Ours, according to official estimates, is about L2 per
head, and according to non-official estimates, only a little
more than L1 per head. Your imports per head are about L13:
ours about 5s. per head. The total deposits in your Postal
Savings Bank amount to 148 million sterling, and you have in
addition in the Trustees' Savings Banks about 52 million
sterling. Our Postal Savings Bank deposits, with a population
seven times as large as yours, are only about 7 million
sterling, and even of this a little over one-tenth is held by
Europeans. Your total paid-up capital of joint-stock companies
is about 1,900 million sterling. Ours is not quite 26 million
sterling, and the greater part of this again is European.
Four-fifths of our people are dependent upon agriculture, and
agriculture has been for some time steadily deteriorating.
Indian agriculturists are too poor, and are, moreover, too
heavily indebted, to be able to apply any capital to land, and
the result is that over the greater part of India agriculture
is, as Sir James Caird pointed out more than twenty-five years
ago, only a process of exhaustion of the soil.
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