The Minseito Cabinet of 1929-31 was liberal, but by no means radical.
It was, in reality, a government of “big business.” Its liberalism
stood out mainly in its moderate foreign policy, which contrasted
sharply with Tanaka’s earlier aggressive moves. It was headed by
distinguished leaders: Hamaguchi (Premier), Shidehara (Foreign
Minister) and Inouye (Finance Minister).
This Cabinet labored, however, under a fatal handicap, similar to that
which confronted President Hoover in our own country. For it entered
office in July 1929, at the height of the post-war boom. The Wall
Street crash, and the spreading world depression, immediately followed.
The swift change in economic conditions during its period in office had
much to do with its final overthrow.
Hamaguchi and his Cabinet aides began with a great victory on the issue
of the London Naval Treaty of 1930. This treaty extended limitations to
cruisers and destroyers, as well as capital ships. The army and navy
die-hards opposed it bitterly. The people and the press supported the
Cabinet’s fight for it. On October 1, 1930 the Privy Council ratified
the treaty. The Cabinet and the people had won.
For the moment it seemed as if the Cabinet had brought the army and
navy under control. Real democracy seemed possible. But the triumph was
short-lived. It was the swan song of parliamentary government in Japan.
In November 1930 Premier Hamaguchi was shot by an assassin; eight
months later he died from his wounds. His loss seriously weakened the
Cabinet, and cut down its chance of success on new issues which were
developing.