In 1730, Japanese shippers petitioned shogun Tokugawa Yoshimune to formally approve trade in rice futures at the Dojima Exchange, the world's initially composed (however unsanctioned) futures market. For a long time, the Japanese government had precluded the exchange of futures bills since it was generally viewed as a type of gambling that caused rice costs to rise. Be that as it may, when the cost of rice fell to record lows in the late 1720s, the samurai (whose salary was tied to the value of rice) saw their monetary position fall in respect to the vendor class, whose developing financial power stressed the country's elites. The shogun reacted by facilitating limitations on futures trading, however without formally authorizing a futures market at Dojima. The question now was whether he ought to notice the merchants' petition and take the next stride.
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