GIPE-PUNE-OIIOI2 - DSpace@GIPE

126 THE BANK 'CAPIT ALISM OF YOUNG BENGAL
been.able to show in the line of joint-stock-banking during
the period of· the Swadeshi Movement is not insignificant
in the background of the '+beginnings" of '·modern"
banking in the Western world. By 1870 neither France nor
Germany' attained or even approached the condition that
has rendered. them so. powerful to-day. Italy's position,
of course, was mu~h weaker then and even to-day is,
comparatively speaking, nothing but second grade, as 'We
have seen above. In 1870 "modern" japan, again,
hardly existed at all. It is about 1886 that the japanese
people began to novitiate in modern constitutional,commercial
and' industrial life.
Japanese Banking (1872-1927)
,In many respects japan is the Germany of Asia.
The modernism began in both countries almost at the
same time (c. 1870). And Japan's growth in banking as
in other items is almost phenomenal. Let us then try to
size Bengal up by the JapaneSe standard. 28
In 1927 the total deposits of all den