After that, MATSUKATA was ordered to form a cabinet again by the Emperor in1896, following the Second Ito cabinet, and he achieved a return to the gold standard system which had been a pending problem, but he failed to be in liaison with the Shinpo-to (Progressive Party) led by Shigenobu OKUMA and forced to resign in a year and several months again.
その後第2次伊藤内閣を挟んで明治29年（1896年）に再び松方に組閣の大命が下るが、懸案であった金本位制への復帰こそ成し遂げたものの、大隈重信率いる進歩党(日本)との連繋がうまくいかず、同じく1年数か月で辞任を余儀なくされた。