tag:blogger.com,1999:blog-54808379382718265422024-02-18T23:25:17.512-08:00Marwari Identity: Tracing Its OriginThe Marwaris represent the only business community one would truly call pan-Indian. A “Time” magazine estimate published in 1963 mentions that the Marwaris controlled 60% of the assets in Indian Industry. The larger Marwari assets are also more widely dispersed than the Gujarati, geographically and Industrially. Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-5480837938271826542.post-63696631291574694352016-01-09T06:12:00.002-08:002016-01-09T06:12:32.426-08:00North-East Sentiment<div dir="ltr" style="text-align: left;" trbidi="on">
Just returning from a visit to Guwahati from a sourcing trip. Met a supplier who shared a common family name!<br />
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In my return flight had a curious co-passanger from Shillong who was interest to know what I do. When I said that we source some agriculture produce from this region, he says it's grown in abundant in this state and every year during the harvest season <b>people from Rajasthan come for buying it!</b><br />
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Marwari community has been in north-East for almost 2 Centuries now. It's strange the level of disassociation which the native residents still feel. Could it be a one off experience or a popular sentiment is something readers from NE can tell.</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com5tag:blogger.com,1999:blog-5480837938271826542.post-80606601956557434572014-05-18T00:52:00.001-07:002014-05-21T22:36:12.734-07:00Modi & Eastern India<div dir="ltr" style="text-align: left;" trbidi="on">
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The coming of NDA and BJP in complete majority in the current Lok Sabha election has created an euphoria in the entire nation. The media since last few days has been following Modi like a shadow and bringing its each movement on National Television.<br />
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In today's 'Sunday Times' the an article by 'Swaminathan Aiyar' nicknamed 'swaminomics' particualr caught my attention. He claims the popularity of the BJP in Uttar Pradesh and Bihar is attributed to the migrant workers who carried with them stories of the successful Gujarat model which they witnessed. It is a remarkable logic considering the fact that migrant workers from UP and Bihar form a sizeable workforce in western India and has been a target of regional parties like MNS and Shiv Sena since years now. </div>
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Now let us come over to the eastern part of India particular the states of West Bengal, Orissa, Seemandhra and Tamilnadu which elected regional parties in their constituencies.This somewhere displays that people residing in the eastern part of India do not share the sentiments of the nation and are un-aware of the happenings in other parts of India. </div>
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Here I would like to give an excerpt from a famous book titles 'India Unbound' written by the acclaimed author 'Gurcharan Das', it goes like "Draw a perpendicular from Kanpur to Chennai, the region on the right side of the perpendicular will take atleast 20 years to match the standards of the region on the left side"</div>
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The eastern states of Seemandhra, West Bengal & Orissa all fall under the region on the right side of the perpendicular and although North-East India can still be given a benefit for being distant, these states on the other hand form a part of mainland. </div>
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The biggest challenge for the new government more than anything else would be to get these regions which continues to vote in favour of regional parties in the mainstream of Indian economy. Hilly States and North-East India received attention from the center but the eastern states continued to be ignored. </div>
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Just before the election results the BJD offered support to BJP on grounds that it will award a special status to Orissa. With BJP getting clear majority in the Lok Sabha support of BJD is irrelevant however in the interest of the Nation and in the interest of people in Orissa the new government should keep its ego aside and seriously think of conferring Orissa with a special status and usher an economic revival of the status which is not just based on a few mining companies setting up shops there. This incentive will certainly play a vital role in bringing the people of Orissa in the mainstream of Indian Economy. </div>
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Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-627903637429716442014-05-09T06:13:00.000-07:002014-05-09T06:13:00.625-07:00Lavasa<div dir="ltr" style="text-align: left;" trbidi="on">
Lastr weekend I traveled to Lavasa alongwith my family. For those who havent heard of Lavasa, its an attempt to create a town on the western ghats somewhere between Lonavala and Mahabaleshwar. Contrary to Lonavala and Mahabaleshwar which were saw organic growth as a hill station due to its proximity to Mumbai and Pune, Lavasa is being developed as a planned hill station which would have an organized town plans on the lines of the Italian town 'Portofino'<br />
