Money-Changers and Bills

The Konoike house began in shipping at Osaka in 1625, and started using bills of exchange to bring the proceeds of its wine sales safely back from Edo. In 1656 it gave up brewing for money-changing: the sideline of collecting payment had swallowed the main business. Settling on the books without moving cash — the «household bill» service — proved valuable to the daimyo, and by the second generation the house was a financial power dealing with thirty-two domains. Promises on paper were running the economy between Osaka and Edo.