"THE MORGAN OF JAPAN."
Farmer's Son Organized the First Japanese
National Bank and Aided in Establishing
His Country's Industries.
"Baron Shibuzawa," says Jihei Hashiguchi, "is called the J.P. Morgan of Japan. But he is more important to Japan's industry than Mr. Morgan is to that of the United States, for the industry of the United States can in a sense get along without J.P. Morgan. The industry of Japan cannot do without Baron Shibuzawa."
The man who has been the industrial and financial savior of Japan was born near Tokyo in 1840. His father was a farmer of slender resources, and supplemented the small earnings of the farm by the cultivation of silkworms and the manufacture of indigo. The boy was lazy—the laziest boy in the empire, he was called—and he spent most of his time in reading fiction, studying the history of his country and China, and familiarizing himself with the Japanese and Chinese classics. Fencing also was one of his diversions, and when he was fourteen years old he swore allegiance to one of the feudal lords at Kioto, the ancient capital of Japan.
In 1853 Commodore Matthew C. Perry visited Japan, and his visit paved the way for the opening up of the country to foreigners as well as for a revolution in the social and industrial conditions of the island empire.
Three years after Perry's visit, the Shogun, hereditary commander-in-chief of the Japanese armies and head of the powerful clan of Minamoto, assumed the title of Tycoon. At one time the Shogun rivaled and even surpassed the Mikado in power. But his influence was rapidly declining. Shibuzawa knew this, yet he entered the service of the Tycoon, and in 1867 he accompanied the brother of the latter on a political mission to France.
Up to that time Shibuzawa had been nothing more than an ordinary member of the Samurai. The contrast between conditions in Europe and in Japan affected him deeply.