Private banking: adaptable ryogae, 1875–1881 The 1876 revisions of the National Bank Decree allowed would-be bankers to use the title ‘bank’, but it was only Mitsui who could immediately take this opportunity to establish themselves as a western-style modern bank. As was seen, Mitsui had earlier in 1872 planned to set up their own bank but were persuaded to support the government scheme of bringing about the national bank system. In addition to this earlier willingness, there was another reason for Mitsui to make efforts to renew their proposal. When it was established, the First National Bank was accommodated in premises specially built by Mitsui for their own banking purposes. As has already been explained,1 Mitsui had unwillingly joined the house of Ono in launching the First National Bank. When at the end of 1874 the house of Ono collapsed, Mitsui considered its position. Mitsui wrote to Shibusawa, chief auditor of the First Bank, detailing fifteen complaints including their shareholdings, use of Mitsui premises as the First Bank offices and withdrawal of bank clerks who had been Mitsui employees. Shibusawa, who was intending to take over the management of the Bank, remained unmoved, rejecting most of the complaints and concluding: As far as the institution [First Bank] has been established carrying ‘the bank’ as its title, I think that the issue department [for the Ministry of Finance] would not ignore the fact that Mitsui Gumi have treated the Bank as their branch shop. As the situation might be considered to cause certain inconveniences, the Bank should, I think, be put in a position free from such shortcomings when the revisions of the National Bank Decree would be made. [ABSTRACT FROM AUTHOR]