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| The Bank of Japan - Built 1896 |
Growing up in the 1980's, when Japan's economic power loomed as large in the American imagination as China's does now, my first impression of Japan was as a nation of businessmen and skyscrapers. Bookstore shelves were lined with books about Japanese management techniques and business ethics. As our trade deficit enlarged, and the old men who hung out outside the grocery story would tell anyone who looked at them that one day the Japanese was going to buy this country.
Of course, nobody foresaw the Asian banking crisis of the 90's and the bursting of the Japanese bubble economy. Not to mention their subsequent decades long recession.
It is appropriate, then, that the English word "tycoon," used to designate a powerful businessman or industrialist, is actually a loanword from Japanese. Brought into English because of a desire to open Japan up to foreign trade, this word which first signified a military dictator, was popularized by its application to a President and finally came to rest upon the shoulders of the capitalist magnates of the Gilded Age.
The word “tycoon” can be traced back to the period of Japanese history known as the “shogunate.” During this period, Japan was ruled by a hereditary military dictator, who carried the rank of “shogun.” These powerful generals first came to power in the late 12th century, and ruled (with the exception of a brief restoration of Imperial authority from 1333-1336) until the last Shogun, Tokugawa Yoshinobu, relinquished power to the Emperor Meiji in 1867.
While the Emperors were relegated to a ceremonial position, these samurai warriors were the true power behind the throne for nearly seven hundred years. Although they still technically derived their station from the Emperor, the shoguns insisted that foreigner visitors refer to them by the title "taikun," (Great Lord) lest they forgot who was really in charge in the country. Interestingly enough, this Japanese word was itself borrowed from the Chinese: a combination of "Ta" and "Kiun" meaning big (or great) prince.
Americans began using this term for the ruler of Japan in the mid-19th century, after the shogun was compelled into entering into a trade deal through the missions of Commodore Perry. The title first appears in the New York Times in 1858. The popularity of the term, however, didn't take off until it became a nickname of a truly American icon, Abraham Lincoln.
Lincoln's personal secretary, John Hay used the title "tycoon" to refer to the president in his diary on April 25, 1861. It seems to have been an affectionate, and perhaps somewhat tongue-in-cheek title for the leader who was often portrayed as a dictator by his enemies. The first American tycoon, it appears, was the First Tycoon.
From this application, the word ran amok through American English, expanding in scope as it crossed the continent's railroads and canals. First it became a general title for anyone who was in charge, even in as menial a dominion as a luggage car. Eventually, it settled into its familiar home, denoting not just a leader, but specifically the boss of a large corporation or industry.
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