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Towns and Cities in India traditionally sprung up due to trade. Be it ancient towns which fell on caravan routes or British towns which were ideally a major sea port or a major railway junction as we have seen in our earlier posts.<br />
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New Delhi was one of the earliest 20th Century settlement in India which had a planned city layout. It was then followed by Bhubaneswar, Chandigarh and Gandhinagar which were formed adjacent to business centers to serve as administrative capital of newly formed states which would suit the palette of Politicians and Babu's who found the present city too cluttered and inadequate to be state capital.<br />
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Lavasa on the other hand might have a political backup but nevertheless it is certainly not planned as an administrative center to govern a country of a state.<br />
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For scores of residents from Mumbai and Pune, Lonavala served as a hill station since the 2 cities has been linked, best visited during the monsoon season to have a feel of the western ghats when it is at its best. As its just a 2 hour drive from both Mumbai and Pune it became the port of call for couples and families alike who would instinctively decide to have an outing with no prior planning required.<br />
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More recently 'Amby Valley' was developed by the Sahara group which gave access to the High Networth Individuals of these 2 cities who found it too down market to mingle around with the bike riding crowd at the same time wanted to enjoy the easy access which Lonavala offered.<br />
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Amby valley boosted of an Air Strip which would transport you from both Mumbai and Pune airports in a matter of minutes. Houses which are available for a fortune and would be envied in the Page 3 circles of Mumbai.<br />
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Coming back to Lavasa it offers neither easy access of Lonavala nor does it have the natural charm of an hillstation like Mahabaleshwar. Not only is the entire town under construction it almost feels like a set of a studio which was been erected only to be pulled down by the next few weeks. It seemed like a un-used public urinal which has been installed by an affluent Sarpanch with his own money outside the village without taking the locals into confidence.<br />
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To build a town one needs trade. For trade to take place one needs a strategic location and incentive for traders to come and conduct commerce. With 4.5 hours drive from Mumbai its location is far from Strategic and the only people you see there conducting commerce there are those connected to the hospitality industry.<br />
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Although Lavasa might boast of recreation and water sports facility the Bird's eye view of Lavasa by a Helicopter, which was being advertised at the hotel reception had been non-functional for last 1 year. The water sports although reasonably well maintained was definitely overpriced. The virtual gaming arcade had equipment not less than 10 yr old. 'Grandmas Recepies' on waterfront served highly acidic slush and a chocolate cookie which would take 2 hands to break!<br />
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This is clearly a sign of a town failing to keep up with the expectations of visitors which came in through high expectations.<br />
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Like the tourist of this town even the service providers are temporary. With the native population completely left out of the economic activities even the manpower being brought in from outside Lavasa lacked commitment to provide good quality service.<br />
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I hope the founding fathers of Lavasa take some lessons from history and are able to establish a resident population which can connect with the city and make it their home. Only then can it be suscessful as India's 1st post-Independence Hill Station.<br />
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Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-25285713121264376722014-02-17T03:57:00.002-08:002014-02-17T03:57:34.387-08:00THE ROAD AHEAD<div dir="ltr" style="text-align: left;" trbidi="on">
Marwari enterprise emerged from difficult times when a commercial enterprise was looked upon with suspicion and distrust not only by the government but also masses at the large. Post-liberalization ushered new opportunities which empowered members of different communities to take entrepreneurial ventures. As a result the role of Marwari enterprise became less relevant in present day economy wherein on floor knowledge of manufacturing operations or product knowledge are more important than just access to kinship network and access to credit.<br />
