Page:Indian Journal of Economics Volume 2.djvu/510

 Sir W. B. Hunter of the Bank o! Madras was ques- tioned on the point by the Chamberlain Commission, he emphatically asserted that agriculturists should be assisted out o! the resources o! any central bank. When he was 'asked further about the difilcties o! 'assessing th agriculturist's credit, he answered "we have means of finding out the position of the agriculturists. There are title deeds and registration offices where you can find i! there are any encumbrances ". Indeed, one n the reasons brought forward [or the establish- ment o! a central bank was that: "It would form a link between what might be called the great banks o! the country and the agriculturists, that it would link the money markets together, and that. the Central Bank could undertake the task o! lending to agriculturists, perhaps through co-operative societies". An idea which had the sanction o! eminent bankers like Dunbar and Hunter deserves to be taken up again when the idea o! amalgamation is in the air, Nor can we neglect the possible help from industrial banks to co-operation, since is agriculture--an industry India's greatest industry which in the future will be carried on increasingly as s capitalistic system. But it might be argued that the. assistance from the credits which India has collected sbrosA will be only s temporary. windfall, while be expected from the presidency not very much can banks and other banking institutions which will have their hands ly tull in assisting the industrial revolution which will begin in India in the near [uture. Hence I venture to suggest a trd financial resource in the shape of loans from the fiduciary portion of the Paper Currency Eesee. In his work on "Indian Currency and Finance", Mr. Keynes has argued that "the manner in which the reserve against-the note issue is kept is needlessly restricted. Apart from that portion