Почему замешение в Индии английского текстиля из хлопка местным больно ударило по интересам U.K.? Потому что падение доходов от вывоза из U.K. товаров не было скомпенсировано увеличением доходов от вывоза капитала в Индию. Причины:
1) Хлопковая промышленность Индии принадлежала в основном коренным народам Индии
Buchanan, Daniel Houston. “Development of Capitalistic Enterprise in India.” 1934 г.:
“Persons of British birth have been mainly responsible for the growth of plantation industries and for coal and jute working in Bengal; but native Indians, headed by the sometime immigrant Parsees, have developed cotton manufacturing.
They now own practically all the cotton mill shares, perhaps over half the jute mill shares, much of the coal shares, nearly all the iron and steel shares and are securing large ownership of government loans and government-sponsored enterprises.
A larger amount of capital is invested in cotton than in any other Indian factory industry. Whereas foreign capital—nearly all British—has dominated in coal mining, railway building and in the manufacture of jute, it has had only a small place in cotton manufacture. One of the best informed cotton men in India says that 99 per cent of its capital is Indian owned. In 1921, of 345 cotton mills, only nine were entirely owned by Europeans and Anglo-Indians as against 322 entirely owned by Indians. This capital, after a start with money made in the opium, yarn and cloth trade in China and in the great cotton boom during the American Civil War, has been collected from small investors and saved from the profits of earlier mills.
In 1921, for India as a whole, 34.6 per cent of the managers were Europeans. By 1925 this percentage was only 28.4.
2) Английские Exchange Banks и местные Indian Joint Stock Banks практически не участвовали в финансировании создания хлопчатобумажной промышленности и кредитовании для снабжения рабочим капиталом.
Исторически банки в Индии стали создавать английские торговые компании. Но они не смогли потеснить местных банкиров на внутреннем рынке.
Buchanan, Daniel Houston. “Development of Capitalistic Enterprise in India.” 1934 г.:
“As the companies owning these banks were interested largely in foreign trade the banks had much of their business in that field. At least four such note-issuing banks had been in existence by 1832. Though also concerned with internal trade and industry they were unable to deprive the native bankers of their business.
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These various banking enterprises have had comparatively little effect upon industry. The private bankers, by means of their position as local men of wealth, have furnished some funds for industrial enterprises. Their names have doubtless helped induce the public to buy shares and to deposit their surplus funds. The joint-stock banks have furnished some working capital, as has the Imperial Bank recently. But this aid has been limited to well-established concerns, managed by well-known persons.
It was the creation of a more suitable environment for industrial investment, on however restricted a scale, which induced Indian trading communities to enter modern industry in a big way, first in the twenties and in much more significant numbers in the thirties. The case of the Chettiars can be cited to illustrate our point. The Nattukottai Chettiars came from the districts of Ramnad and the State of Pudukottai in Madras; they had a very highly developed agency system for money-lending and trading and were the chief banking and money-lending community in Madras. They were also extremely important in the internal trade and finance of the whole of South-East Asia. But they did not enter largescale industry in significant numbers until protective tariffs had been imposed on the import of cotton textiles, and the grip of the Europeans on the economy of southern India had been loosened in other ways.
The total capital invested in Indian cotton mills is about Rs. 800,000,000 or $300,000,000.
In 1919 it was estimated that additional borrowed working capital used in the industry as a whole was Rs. 100,000,000.”
800’000’000 рупий = 80 крор (crore)=8000 лак (lakh)=60 млн. фунтов
Как видим, после того, как Индия ввела заградительные тарифы против английского текстиля из хлопка, в местную текстильную отрасль стали вкладывать деньги местные банкиры. Увидев это, в нее стали инвестировать все слои индийского общества, имеющие свои капиталы – главы княжеств, купцы, госслужащие и т.д.
Кому интересно больше узнать о местных индийских банкирах, можете прочитать пост ниже.
В Индии, кроме трех Президенских банков (впоследствии объединившихся в Imperial Bank of India, вели дела европейские акционерные банки (Exchange Banks) и местные акционерные банки (Indian Joint Stock Banks)
THE ECONOMIC JOURNAL
JUNE, 1921
H. F. Howard, THE IMPERIAL BANK OF INDIA
“The Exchange Banks, though their operations are not limited to India, play a most important part in Indian trade. The nature of their business is generally known, and does not, therefore, call for any detailed description here. But it may be said that their activities in regard to Indian trade are largely bound up in the financing of foreign commerce at the sea-ports. Like other banks, they receive deposits in India and, indeed, seek to attract these in order to obtain the funds required for the purchase (or discount) of export bills of exchange. Since 1913 their Indian deposits have grown from 30 crores to about 74 crores, but such deposits are collected almost entirely at the sea-ports.
