GIPE-PUNE-OIIOI2 - DSpace@GIPE

124 THE BANK CAP.ITALISM OF YP1J:-.IG BENGAl.
savings banks, co~operative credit societies and the like.
The nearest appr()~ch to a scientific comparison between
Italy and Bengal would consist in posing the per head
deposit in the Imperial Bank. the exchange banks ~d
large Indian joint~stock bank.sagainst this Italian average
of Rs. 17. Leaving aside the Ben.gali loan offices, co·
operative credit societies and savings banks we get the
following equation:
Italy (1927) 17 =2.6 India~ average (1929) 8~8·3.
Altogether, the average Italian should not appear to
be frightfully ahead of the average Bengali (or Indian)
in regard to bank deposits and banking habits. But it is
necessary also to remember that the deposit figures con·
sidered here, as given by the Bolletino mensile di statis·
tica, refer only to time deposits. The current depositshave
been excluded here but may be seen in one of the
tables exhibited later. When all these figures are taken
into consideration, Italy should not appear to be as poor
by the Bengali standard as at first sight she looks. And'
yet the comparison is still faulty. In .regard to Italy we
have taken only the big nine among the commercial
banks. It is well known that in Italy as in other countries
the name of medium and small banks is legion. So far as
Italy is concerned the actual nu.mber, after amalgamations
and liquidations of the period 1926.30, is 1411.
British, French ancl German Bar..king about ,1870
(
Italy represents certain aspects of shortcomings in the
banking cif'modern so";ereign powers. It is, further, very:
important to remember in this connection that the earlier
stages of modern joint-stock banking in the other countries