GIPE-PUNE-OIIOI2 - DSpace@GIPE

84 THE BANK CAPITALISM OF YOUNG BENGAL
connect the banking progress with that in cotton manufacture.
We may take these two lines of economic
enterprise equally as embodiments of the people' s advance
in industrialization and capitalism, although perhaps to a
certain extent independent of each other. In 1905 there
were 197 cotton mills throughout India. In 1931 the
figure was 339. The increment in spindleage and looms
can be seen below:
Year
1905
1931
Spindles
5,1(>3,486
9,311 ,953
Looms
50,139
182,429
Corresponding to this increase in machinery there pas
been simultane(;ms increase in the employment rolls also.
From 195,277 in 1905, the hands rose to 395,475 in
:1931. 2
This industrialization, 'so far as the cotton line is concerned,
has been able to exhibit its in~uence on the
statistics of foreign trade as well. We are to-day less
dependent on foreign textile stuff than in 1905.
The production of cotton twist and yarn in Indian
mills has increased from 646,757,000 tbs. in pre-war
quinquennium to 867,045,000 tbs. in 1930-31. 3
This
is an increment to the extent of 136 pef cent. The comparative
position at two dates so far as the relations
~tween imports and home manufacture are concerned
is exhibited below:,
'f
2 Chart published by the Millownera" Association, Bombay, 1931.
3 ReDie"" of the Trade of India in 1930~31, pp. 207.