Tsuruga (Echizen) Kan'ei Tsūhō — The Story of Local Currency from Hokuriku

In the early Edo period of 1636, the Tokugawa shogunate nationally controlled the minting of currency and issued the Kan'ei Tsūhō. This policy aimed to control the national economy and strengthen the shogunate's power. However, in regions like Tsuruga and Echizen in Hokuriku, independent economic activities beyond the shogunate’s control developed. These regions were significant trading hubs in the Sea of Japan, with Tsuruga known as a port of call for ships. From 1636 to 1720, the Kan'ei Tsūhō unofficially minted in this area was used by local merchants and shipping agents, revitalizing the regional economy. Trade via the Sea of Japan promoted the distribution of rice, silk products, and other specialties, creating a demand that led to the birth of regional currency. Local merchants, unable to meet demand with official shogunate currency, decided to mint local coins. As a result, the Tsuruga region formed its own economic sphere, playing a part in the Edo period Sea of Japan trade. Though this unofficial minting temporarily invigorated the local economy, it also created tension with the shogunate's strict regulations.

The minting of Tsuruga (Echizen) Kan'ei Tsūhō was secretly carried out not in official mints but by local artisans. This involved contemporary minting technology and the significant role of artisans supporting it. Echizen artisans independently mixed copper and created mold-making technology. However, under strict shogunate surveillance, obtaining high-quality copper like that from official mints was difficult, so the quality and precision of the molds often fell short. Nonetheless, local artisans used their wisdom to maximize available resources for minting. They adjusted mold precision and copper mixes to produce coins durable for regional use. Local merchants supported these artisans by providing necessary materials, thereby promoting unofficial minting. As a result, the Tsuruga (Echizen) Kan'ei Tsūhō played an important role in the regional economy, forming a foundation for commercial activity. Ultimately, these unofficially minted coins circulated locally, escaping the eyes of the shogunate, and became an important means for merchants to smooth out transactions.

Tsuruga (Echizen) Kan'ei Tsūhō played a crucial role in regional economic circulation. For local merchants and shipping agents, these unofficial coins were vital for smoothing trade. Tsuruga, as a key point on trade routes via the Sea of Japan, gathered a wide variety of goods and carried out active trade. Rice, silk products, salt, and seafood were traded, and the shipping vessels critical for transporting these goods were indispensable to the region. To cope with situations where official currency like Kan'ei Tsūhō or Edo silver coins were insufficient, merchants used unofficially minted Tsuruga Kan'ei Tsūhō in transactions. This revitalized the local economy, allowing merchants to trade goods efficiently and secure profits. For common people, this regional currency became indispensable for daily life, supporting price stability. Thus, the Tsuruga Kan'ei Tsūhō functioned like the lifeblood of the regional economy, sustaining commercial activities. However, with increasing shogunate regulation, circulation of these unofficial coins gradually became restricted, and their role diminished following currency system reforms.

As time passed, Tsuruga (Echizen) Kan'ei Tsūhō completed its role and faded into history. The shogunate aimed to unify currency systems, enforcing stringent regulations to curb the circulation of unofficial currency. Consequently, regionally minted Kan'ei Tsūhō gradually vanished, and official currencies such as Kan'ei Tsūhō and Edo gold coins regained dominance. By around 1720, circulation of such unofficial currency nearly ceased, and the regional economy returned under shogunate control. However, Tsuruga Kan'ei Tsūhō recognized its historical significance by temporarily enhancing the regional economy and supporting merchants’ transactions. In modern times, these coins are valued as historical materials, attracting interest among numismatists and historians. Their authenticity is determined through site location and copper material analysis, becoming academic research subjects. Due to their rarity, they hold high market value and are esteemed as collector's items. In this way, Tsuruga Kan'ei Tsūhō continues to represent the story of the Edo period's regional economy in posterity.