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India today is poised to be worlds 3rd largest economy by 2020. How can a community which has been credited to have given the Indian economy entrepreneurs generations after generations keep up with its values and name?<br />
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1. The suspicion for commercial enterprise in India post-independence reached its epic in 1970's when Income-Tax rates peaked upto a whooping 98%. It was natural for businesses to resort to dealings which by-passed the banking channels which resulted in entrepreneurs turning managers and manage all aspects of their business by themselves.<br />
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Today with Indian taxation laws being in par with their International counterparts it is no more required that a business evades taxes and under-value their sales. Infact it serves as a deterrent in valuation of one's company and effects ones credibility with banks.<br />
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As present day Marwari families gives good formal education to both boys and girls alike their skills are under-utilized in such an environment when all aspects of business are to be managed by the owner. In a globalized scenario when India had gained global competitiveness in various sectors being a good manager and attract talent to work in ones organization is a key to scaling up and growth.<br />
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2. Marwari enterpise has since long believed in capital valuation of their businesses by acquiring fixed assets which exist more or less in the form of NPA's in ones company. It is always healthy to have an asset which is working in favour of the company however higher capital valuation in the form of fixed assets defeats the purpose of business and shifts ones focus from one's core activity. Acquiring assets in the form of skilled manpower, brand value, better working conditions and good will is more important in scaling up a business.<br />
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3. Enterprise often rose in marwari community in form of proprietorship and partnership firms. The proprietor or the partners give a character to the company which defines it nature and culture in its workplace. In trading activity profits were driven by opportunism and speculation which depended on the risk the entrepreneur was willing to take. As heirs of these proprietor/partners came in they worked as apprentice and later formed their own firms.<br />
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In the manufacturing sector it takes years for one to build goodwill and SME's become knowledge centers which cannot be created overnight. Hence the need to re-structure the company comes in whereby the heir are able to join in the capacity of working partners and can gain benefit depending on the work they put in. </div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-20817523226449295302013-12-26T10:01:00.000-08:002013-12-26T10:01:21.820-08:00CONCLUSION - Present Day Relevance<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: large;">CONCLUSION - Present Day Relevance</span><br />
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As Indian economy became more liberalized since the beginning of 1980s there has been a spurt of entrepreneurship across the country. The IT boom since 1990s did not see any major Marwari business house taking to it.<br />
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As caste barriers reduced and movement of people across he country increased English and Hindi came to be spoken understood across the entire country. With improvement in banking and telecommunication today one no longer faces the communication barriers which early Indian entrepreneurs faced.<br />
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India is supposed to have one of the best eco-systems today and 60% of the start-ups are from individuals with less than 5 years of work experience. There are a number of venture capitalist with access to funds from India and overseas who are eyeing these start-ups and not only fund their ventures but also help them in executing their plans and help them sail through the first few difficult years of setting up an enterprise.<br />
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Social networking has enabled aspiring entrepreneurs to connect to people of similar ideas and even find mentors across the globe who would be able to provide an input.<br />
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Resource group, access to capital etc which have been cited as the success to Marwari enterprise are today at the disposal of any aspiring entrepreneur.<br />
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Then how relevant is the Marwari enterprise today?</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-67996027810583496392013-12-26T00:01:00.000-08:002013-12-26T00:01:22.141-08:00CONCLUSION - Critics<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: large;">CONCLUSION - Critics</span><br />
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The Bengali nationalist Prafulla Chandra Ray's autobiography (1932) is a well-known text documenting a modern Bengali ambivalence about the Marwaris. Ray unfavorably compared the more fiscally conservative Marwaris with the urban Bengali gentry. The former, Ray argued, earned a thousand times more than they actually spent; unlike the anglicized Bengal Zemindars, the Marwaris were "mere parasites" who "do<br />
