GIPE-PUNE-OIIOI2 - DSpace@GIPE

THE BANK CAPITALISM OF YOUNG BENGAL 141
While on this pathway upward an inspiration may
well be drawn from British banking of the last two
decades (1905-1926).
In Jan1}ary 1925 the deposits in the ten clearing banks
totalled £ 1,693,058,000 while in May 1926 the figure
was £1,626,909,000. The ten banks are the following:
(1) Bank of Liverpool, (2) Barclays, (3) Coutts, (4) Glyn
Mills & Co., (5) Uoyds, (6) Midland, (7) National, (8)
National Provincial, (9) Westminster, (10) Williams
Deacons .•
In January 1925, the ten banks made a total advance
of £834,818,000. This made up 49·3 per cent of their
total deposits (£ 1,693,058,000). But in May 1926
the advances totalled £893,332,000 against
£1,626,909,000 making a per centage of 54·9. In the
words of Mr. Beaumont Pease, Chairman of the Uoyds
Bank, most of these advance were absorbed by legitimate
business expansion.
On the basis of 1905 furnishing the 100, the
deposits, current accounts and note circulation of all
British banks (including the Bank of England) rose
to 303 in 1925 (from a total of £925,000,000 to
£2,803,000,000).
The amount of cash in hand, call and short notice
rose during the same period from 100 to 274 per cent
(from £253,000,000 to £692,000,(00).
And the rise in the amount of bills discounted, advances
and loans is from 100 to 289 per cent (from
£573,000,000 to £ 1,656,000,000).
It is important to observe that. during these 20 years
the banks followed in the main. the policy of maintaining
between 24 and 30 per cent of the total deposits