GIPE-PUNE-OIIOI2 - DSpace@GIPE

166 THE BANK CAPITALISM OF· YOUNG BENGAL
The origins of modem banking are associated in
France md Germany as elsewhere with the gradual disappearance
of the cash habit and· its replacement by the
bill habit. At the present stage o.f India' s economic developments
perhaps it should be possible to promote the
bill discounting habit and to create a regular bill market
here and there and everywhere through the efforts of the
legislature as well as vf private commercial houses,
chambers of commerce, industrial associations etc. The
simplest and easiest form of these bills will naturally be
the documents representing goods shipped from hazar to
hazar. The system will automatically involve the establishment
of warehouses, goods offices and allied institutions
as regular links. For the present the question of
industrial bills- is perhaps likely to be premature. And
although agricultural bills might be considered to be
risky, a move might be made through the co-operative
societies in order to create and popularize instruments
representing raw produce as well as landed properties.
. In the interest of promoting the bill habit and establishing
the discount market the government win have to
create facilities for the speedy transfer of mortgages and
mobilization of resources. Our peasants, artisans and
fu.~rchants,-all can and have to be educated up to the
handling of documents of modem credit. . The law t;an
help them to a certain extent. Individual firms of substantial
importance can pioneer the movement to a great
ixtent. And finally, the organized associations of
•
bierchants, industrialists and cultivators ought to Cal'ly
on propaganda in behalf of modem methods of business
organization.