Historical Dictionary of United States-Japan ... - Bakumatsu Films

FOREIGN EXCHANGE ALLOCATION SYSTEM • 83
The February 26 Incident marked the last significant act of army
insubordination. It did not, however, lessen the army’s influence in
domestic Japanese politics. To the contrary, a clique dedicated to
long-term, large-scale economic planning came to dominate the
army’s upper echelons. At the same time, army budgets increased by
more than 30 percent as officials sought to both lessen internal army
factionalism and prepare for greater war. After the February 26 Incident,
as one observer has noted, the future of the army rested with
cool-headed, bureaucratic figures like General Hideki Tōjō.
FENELLOSA, ERNEST (1853–1908). American sociologist who
also studied art at the Boston Museum of Fine Arts, Ernest Fenellosa
arrived in Japan in 1878 and taught philosophy at Tokyo Imperial
University for several years. He became interested in studying and
collecting Japanese art, and helped found the Tokyo School of Fine
Arts. He returned to Boston and dramatically increased the Japanese
art collection at the Boston Museum of Fine Arts. After spending another
three years in Japan from 1897 to 1900, he took up an academic
position at Columbia University in New York. Fenellosa’s
collections and publications introduced and popularized Japanese art
among Americans in the late 19th and early 20th centuries. See also
YATOI.
FILLMORE, MILLARD (1800–1874). Serving as vice president,
Millard Fillmore unexpectedly assumed the highest office when
President Zachery Taylor suddenly died of gastroenteritis on 9 July
1850. As president from July 1850 to March 1853, Fillmore and his
Secretary of State Daniel Webster ordered Commodore Matthew
Perry to lead a U.S. Navy squadron to Japan and negotiate the
Kanagawa Treaty, formally known as the U.S.–Japan Treaty of
Friendship.
FOREIGN EXCHANGE ALLOCATION SYSTEM. Prior to 1964,
Japan’s export management regulations stated that allocations of foreign
exchange to pay for imports required permission from the Minister
of International Trade and Industry (MITI). This regulatory
arrangement was called the foreign exchange allocation system.
Based on revisions to foreign exchange and trade management laws