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A Brief history of the Japanese Toy Industry
Japan was in dire straits when WWII ended. The Marshall plan was initiated to help Japan get of the terrible state that it was in at this time. There were food shortages, and their industries for the most part had been decimated from the constant bombings that the Americans had done as a precursor for the invasion of Japan. However, with the dropping of the 2 atomic bombs, the war ended and the invasion was not needed.
The Marshall plan was initiated in order to help Japan recover from the effects of WWII. Food was in short supply, and the country had to be rebuilt. One of the purposes of the Marshall plan was to help with the reconstruction, and to bring in much need money. As such, some industries were designated as "export industries" during the mid-1940-s-1950's in order to bring in foreign cash (e.g. US Dollars) for the purchase of food and other supplies that were needed.
I remember in the 1950's when "Made in Japan" was a derogatory term for poor quality and "cheapness". However, Japan worked very hard to manufacture excellent-quality products, and by the mid-1960's became a major exporter around the world, and known for the manufacturer of excellent products with excellent quality control.
A brief history of the Smith House Toy and Auction House
(In his own words)
" Smith House was founded in 1986 by Herb & Barb Smith. They were one of the first to do a catalog/phone format auction. I was a long time buyer/consignor to them. I purchased the business from them in 2004 when they retired. I do 2 auctions a year handling only toys and toy related items. Bidding is done these days mostly on our website although we do still have quite a few phone bidders.