Expenditures of the Russo-Japanese war / by Gotaro Ogawa.

EFFECTS ON MONETARY CIRCULATION 17 I
FLUCTUATION OF INTEREST, 1904-1907

At the
Throughout the country Tokyo Banks
Syndicate
Date
Interest on Discount rate Interest on
fixed deposit per diem fixed deposit

1904 Per cent Sen Per cent
January.................... 0.59 2.84 0.547
February...................2.92 0.553
March.................... 2.9I 0.552
April.................... 0.6o 2.92 0.550
May...................... 2.93 0.549
June...................... itt0.554
July.................. " 2.97 0.558
August..................2.98 0.556
September................ 2.97 0.561
October................. " 2.96 o.560
November............. 2.94 0.562
December................. i 2.99 0.563
1905
January.................... ". 3 00 0.563
February..................., 2.97 0.565
March..................... 294 o.56I
April............... 2.96 0.563
May..................... 2.95 0.562
June....................... 3.00 o.56I
July....................... o.6 304 0.575
August.................. 3.08 0.589
September..................62 3.07 0.590
October................. 3.05 0.57I
November.................. o.6 304 0.586
December................. o. 62 3.02 0.588
I906
January................... 3-0I 0.566
February................... o.6 2.96 0.588
March....................2.89 0.57I
April.0.....................60 2.84 0.562
May................... 3.82 0.557
June...................., 2.79 0.554
July....................... 59 2.74 0.548
August................ o0.58 2.69 0.549
September............... 2.67 0.546
October.................... "2.65 (
November................ o. 57 2.62
December...........2....... 261
1907
January.................... 2.62
February................... 2.59
March.................... 2.58
April..............2.60
May..............2.62(
June........................ 2.67