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

alization of interest rates for large deposits; abolition of restrictions
of an exchanging foreign currencies into yen; creation of a yen-based
bankers acceptance market; and acceptance of foreign banks’ unilateral
entrance into the fiduciary business.
In 1989, along with the U.S.–Japan Structural Impediments Initiative,
a Japan–U.S. financial market working group was established
that discussed issues on financial liberalization both in the United
States and in Japan, as well as their common concern about world financial
markets. Moreover, under the U.S.–Japan Framework Talks
on bilateral trade begun in 1993, the U.S.–Japan Financial Service
Consultation was established as a sub-basket (group of services) in
the financial service field that examined deregulation in this field. In
1995, when the U.S.–Japan Financial Service agreement was
reached, as its follow-up meeting, the U.S.–Japan Yen Dollar Committee
continued to be held to discuss the development of financial
markets both in the United States and in Japan. See also U.S.–JAPAN
TRADE CONFLICTS.
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VERBECK, GUIDO • 257
VAN REED, EUGENE (1835–1873). American businessman, adventurer,
and part-time diplomat, Van Reed lived in Yokohama and
Tokyo from 1859 to 1872. He met Joseph Heco, the castaway Japanese
sailor in San Francisco in 1858 and decided to follow him to
Japan. To the consternation of American diplomatic officials, Van
Reed soon developed a close business relationship with Satsuma domain.
Van Reed was involved in other business ventures, including
arranging the first group of Japanese laborers, known as Gannenmono
to be sent to the Kingdom of Hawaii in 1868. The arrangement
among Van Reed, the Hawaiian government, and Japanese labor recruiters
caused political difficulties between Japan, the United States,
and Hawaii that were eventually resolved by a treaty between Japan
and the Kingdom of Hawaii negotiated by Charles De Long, the
American minister to Japan.
VERBECK, GUIDO (1830–1898). Born in Holland, Verbeck became
an American citizen and missionary for the Dutch Reformed Church.