not add a single farthing to the country's wealth, but have become the chosen instruments for the draining away of the country's wealth—the lifeblood of the peasants—to foreign lands." Despite his stated admiration for the Marwari penchant for hard work and business aptitude, Ray criticized Marwaris for not reinvesting their wealth back into the Bengal economy.<br />
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Even the Marwari diet, argued Ray, contributed to the economic drain. The Marwaris "survived" on dal, ghee, and wheat flour‚‚all items imported from outside Bengal. He wrote: "Whatever they spend finds its way back into their own pockets. Hence the Marwari or the Bhatia or the Punjabi, although they make their money and live in Calcutta, seldom add any wealth to Bengal nor is Bengal in any way materially benefited by their being residents of Bengal. They might as well have been residents of Kamchkatka or Timbuctoo."<br />
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PC Ray's comment about siphoning of Bengals wealth might have been relevant in the pre-independece era when India as a country did not come into being as a Sovereign country or due to over-romanticizing of a nationalist Bengali vouching for its region. However the community led government in Bengal couldn't do any better while in power post-independence. He would have been rather distraught after his founded company 'Bengal Chemicals' became un-manageable after his death and had to be nationalized by the Indian Govt. <br />
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Even the former Prime Minister of India JN Nehru commented in a rather helpless tone "Giving the drawbacks of the Marwari community and their ingenious practices they are still keep the money within the country and want their ashes to be immersed in the Ganga"<br />
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Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-80054058045466983682013-12-25T23:28:00.003-08:002013-12-25T23:28:56.845-08:00CONCLUSION - Limitations<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: large;">CONCLUSION - Limitations</span><br />
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The '<i>bazaar' </i>market was the grounds for capital accumulation for the Marwari community. As capital got accumulated through trading and speculation same were invested in the manufacturing sector which was a natural extension of the the <i>bazaar </i>which but then had become an essential part of the Marwari culture and identity.<br />
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In an economy where manufacturing licenses were hard to come buy and the government controlled all aspects right from the quantity of a product produces to the price it was sold in the market the ingenious accounting system of <i>parta </i>developed by the Marwaris proved successful in the manufacturing sector during the license raj.<br />
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The '<i>Ambassador' </i>car manufactured by a Birla owned enterprise Hindustan Motors between 1950-1970s having a 'steering mechanism with the subtlety of an oxcart, guzzled gas like a sheik and shook like a guzzler became a symbol of India's sluggish Industrial sector where the marwari community had a major share.<br />
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Altough some critics might argue that Marwari enterprise flourished during this time next generation family members like Aditya Birla established Industries outside India in Indonesia and Malaysia to become global market leaders their respective Industry.<br />
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Another Limitation of the Marwari enterprise came was when the business reached a sizable level the promoters of the company would deploy family members at key decision posts which led to reduced accountability and discourage other people in the organization who would be worth that post.<br />
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Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-19933762492975017912013-12-25T02:28:00.000-08:002013-12-25T23:33:34.964-08:00CONCLUSION - Family Names<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: large;">CONCLUSION - Family Names</span><br />
<span style="font-size: large;"><br /></span>Until mid-nineteenth century Hindus all over India did not use family names. It was their first name followed by the fathers name which was commonly used. As the British used family names extensively families who came in touch with them and migrated to British controlled regions also adopted the system of using family names.<br />
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Traditional Marwari names provide many examples of the relationship between lineage and geographical aspects of identity, as well as connections to trade and occupation.<br />
