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These new tokens were called kenji-kin, as they bore on the reverse the ideograph ken, signifying "great original." The issue of the new coins took place in the year 1710, and at the same time the daimyo were strictly forbidden to issue paper currency, which veto also was imposed at the suggestion of Arai Hakuseki.
It has already been shown that this custom found many followers in the days of Ashikaga administration, and it was observed with almost equal strictness under the Tokugawa, who certainly aimed at the gradual weakening of the Imperial household's influence. Arai Hakuseki remonstrated with the shogun, Ienobu, on the subject.
This shrewd, though somewhat conservative, suggestion elicited general approval, but was not carried into effect until the time of the eleventh shogun. It has been shown above that the fifth shogun bequeathed to his successor a much embarrassed treasury. In this realm, also, the advice of Arai Hakuseki proved invaluable.
Another interesting investigation made by Arai Hakuseki is in connexion with the country's foreign trade.
Arai Hakuseki was able to prove the erroneous character of this report, but his demonstration did not impugn any of the above figures.
Yoshimune was not behind any of his ancestors in appreciation of learning. Nawokiyo was named "adviser to the shogun," who consulted him about administrative affairs, just as Arai Hakuseki had been consulted by Ienobu.
Hakuseki was able to detect that the conduct of the envoys violated in many respects the rules of Chinese etiquette, and having obtained the shogun's nomination to receive the envoy, Cho, he convinced the latter that there must be no more neglect of due formalities.
Incidentally it is mentioned in Arai's comments that 700,000 ryo were allotted for building an addition to Yedo Castle, and 200,000 ryo for the construction of the deceased shogun's mausoleum, out of which total Hakuseki explicitly charges the officials, high and low alike, with diverting large sums to their own pockets in collusion with the contractors and tradesmen employed on the works.
When Yoshimune succeeded to the headship of the Bakufu, and after Arai Hakuseki was no longer in office, this far-seeing policy was gradually abandoned, and all the relations between the Imperial Court and the Bakufu became somewhat strained.
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