GIPE-PUNE-OIIOI2 - DSpace@GIPE

THE BANK CAPITALISM OF YOUNG BENGAL
8T
oed nearly seven times; The story of imports of cotton
piecegoods tells naturally the story of a striking diminution.
The pre-war average was measured at
2,631,674,000 yards. In 1930-31 the imports were
.totalled at 889,970,000 Yds. i.e. 33·8 per cent of the
situation some two decades ago. 6
In this regard our
.textile independence to-day is to be measured by 66·2 per
-cent diminution in the import.
On the whole, the progressive r~moval of the foreign
textile stuff from the Indian market can be seen in the
following analysis:
First, in regard to cotton piecegoods. In pre-war
.quinquennium, out of a total of some 3,737,000,000 Yds .
. of machine made stuff available on the market,~xcluding'
thereby the output of the handlooms,-70 per cent
came from abroad. But in 1930-31 the imports ·could
.account for only 25·7 per cent.
Secondly, in regard to cotton twist and yarn, out of a
.total supply of some 869, 185,000tts.,~.xcluding there~
. by the output of the handspinning system, 6 per cent
zepresented the imports. This has been reduced to 3·2 per
.cent in 1930-31. Altogether, the Swadeshi spirit has
been very successful in this line of industry.
The Foreign Element in Bengal Ban~s
In the milieu of this .general progress in industrialization
and banking habit let us proceed to examine the
deyelopments of the Bengali people in bank capitalism
.and bank-management. At the outset we have to observe
(1) that a good deal of Bengali banking is carried on along
6 Review of the Trade of India in 1930-31, p. 204.