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<b>1. Lineage:</b> Names formed from the suffix '<i>-ka</i>' being added to a nickname for eg. Himmatsingka would relate to an ancestor named "Himmatsing" who became opoular in the society and his successors came to be known as "Himmatsing Ka Beta" or "Himmatsing Ka Pota" literally meaning "Himmatsing's Son" or "Himmatsing's Grandson". Family names like Murar-ka, Goen-ka, Harbajan-ka, Harlal-ka. Khem-ka are some examples of prominent Marwari names which originated from an ancestor.<br />
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<b>2. Geographical Location:</b> Named formed from the suffix '<i>-wala', '-wal' or '</i>-ia'<i> </i>being added to a nickname would relate to the family last village/town of migration while migrating within Sekhawati region. for eg. Tibre-wal comes from <i>tiba</i>, a village in Khetri. Jhunjhun-wala, Dumre-wala, Khandel-wal, Ganeri-wala, Kanod-ia, Didwan-ia, Patod-ia, Ber-ia, Manglun-ia, Makhar-ia, Murmur-ia, Garod-ia, Singod-ia, Bagar-ia, Sultan-ia, Parasrampur-ia, Singhan-ia, Sanganer-ia etc can all be traced to existing villages in the Sekhawati region.<br />
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Some <i>Bania</i><b style="font-style: italic;"> </b>families form 'Bhiwani' region of Haryana role to prominence in the trade circles used 'Agarwalla' or 'Agarwal' as their official family name however they continue to be referred to as <i>Bhwani-wala </i>(pronounced as <i>bihani-hala</i>) by the older members of the community.<br />
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<b>3. Occupation: </b>There is no thumb rules to family names originating from occupations. Here are a few examples and their meaning<br />
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<b>a. Modi:</b> This family name is used across by Parsis, Gujarati Banias and Marwaris. Modi means 'Official Supplier'. Armies maintained by the princely states shifted from region to region to fight wars hence a Modi was appointed as the official supplier to the army who was responsible of arranging for provisioning and ratio for the army wherever it set its camp.<br />
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<b>b. Todi:</b> The name comes from the word '<i>toddy' </i>which is country liquor. As the British established cantonments in different parts of India supply of good quality alcohol was needed to keep the troops entertained. Until then their limited required which was confined to establishment at sea ports was met through imports. Shortage or lack of alcohol availability in the country side often lead to soldiers falling for illicit liquor and poisoned themselves. Hence Todi was appointed to ensure supply of quality country made liquor to its troops.<br />
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<b>c. Poddar:</b> Those who financed the state against right to collect land-revenue.<br />
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<b>d. Ruia</b>: Supposed to be derieved from Cotton<br />
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<b>e. Saraf: </b>Again a name found commonly in Gujarati and Parsis in the form of 'Shroff'. With the plethora of currency in circulation during pre-british times the money changer was reffed to as a 'Shorff' and its occupation as <i>Sarafi. </i><br />
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<b>4. Miscellaneous: </b>Decendents of Nawab 'Kaim Khan' established estates of Fatehpur and Jhunjhunu in 15th Century. 'Khemani' a popular family name among Marwari families suggest these families had connections with these nawabs. Aggarwal Choudhris of Fatehpur were intimately connected with these Nawabs.<br />
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Use of '<i>gotra' </i>like Mittal, Bansal, Singhal etc have also been in popular usage. In recent times traditional Marwari names have also been replaced simply by 'Agarwal'<br />
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Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-49755790133592478422013-12-24T05:13:00.000-08:002013-12-27T02:20:18.398-08:00OCCUPATIONS - Betting or Gambling?<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: large;">OCCUPATIONS - Betting or Gambling?</span><br />
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Rain Gambling or <i>"barsat ka satta" </i>has they call it in Hindi was introduced to Calcutta public life by the Marwaris sometime in the nineteenth century, either by the 1820s (as Marwaris claimed) or by the 1870s (as the colonial government claimed). Rain gambling was confined to Cotton Street in the heart of Burabazar in northern Calcutta.<br />
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During the rain gambling season, corresponding with the monsoon rains, dozens of people all negotiating with the Marwari-financed brokers who handled bets on how much rain would fall during a certain period of time and when. The rain water was collected in the so-called "Calcutta rain gauge ( means "drain"). The term "Calcutta " suggests the pan—North Indian character of the practice, and may allude to its site of origin.<br />
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Anti-gambling legislation in British India initially took effect only in the three major cities of the colonial presidencies (Bombay, Calcutta, and Madras) after 1856. Subsequent pieces of legislation expanded the geographical jurisdiction of the law to outlaw gambling within ten miles of any railway station house in the (country stations and districts). But the major problem the British faced in such legislation was crafting a legal definition of gambling.<br />
