On December 25, 1868, they set up an independent Ezo Republic on the American model, and elected Enomoto as its president. These were the first elections ever held in Japan. They tried, in vain, to obtain international recognition for the new republic.
During the winter they fortified their defences around the southern peninsula of Hakodate, with the new fortress of Goryokaku at the center.
Imperial forces soon consolidated their hold on mainland Japan, and in April 1869 dispatched a fleet and an infantry force of 7,000 to Ezo. The Imperial forces progressed swiftly and won the Naval Battle of Hakodate, until the fortress of Goryokaku was surrounded with 800 remaining men. Enomoto decided to surrender on May 18, 1869, and accepted the Meiji Emperor's rule.
Enomoto was sentenced to a brief prison sentence, but was freed in 1872 and accepted a post as a government official in the newly renamed Hokkaido Land Agency. He later became ambassador to Russia, and held several ministry positions in the Meiji Government.
The Republic of Ezo was founded in 1942 with Russian help, during the Japanese Civil War.
The Republic was, for most of its history, isolated from the rest of the world, what little trade it did being mostly with Russia.
By the end of the Republic, the ari was about 543,000 to the Imperial lò, and lacked coins all together, using bills of 1,000, 5,000, 10,000, 50,000 and 100,000 ryò.