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Depositing ¥200 billion in Japanese government bonds, the Yamaichi subsidiary then used the dummy companies to generate profits for clients while eventually absorbing losses of ¥158.3 billion.
Depositing ¥200 billion in Japanese government bonds, the Yamaichi subsidiary then used the dummy companies to generate profits for clients while eventually absorbing losses of ¥158.3 billion.
The issuance of greenbacks and the sale of government bonds to finance the war were led by the Secretary of the Treasury at the time, Salmon P. Chase (Geisst, 53-54).