고려대학교

초록/요약

This paper analyzes how the war bonds issued by Japan following the Sino-Japanese War were absorbed. Once target amounts were set for each region of Japan, Joseon, Taiwan, etc., the Joseon Governor General Office divided the allocated amounts for each Do (province), which, in turn, further distributed the allotments to sub-provinces: Bus (府) and Guns (郡). The Do-specific amounts were generally based on each Do’s income, and the household-specific amounts on household income taxes. War bonds were absorbed in the forms of direct and indirect taxes. Japan attempted to increase the government bond absorption rates by actively taking advantage of the points where income and consumption took place. Given that the war bonds Joseon citizens were forced to purchase had no real value due to the inflation and were not redeemed upon maturity, the bonds were therefore no different from taxes. Although the war bonds were basically featured as compulsory, they also appealed to the public’s patriotism and speculative spirit. While claiming that purchasing of the bonds was the sacred obligation of the citizens, the colonial office advertised the huge amount of money the winners would get. This, however, contradicts the ideology that Japan used to mobilize resources to wage wars: the nation forced its people to sacrifice their private interests for the good of the country on one side while encouraging them to buy bonds by campaigning on a dream of fortune on the other. This clearly shows the inherent limitations of the war bonds with no economic value.