.
*2-3 ''ryô'' - the cost of hiring a maid for a year (i.e. the income made by a maid in a year)
*2-3 ''ryô'' - the cost of hiring a maid for a year (i.e. the income made by a maid in a year)
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*6 ''ryô'' - a typical annual wage for a laborer<ref name=screech/>
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*6 ''ryô'' - a typical annual wage for a laborer<ref name=screech
/><ref name=obtaining
/>
*6 to 10 ''ryô'' - the fee to commission a major artist for a single set of lavish ''byôbu'' (folding screen) paintings; could be as much as even 40 ''ryô'' depending.<ref name=screech/>
*6 to 10 ''ryô'' - the fee to commission a major artist for a single set of lavish ''byôbu'' (folding screen) paintings; could be as much as even 40 ''ryô'' depending.<ref name=screech/>
*10 ''ryô'' - the cost of a first visit to a [[Yoshiwara]] establishment, including tips for the ''[[nakai]]'' and ''[[taikomochi]]''.<ref>Segawa Seigle, Cecelia. ''Yoshiwara''. University of Hawaii Press, 1993.</ref>
*10 ''ryô'' - the cost of a first visit to a [[Yoshiwara]] establishment, including tips for the ''[[nakai]]'' and ''[[taikomochi]]''.<ref>Segawa Seigle, Cecelia. ''Yoshiwara''. University of Hawaii Press, 1993.</ref>