Japan, a backward country in the 19th century, applyed the most modern banking system from the advanced countries in Western Europe. The Industrial Bank of Japan, incorporated in 1900, was modeled on the Credit Mobilier in France. However, contrary to the planners' expectation, the real which the Industrial Bank of Japan played in 1900's was quite different from the roal which the Credit Mobilier played in France in 1850's. The points of difference were as follows. (1) Credit Mobilier made long-term loans to capital using firms as railway firms, but, in Japan, long-term loans to such firms were made by zaibatsu holding companies and zaibatsu banks. The Industrial Bank of Japan could only take an active part in the investment to the colonies such as Korea and China, which zaibatsu hadn't dare because of the possibility of suffering loss. (2) Credit Mobilier could raise the funds; collecting the savings of the French people, and even made loans to the foreign countries such as Germany, Spain and Italy. On the contrary, having difficulties in raising funds, the Industrial Bank of Japan issued bonds in Western Europe and U. S./In Japan, the savings of the people were very few as the feudalism survived till 1873. (3) In France, after the violent conflict between "old wealth" (the haute banque) and "new wealth" (the Credit Mobilier), the Pereires-the representatives of "new wealth"-beat the Roths-childs-the representatives of "old wealth". In Japan, "old wealth" (zaibatsu such as Mitsui and Mitsubishi) mutilated the bill of the Industrial Bank of Japan which had been advanced by a part of the Bureaucrats and the small class industrial bourgeoisie.