GIPE-PUNE-OIIOI2 - DSpace@GIPE

_ THE BAISK CAPIT AJ"I~M OF· .. YOUN~. BENCAL 165
l:>anking b~sipess, namely, "industria! bank~ng':strictly
so called, are waiting to be tackled ~n India as elsewhere
~y these moneylenders as "individ!1al bankers." (See
the section on the morphology of bank-capi~alism in
france, supra. p.116).
There is another feature of semi-medieval ,and half ..
modernized societies to which attention has now to b~
invited because it is in this that modern banking encoun ..
• ., t •
ters a tremendous handicap to natural growth. The
handicap.which ex~sts to-day}n Indian business ~rg~niza,.~
tion existed among the .. traders and artisans of other
~o~ntries •. ~uring theninete~nth century.' W~ are
speaking of ~h~ absence of bills and co~mercial papers.
Our business people .are not yet used to handling them in
a regular manner or on a large scale. The "'cash habit"
~r the "money order" or the "value payable" system
~ontinues still in India t09ay to be as powerf~l as it was
long ago in the other countries. which have now consider­
~bly shaken it off. Uniess our people,learn to c~nsider bm~
rep~esen.ting goods bought, sold, shipped,-in transit or
j~ war~h~~~e,--:-to be valuable i~struments of ~xch~nge,
'jt i~ ~~tremely difficult . for moder~. banklIlg. to grow. '. .
, The' phrase "banking habit" does not'mean simply
,depos'iting mon~y. in a credit instituti~;n for a short; o~ a
J~r'tg term and'reaming to issue cheques onjt for purpOseS
!>f'making payment. The 1!l9st 'In;tPort~n:t .Item i~ the
,~"bank~ng ~abit" is, to be found In the transactions in the
hill&, discounting,of.i:>ills ... etc. In othe~ words .. as soC?z{'~s
we get beyond thec~eq~e hallit, which is to be ~on~~q~re~
~ut'a f¥.ipqergar~en aspyct iJ;l m~den~'q"editl ,~e:a!~ fa