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Notes

This database provides end-of-month balances for Bank of Japan notes issued during the period January 1914 - December 1941.

Banknotes during this period were issued based on elastic-maximum-limit system backed specie reserves and securities under the Convertible Bank Note Act. "Reserve issue" refers to convertible banknotes issued backed by specie reserve in the same amount, while "guarantee issue" refers to banknotes other than reserve-issue notes, backed by guarantees in the form of government bonds, treasury bills, or other guaranteed securities or commercial bills (pursuant to Article 2, Paragraph 2, Bank of Japan Act).

"Excess issue" refers to guarantee-issue banknotes issued beyond the maximum limit on guarantee issue as deemed necessary based on circumstances by the Bank of Japan and when authorized by the Minister of Finance.

Where outstanding amounts of "securities for fiduciary issue" do not exceed the limit, "0" is indicated. Only total amounts issued are shown for the period March - December 1941. This is because the Law Concerning Temporary Special Exceptions to the Convertible Bank Note Act promulgated on March 3, 1941, eliminated the distinction between specie reserve and securities for fiduciary issue beginning April 1 of that year.

The source for this data is Economic Statistics of Japan published by the Research Department of the Bank of Japan.