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THE RAILWAY INDUSTRY AND COMMERCE OF INDIA 213 In comparison with Italy India's position is not so unfavourable. In 1870 Italy had 26,800,000 inhabitants and 5,820 km of railways, i.e., 2·1 km' per 10,000. We get the following equation: 'I~aly (1870) 2·.1 = 1·1 India (1925) 1'9. In 1870 Italy18 was thus but a step ahead of India in 1925. One might remark that in 1868-69 ·ltaly was in the same condition as India in 1925. Altogether, then, India in 1925 does not belong to the •• recent" epoch of moaern· transportation technique as embodied in railway industrialism so far, at any rate, as the economic history of Italy, France and Germany is concemed. In order to discover the Indian conditions of 1925 in these three countries one will have to rummage the railway statistics of the world J?revious to 1870. As in the other items of the industrial revolution, in railway industry and commerce also Great Britain is the pioneer. The first railroads of the world were constructed in England in 1825, in the U.S.A. in 1827 and in France in 1828. Germany was ten years, Russia thirteen years, and Italy fourteen years behind the British Isles in the first construction of railroads as a new transport agency. Down to 1850 the railway origins of ttirteen pioneering countries are indicated below in the chronological order: 18 'The Italian figures presented, hltre are slightly different from those given in Compendia Statisti"o 1930 (published by the Istituto Centrale di Statistica. Ron:.e\ p. 221. But in the interest of uniformity thc; figures of the Railway Year.Beok (London) are being used in connection with economic history.
214 THE RAILWAY INDUSTRY ~\NU \,;UMMJ:;!U';J:; UI- l;'11DIA 1825 British . Isles 21827. U. S. A. 3 1828 France 4 ~183 5 Belgium 5 1835 Germany 6 1836 Canad~ 7 1837 Austria 1 8: ·1838 Russia 9 1839 Italy 10 1844 Switzei:land 11 i 846 Hungary 12 1847 Denmark 13 1848 Spain It is to be observed that none of these pioneering countries belong to Asia, Africa or South America, and none except Hungary belongs to the "Balka... -::omplex.", During the first quarter of a century of the world's railway industry India is accordingly unknown as a factor ~ The railway origins of certain countries since 1850 are described below: 1 1851 Brazil 6 1857 Argentina 2 1851 Chile 7 1868 Mexico 3 1853 India 8 1869 Uruguay 4 1854 Norway 9 1874 Japan 5 1856 Sweden 10 1883 China .. .India thus begins 28 years after Great Britain, 25 years· after France, 18 years after Germany and 14 years after Italy. In so far as the technical primitiveness of mankind such as is manifest in the absence of railways is concerned, we get- the following socio~economic equations: India (1852)=Great Britain (1824) =U. S.A. (1826) =France (1827) =Germany (1834) =Russia (1837) = Italy (1838)
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Dhananjayarao Gadgil Library . 1111
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(') . \ , l '~/
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PREFACE These studies in applied ec
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The material for these studies in w
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vii The material for these studies
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of economic theory and history to t
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Preface CONTENTS Principles of Cont
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CHART I The Three Equations of Comp
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2 PRINCIPLES OF CONTROL OVER Accord
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4 PRINCIPLES OF CONTROL OVER office
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6 PRINCIPLES OF CONTROL OVER Privat
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8 PRINCIPLES OF CONTROL OVER consis
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10 'PRINCIPLES OF CONlROL OVER to m
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12 PRINCIPAL OF CONTROL. OVER and b
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14 PRI;..JCWLES OF CONTROL qVER The
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16 PRINCIPLES OF CONTROL OVER :are
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'.. I~. [>RINCIPLES OF CONTROL. OVE
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o 20 PRI~CIPLES . OF COXIROL OVER w
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u'Ll:;300:000' 'Iewasfur·
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The Re-piaking of the Reicbsbank an
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.fQ:ndioning, first and foremost, I
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28 THE RE~MAKING OF THE REICH5BANK
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3'0. THE RE~MAKING .OF THE REICHSBA
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32 THE RE-MAKING .oF THE REICHSBANK
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34 THE RE-MAKING OF THE REICHsBANK
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36 THE RE-MAKING OF THE REICHSBANK
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38 THE RE-MAKING OFTHEREICHSBANK Do
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40 THE RE-MAKING OF THE RElCHSBANK
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46 THE· RE-MAKING OF THE REICHSBAN
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~8 . THE RE-MAKING OF THE REICHSBAN
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50 THE RE~MAKING OF THE REICHSBANK
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56 THE RE~MAKING OF THE RElCHSBANK
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58 THE RE-MAKING OF THE RElCHSBANK
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(>2 THE RE-MAKING OF THE REICHSBANK
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64 THERE-MAKING OF THE REICHSBANK m
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66 THE RE~MAKING O~ THf: REICHSBANK
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AND THE BANQUE~DE FRANCE 67 Bills D
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CHART III Banque de France t/isat/i
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;gO THE RE~MAKING OF THE REICHSBANK
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7.2 TIlE RE-MAKING OF THE REICHSBAN
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H THE RE~MAKING 01;' THE REICHSBANK
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76 THE RE-MAKING' OF THE REICHSBANK
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78 THERE-MAKING 01;' THE,REICHSBANK
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'So THE RE-MAKING OF THE REICHSBANK
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The Bank Capitalis,m of Young Benga
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84 THE BANK CAPITALISM OF YOUNG BEN
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(1) Imports THE BANK CAPITALISM OF
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THE BANK CAPITALISM OF YOUNG BENGAL
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THE BANK C~PITALISM OF YOUNG BENGAL
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THE BANK CAPITALIsM OF YOUNG BENGAL
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CHART V Progress of "Large" Indian
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I P THE BANK CAPITALISM OF YOUNG'BE
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J,1,4 THE B~N~ CAI:'I1.:ALtSM OF YO
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-116 THE BANK CAPITALISM OF YOUNG B
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1·1 a THE BANK CAPITALISM OF YOUNG
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1 ~Q THE BANK CAPITALiSM OF YOUNG B
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122 THE BANK CAPITALISM OF YOUNC·
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124 THE BANK CAP.ITALISM OF YP1J:-.
