Strengthening the Japanese Nation
The spirit of the Japanese nation is, by its nature, a thing that must be propagated over the seven seas and extended over the five continents. Anything that may hinder it must be abolished, even by force. —Army Minister Sadao Araki, January 23, 1933 The post–World War I economy wreaked havoc on many nations, Japan included. Due to the postwar production slowdown, increased trade barriers and tariffs imposed by the West, and economic strains caused by the Great Kanto Earthquake, Japan fell into an economic depression two years before the global Great Depression began in 1930. Thirty-seven banks were forced to close after Japanese citizens tried to cash in government-issued earthquake bonds that had been sold to raise funds for reconstruction. The economic crisis brought down the civilian government and brought to power the zaibatsu, family-controlled businesses that held monopolies within the Japanese Empire and kept close ties, and influence, with the civilian ...