GIPE-PUNE-OIIOI2 - DSpace@GIPE

THE BANK CAPITALISM OF YOUNG BENGAL 89'
currencies. The people of Bengal or of entire India may
be taken as having no part in the share~capital of these institutions,
except in so far as their shares as international
values may happen to be purchased in Bengal and in other
parts of India also. But in the deposits commanded in
India by these foreign banks the part of the Indian people
may be taken to be substantial.
Taking the population of India roundly at
320,000,000 we should have to credit the Indian per head
with Re. O~ 11 ~3 pies as share~capital and reserve so far
as larger joint~stock banking is concerned. And the
average deposit per head turns out to be Rs. 6~8~3 pies.
To these •• Indian" averages we have to add the •• exclusively
Bengali" averages in order to ascertain the total
Bengali per capita values in bank~capital and bank~
deposit.
Bengal and the Balk.an Complex in Bank.ing
Bengal, or for that matter, India is not the only
economic region where foreign finance plays the preponderant
part in commercial and industrial enterprises.
Many vf the politically independent countries of Eur~
America find themselves in the same condition, namely,
that of having their economic life influenced and control~
led by branches of foreign banks or by foreign b~nks.
dominating the indigeneous or national banks as share~
holders. One should belic;ve that the absence of bank~
ing habit as well as the absence of confidence of the
people in the banks managed by their own countrymen
characterize quite a large proportion of the peoples in
Europe and America. Thus considered. the people of