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HISTORY (NEW JAPAN)
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V. Period of Internal Development (1879-1889).

CHRONOLOGY.

1879. Annexation of the Loo Choo Islands.
          Visit of General U. S. Grant.
1880. Promulgation of Penal Code and Code of Criminal Procedure.
          Establishment of prefectural assemblies.
1881. Announcement of Constitutional Government.
1882. Organization of political parties.
          Bank of Japan (Nippon Ginkō).
1883. Missionary Conference, Ōsaka.
1884. New orders of nobility in European fashion.
          English introduced into school curricula.
1885. Japan Mail Steamship Company (Nippon Yūsen Kwaisha).
          Cabinet reconstruction, known as "The Great Earthquake" (political).
1886. Dissatisfaction of Radicals.
1887. "Peace Preservation Act."
1888. Establishment of Privy Council.
          Eruption of Mount Bandai.
1889. Promulgation of the Constitution (February 11).
          Establishment of local self-government.
          Prince Haru proclaimed Crown Prince.

This period is not marked, perhaps, by so many unusual events as the preceding one; but it was a period of rapid, though somewhat quiet, internal development. We note in financial affairs the organization of the Bank of Japan, which has ever since been a most important agent in maintaining an economic equilibrium; in business circles the

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