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

EFFECTS ON MONETARY CIRCULATION I79
FLUCTUATION OF AMOUNTS OF CONVERTIBLE NOTES AND SPECIE RESERVE,
OCTOBER, 1903-JUNE, I907 -

Date Convertible notes Specie reserve for
of Bank of Japan convertible bank notes

1903 Yen Yen
October.....209,202,336 11I6,491I,949
I1904
January....2I4,597,368 105,931,908
February............ 221,890,400 I00,93I,307
March. 2I3,49,15 92,127,709
April.199ig,019,965 80,82I,273
May.1. 99,977,306 68,087,262
June.....232,072,757 92,793,834
July...232,766,644 109,5I2,477
August. 240,366,435 11I7,292,602
September. 239,964,28i1 1I0,002,09 5
October. 240,937,503 99,I57,356
November. 248,069,903 84,924,654
December. 286,625,752 83,581,226
I905
January..274,855,451 119,672,141
February. 263,484,047 11I9,560, 195
March. 251,202,479 I02,i63,093
April..238,196,171 100,274,298
May.....259,733,684 127,165,929
June.~~~~~~~~~265,5I4,474 107,733,010
July. 277,300,837 I112,604,902
August. 263,286,209 104,443,970
September. 262,690,683 104,049,17
October...268,995,347 103,985,301
November...273,557,429 102,538,840
December..312,790,8i9 I115,595,026
1906
January......278,999,364 124,289,999
February. 262,569,040 124,574,375
March. 269,091,983 122,732,662
April..259,876,022 123,7:23,563
May.....253,618,323 144,930,983
June.~~~~~~~~~274,576,279 143,621,797
July......262,545,329 143,05.7,585
August..293,676,425 148,335,457
September..277,502,732 146,11 I7,31I6
October..285,344,857 146,411I,339
November. 290,525,470 145,284,369
December. 341,766,164 147,202,125
I907
January.~~~~~~~~326,806,706 148,386,606
February. 3I9,027,012 146,10 8,692
March.....31I8,732,159 144,921,302
April. 299,355,568 104,222,726
May....294,202,480 139,681,024
June............. 332,855,906 148,081,936