However, due to the Matsukata deflation (also known as the Matsukata finance, a financial measure to induce deflation to eliminate inflation generated by raising funds for the war cost of the Seinan War), more and more farmers became tenant farmers (the ratio of the tenant farmers to all of the farmers increased from 38% to 47%), generating large landowners.
しかし、松方デフレで農民の小作人化が進み（小作農率の全国平均38％→47％）、大地主が発生した。