The Indian Joint Stock Banks, which now number ninety five with 230 branches, include a certain number of substantial institutions conducted on modern line..”
Buchanan, Daniel Houston. “Development of Capitalistic Enterprise in India.” 1934 г.:
“Whereas in 1926 India had, excluding the Imperial Bank of India, 73 banks with a total paid-up capital, surplus and reserves of Rs. 119,200,000 ($42,912,000)”
Депозиты в Indian Joint Stock Banks в 1919 г. достигли размера 61,27 crores. Собственный капитал The Indian Joint Stock Banks составлял в 1926 г. менее 12 крор.
Вспомним, что “The total capital invested in Indian cotton mills is about 800’000’000 рупий = 80 крор”.
Составив представление о размерах собственных средств и привлеченных депозитов акционерных банков, обратимся к материалам Madras Provincial Banking Enquiry Committee, Vol. 1, Report 1930
В нем упоминаются общины, специализирующиеся на банковских операциях.
400. The banking communities are in fact of very ancient origin and their business as bankers and their instruments of credit or hundis go back to very early days in the history of India.
59. The indigenous bankers in this Presidency must include the Indigenous banking communities of Marwaris, Multanis, Nattukottai Chettiyars bankers, and Kallidaikuruehi Brahmans.
60. The Nattukkottai Chettiyars have their home in the Chettinad Nattukkottai in 58 villages in the Banin ad district of this Presidency and 20 Chettiyars. in the adjacent territory of Pudukkottai vState and their total popu- lation according to the census of 1921 is 40,500.
399. There are, however, certain communities which carry on business with their caste esprit-de-corps at their back and with large funds of their wealthier members which will be at their disposal at special rates and terms for use in what is believed to be sound business on the customary lines of finance practised by the particular community. Such are the Nattukkottai Chettis, the Multanis, the Marwaris, the Kallidaikurichi Brahmans, in this Presidency.
402. The bulk of the Nattukkottai Chettiyar community is outside of the Madras Presidency.
We have had two or three estimates of their resources.
Their banking business has thus a capital of about 50 crores while the same authority puts borrowing and deposits of various kinds at 25 crores more of which about 8 crores is invested by Chettiyars and known as their thanadu maral deposits. The owned capital is thus Rs. 58 crores and borrowings about 17 crores giving a total working capital of Rs. 75 crores.
But another estimate made by a Chettiyar banker puts it at 80 to 90 crores in cash and 15 to 20 crores in house and other property and about 5 crores in jewels while another 15 crores are borrowed from people who are not Chettiyars."
Как видим, рабочий капитал только одной банковской общины Nattukkottai Chettiyar сопоставим с суммарным рабочим капиталом всех Indian Joint Stock Banks.
Причем представители общины открывали и акционерные банки.
58. There is only one private bank in the Presidency, viz., the Bank of Chettinad, Limited, registered as such under the Companies Act and it has only recently been registered. It is a limited company formed for carrying on the business of banking and also all other lines of business which Nattukottai Chettiyars have been accustomed to do in India, Burma, Ceylon, the Straits Settlements, Federated Malay States, Indo-China, etc., with a subscribed capital of Rs. 2 crores and a paid-up capital of Rs. 1 crore. The head office of the bank is in Chettinad. It was promoted by the Hon’ble the Raja Sir Annamalai Chettiyar of Chettinad, who is the Chairman of the Board of Directors. It has already established about 40 branches in India, Burma and Ceylon..
The hank is not promoted to function as a competitor to any one of the other joint-stock hanks but to carry on the indigenous system of banking under modern lines. The object of the promoter of the hank is to adapt the indigenous system of conducting banking business as far as possible to the joint-stock system of banking on western lines..”
Представители банковской общины:
Sir Rm. M. Ramaswami Chettiar, старший брат Annamalai Chettiar. Основал в 1907 г. акционерный “Indian Bank”, существующий и поныне.