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Japan experienced a sharp drop in prices as the economy contracted over the next few years in response to high inflation caused by the Satsuma Rebellion. One of the main issues was the large amount of devalued inconvertible notes that were in circulation. While the Imperial army had been victorious, these notes had to be printed to pay off the large incurred debt. The Bank of Japan was established in 1882 (year 15) to remedy the situation, and two years later convertible banknotes were issued. An imperial ordinance was issued in June 1885 stating that silver payments would be resumed after January 1, 1886.
