著者

望月 和彦

出版者

桃山学院大学

雑誌

桃山学院大学経済経営論集 (ISSN:02869721)

巻号頁・発行日

vol.55, no.1, pp.115-158, 2013-10

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After the great crash of15th March, markets of stocks and commodities continued to turmoil. At the end of March the future markets of stocks and commodities were cleared but that wasn't a true clearance. Because clients of local areas refused to receive stocks which were falling and brokers of stock and bankers who lent money to them found pile up stocks to be cleared in their hands and in their safe. Such manipulation was brought to light by the bankruptcy of Masuda Bill Broker Bank on7th April. Prices of stocks and commodities fell sharply and the stock markets were closed. In meanwhile the tops of stock exchanges begged the finance minister Korekiyo Takahashi and the governor of the BOJ Junnosuke Inoue to finance for the clearance of stock trades. The BOJ announced to finance stock traders through their banks. And the finance minister Takahashi announced the troubles of stock market were resolved by the relief finance of BOJ but the stock market was collapsed on the day Takahashi made the announcement.