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126 THE BANK 'CAPIT ALISM OF YOUNG
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128 THf: BANK CAPIT~ISM OF YOt:JI'I
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i1.30 THE BANK CAPITALISM OF YOUNG
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:132 THE BANK CAPITALISM OF YOUNG B
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H4 THE BANK CAPITALISM OF YOUNG BEN
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;136 THE BANK CAPITALISM OF YOUNG B
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138 THE BANK CAPITALISM OF YOUNG BE
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'~40 THE BANK CAPITALISM OF YOUNG B
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142 THE "BANK CAPITALISM OF YOUNC.
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-.144 . THE BANK CAPITALISM OF YOUN
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J 46 THE BANK CAPITALISM OF YOUNG B
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.148 THE BANK CAPITALISM OF YOUNG B
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;150 THE BANK CAPITALISM OF YOUNG B
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il52 THE BANK CAPITALISM OF YOUNG B
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GRoup I Name Capital and Reserve De
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11 56 THE BANK CAPITALISM OF YOUNG
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;1 58 THE BANK CAPITALISM OF YOUNG
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160 THE BANK CAPITALISM OF YOIDIG B
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Page 187 and 188: 166 THE BANK CAPITALISM OF· YOUNG
Page 189 and 190: 168 THE RAILWAY INDUSTRY AND COMMER
Page 191 and 192: HU11-IE RAILWAY INDUSTRY AND COMMER
Page 193 and 194: 172 THE RAILWAY INDUSTHY .. At'/D C
Page 197 and 198: 176 tHE RAILWAY INI?USTRY AND COMME
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Page 201 and 202: mE RAIL VIA Y INDUSTRY AND COMMERCE
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Page 213 and 214: 192. THE. RAILWAY INDUSTRY AND COMM
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Page 227 and 228: 206. THE RAIL WA Y INDUSTRY AND COM
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Page 241 and 242: THE RAILWAY INDUSTRY AND COMM:ERCE
Page 243 and 244: Traces of Rationalization in Indian
Page 245 and 246: RATIONALIZATION IN INDIAN BUSINESS
Page 249 and 250: RATIO:'-lALlZATION IN INDIAN BUSINE
Page 251 and 252: RATIQ'lAUZATlONIN INDIAN BUSINESS E
Page 253 and 254: R~TIONALIZATION IN INDiAN BUSINESS
Page 255 and 256: RATIO:'IIAU,ZATION IN INDIAN BUSINI
Page 257 and 258: RATIO~ALlZATION IN INDIA~ BUSINESS
Page 259 and 260: RATl~AUZAl'ION IN 4NDlAN BUSINESS E
Page 261 and 262: RATIO:-.lALIZATION IN INDIAN BUSINE
Page 263 and 264: RATIONALIZATION IN INDIAN BUSiNESS
Page 267 and 268: RATIONALIZATION ININDIAS BUSINESS E
Page 273 and 274: RATIONALIZATION IN INDIAN BtJSINESS
Page 281 and 282: RATIO:'lllALIZATION IN INDIAN BUSL"
Page 283 and 284: Tbe World-Crisis in its Bearings on
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WORLD-CRISIS: INDUSTRIAL REVOLUTION
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WORLD..
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WORLD~CRISIS : INDUSTRIAL REVOLUTIO
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CHART VII Post-war expansion of tra
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272 WORLD~CRISIS: INDUSTRIAL REVOLU
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274 WORLD-CRISIS: INDUSTRIAL ~EVOLU
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276 W::RLD-c..~SIS: K'IIJt]STRIAL R
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WORLD-CRISIS: INDUSTRIAL REYOLUTION
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CHART IX Vage and Cost of Living In
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282 WORLD~CRISIS: INDUSTRIAL REVOLU
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284 WQRLD~CR'ISIS: DIDUSTRIAL REVOL
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286 WORLD~CRISIS : INDUSTRIAL REVOL
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290 WORLD.CRISIS: INDUSTRIAL REVOLU
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292 WORLD-CRISIS: INDUSTRIAL REVOLU
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294 WORLD~CRISIS : [\lDUSTRIAL REVO
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298 WORLD-CRISIS: INDUSTRIAL REVOLU
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00 WORLD~CRISIS· : INDUSTRIAL REVO
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INDE:4 Absolute figures in internat
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INDEX 305 Financial rationalization
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INDEX 307 Poverty as world phenomen
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