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'"'.tlAK.l- The Equations of Railway Industrialism (1825-1925) ~.l 1 I' 1 1 1 1 1 1 I 1 I 1 1 1 I I 1 1 I 1 1 1 1 1 I 1 I 1 I 1 1 1 1 1 1 1 1 1 1 1 ,12'0 fR"NCf 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 I 1 1 1 I 1 1 1 I 1 I 1 I 1 I 1 I 19'2 GERMANY s~ hALY I I I I I I 1 l..,j Ii 1 I 1 I 1 1 1 I 1 I 1 I 1 1 1 I 1 I 1 1 Is'o RUSSI" IN 41 EUROPE t t J II I IA III J~"1112"ttfllll I J IIIJJ J t±1 Ud:02"7J"AAN 8Z5 "9tr"'rTPf3;.¥rr'MfI"'r"r'T'}'LI"B"!''[i:8]'Ll'lfffflll,gINDIA "5 o· 0'7 \-,t.:.j-- '41 .... '50 '55 '60 '65 '70 '90 1910 '13 '25 India (1925) 1'9= Japan (1913) 1'9 = Italy (1869) 1'9 = France (1858) 1'9 ~Germany (1853) 1'9 -Great Britain (1841) I'g (To face p, 218)
THE RAILWAY INDUSTRY AND COMM:ERCE OF INDIA 219 ation the Balkan states including Greece, Eastern Europe .and Russia. A comparison with Japan in regard to the rate of progress would be illuminating. Japan too begins late, in 1874, twenty years later than India. But her velocity is remarkable by the Indian standard. From 1874 to 1913, i.e., in 39 years she catches up to India's conditions of 1925, for, as we have seen, in 1913 she possesses exactly , 1.9 km per 10,000 inhabitants (the Indian coefficient of 1925). India's 72 years = Japan's 39 years. The Japanese rate during this early period of her railroad history is, however, slower than France's and Italy's and of course considerably slower than Germany's during their early periods. Since 1913 there has been no question of India's overtaking Japan in the race for railway industrialism. Politically speaking, Japan, Italy, France and Germany are "great powers." But in regard to railway industry and commerce it is impossible to discover a "great power" standard. IS In 1925 Japan belongs to class III (with less than 5 km per 10,000), the same group to which India belongs, Germany and Italy to class II (between 5 and 10 km per 10,000) and France to class I (with more th::m 10 km per 10,000). Evidently one canr.ot assert that in order to be appraised as a 19 Sarkar: "Indiens Enlw;cklung im Vergl,,:ch zu Eur-Amerika:' Deutsche Rundo:;hau, Berlin, Ju'y 1930; "Aspetti e Problemi della moderns Econ~mia Indiana:' Annali di EconcJtnia, Milan, July 1930; "II Movimento industriale e commercial" nell' In :i:a odierna ed i suoi rapporti internazion· .ali," Commercia, Rome, September 1931; "Die Entwicklung und weltwirtschaftliche Bedeutung des moder!1en Indien," Indien (Stuttgart. Technische Hochschule, 1931.
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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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01'62 THE BANK CAPITALISM OF. YOUNG
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':16:4 THE BANK CAPITALISM OF YOUNG
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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 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
Page 285 and 286: WORLD-CRISIS: INDUSTRIAL REVOLUTION
Page 287 and 288: WORLD-CRISIS: INDUSTRIAL REVOLUTION
Page 289 and 290: 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 REVOLUTION
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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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