Closet Time Capsule (020)

Rice Market Conditions <May 15, 1895 (Meiji 28)>

This is an article on rice market conditions from the Meiji era titled 'Fukagawa Shomai Market'. I can read the characters, but I don't understand them... The parts marked with 【】 or 〇 are characters I couldn't read. (I should be able to read or decipher them if I try a little harder, but I couldn't bring myself to do it...)

That is how it is. I managed to transcribe 90% of it, but now the content isn't getting through... It doesn't even sound like Japanese...

Here, I got help from an AI to create a translation into modern Japanese.

◆ May 15, Meiji 28, 'Fukagawa Shomai Market' column

Regarding the rice market, there are few visitors to the market again today, and only selective buying for actual demand (immediate needs) is slightly visible. However, the current weather is favorable, and there is talk that the wheat crop is generally in good condition. Furthermore, since a large shipment of northern rice is expected to arrive soon, buyers are naturally calling for lower prices and are increasingly holding back. Nevertheless, as this is a place where regular transactions take place and it is a time when attention is focused on future developments, the shippers do not seem to be rushing to sell by forcing their way into the market. For this reason, from this morning, transactions began with prices adjusted slightly lower by five shaku, generally at the same level as yesterday.
However, because the views of sellers and buyers (bullish/bearish) are mixed, the price levels vary greatly, and there were even some transactions that were concluded at one go lower. In short, the market sentiment was extremely calm, and it was a situation where thin trading and a deserted atmosphere were unavoidable—that was the state of the market today.

◆ Supplementary explanation

• Selective buying for immediate demand
  → It seems it is nothing more than selective buying to meet actual demand.

• Five shaku lower / One go lower
  → Units commonly used in Meiji-era rice trading.
  Five shaku = 0.5 go, meaning the price has dropped slightly.

• Price levels vary greatly due to mixed bullish and bearish views
  → Bullish and bearish outlooks are divided among people, and prices are fluctuating significantly.

• Shippers do not seem to be rushing to sell by forcing their way into the market
  → The shippers (sellers) do not show any signs of trying to sell aggressively.

Even recently, when rice prices soar, it's hard to tell who is pulling back where or why there are no buyers, even when watching the news. In that sense, I think it's a bit similar to now. In any case, when I create a modern translation, I can clearly grasp the information and see that it is fulfilling the role of an article, but if I can't read it, I don't understand anything. I was surprised by that myself.

What is 'Shomai' (standard rice) in the first place?

'Carefully selected and polished standard white rice.' It refers to 'authentic' white rice that is used as a standard in the market. This is also interesting when you look into it, as follows:

◉ Originally, rice distribution was basically 'mixed rice'

From the Edo period to the early Meiji period,

• there were differences in the degree of polishing and the uniformity of grains depending on the region and the farmer,

• and it was often bought and sold as 'waste rice,' 'uneven rice,' or 'mixed rice' as it was.

◉ That is where "Shomai" (standard rice) appeared

• Rice that meets specific milling standards,

• rice free of impurities or immature grains,

• rice that can be brought to market as a standard product.

That is "Shomai."
In other words, it refers to "quality that passes as a proper product."

◆ What is the Shomai Market?

For example, the "Shomai Market" in Fukagawa and Kajikazawa wasa place that handled "high-quality rice" meant for distribution, rather than crude rice for local consumption.It was.

• Because it was traded based on standards, prices easily became market indicators

• There were many shipping destinations (cities, military, government offices, large trading companies)

In short, it was a central market considered to be the place where "the price of rice is determined."

◆ By the way, what about the "grading" system?

The Meiji era was a time when a nationwide unified grading system had not yet been established,
and the criteria for "what is considered Shomai" were somewhat local for each market.

However, the distinction between "Shomai" and "other rice (unselected/ordinary rice)" was still very clear.

Why "Shomai Markets" became newspaper articles

• Rice was the "core of commodity prices" and a material directly linked to politics

• Consumers, retailers, and brokers were all watching the prices closely

• Around 1895, large quantities of rice were flowing into military demand, school lunches, and government demand

In other words,the "Shomai Market articles" were felt to be equivalent to the "Consumer Price Index."That is what they were.

Shomai: White rice that has been carefully selected, milled, and meets standards. "Standard rice" for market trading.
Shomai Market: A public or quasi-public exchange that handles only Shomai. Prices were valued as indicators. The objects of trade were mainly "high-quality rice" with supply routes to urban areas, government demand, military demand, schools, etc.

Knowing this background makes the existence of this market report understandable.
"Rice prices have risen," "There are no buyers."
This is not just a story about trade, but a reflection of the "temperature of society."

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