Ito Hirobumi

Under Ito Hirobumi's leadership, the Bank of Japan was established as the nation's central bank. It was modeled after European central banks and aimed to stabilize the currency and control inflation. This institution was crucial for Japan's economic modernization and industrial growth.

Ito Hirobumi became the first Prime Minister of Japan under the new cabinet system. He served four non-consecutive terms and was instrumental in shaping the modern Japanese state. His tenure focused on centralizing power, modernizing the economy, and strengthening the military.

Ito Hirobumi led the drafting of the Meiji Constitution, which established a constitutional monarchy with a bicameral parliament (the Diet). The constitution granted the emperor sovereign power but also provided for elected representatives. It was promulgated in 1889 and remained in effect until 1947.

Ito Hirobumi was assassinated by Korean nationalist An Jung-geun at Harbin railway station in Manchuria. Ito was on a mission to negotiate with Russian officials regarding Korea. His death shocked Japan and was used to justify the formal annexation of Korea in 1910.