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Marwari practices of "rain gambling" came to the attention of the Bombay Legislative Council several years after the passage of the general Anti-Gambling Act of 1886, when a group of Bombay Marwari rain gamblers took their case to the High Court. The court ruled that gambling on the rainfall did not fall under the scope of the 1886 Act. Rain gambling, the defense had argued, operated on the principles of betting (which was legal),not gambling (which was illegal). The precedent used in the case was the 1889 Bombay High Court case of, which held that rain gambling was a form of betting and not a form of gambling.<br />
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In short, the distinction held that gambling required persons to take an active role, whereas betting did not. If it were to be classified as actual illegal "gambling," the so-called rain gambling required a contest and active participation, which could not be proved in persons merely watching the rain fall. Rain gambling was defined as a monsoon event, when bets were placed on the amount of rain that would fall within a three-hour period, a period of time known in Hindi as In order to calculate the precise amount of rain that had fallen, a tank was<br />
fitted with a spout from which the rainwater would overflow once a certain amount had fallen. Rain gambling, the defense argued, was really just a form of betting on a contingent event, without any kind of contest acted out between two persons. The defense argued that it was simply not possible for anyone to take an active role in the event, since rain gambling involved placing a bet, and then just watching and waiting to see if, when, and how much it would rain.<br />
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Even though laws had already been passed in England that outlawed wagers, bets, and gaming houses, similar laws had not been passed in India. This was partly because traditional Hindu law had permitted<br />
such wagers.<br />
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As existing anti-gambling law could not include rain gambling in its scope. A new act was then proposed that would specifically target rain gambling in Bombay.One of the official reasons for banning rain gambling in Bombay was that the practice had reputedly spread to other communities. The fear that rain gambling networks would now lure non-Marwaris, even poor Europeans, became a sufficient reason to attempt to put it out completely.<br />
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The passage of anti-rain gambling legislation in Calcutta did not go unnoticed by Marwari merchants. On the evening of March 25, 1897, a large group of Marwari merchants gathered in what newspapers described as a "monster protest meeting" at the Dalhousie Institute, a well-known Calcutta social club. The purpose of this unusual meeting was to protest the rain gambling bill under consideration by the Bengal Council.<br />
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While the 1897 rain gambling act did effectively put an end to large-scale rain gambling operations, other forms of gambling arose in the place of rain gambling, possibly operated by the same brokers and dealers who had managed the gambling on rain. By banning rain gambling and attacking opium-figure gambling as well, the government may have counted on the "native instinct" to gamble to encourage former rain-gamblers to take up gambling on the government opium exchange, thereby increasing the government's revenue.<br />
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Despite the immense popularity of gambling and speculation as Marwari pastimes, these activities are seldom acknowledged in Marwari narratives of self-description, such as business, caste, and family histories. People peak generally about the prevalence of speculation but are reluctant to speak about specifics, particularly regarding their own families. Biographical materials on various Marwari families also do not acknowledge,<br />
at least openly, that fortunes were built from gambling and speculation. In fact, family history accounts often attempt to boast that the family's wealth did arise from speculation.</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com1tag:blogger.com,1999:blog-5480837938271826542.post-21574490021830011022013-12-24T03:35:00.001-08:002013-12-24T03:35:29.897-08:00OCCUPATIONS - Industry & Manufacturing<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: large;">OCCUPATIONS - Industry & Manufacturing</span><br />
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Raja Govindlal Pitty, a leading Marwari merchant and banker of Hyderabad & Bombay bought over cotton mills in the 1870's<br />
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During the 1st World War, encouraged by a lack of competitive imported goods from abroad and government assistance, Indian industrialization took on some impetus. In eastern India for the 1st time major enterprise emerged that were Indian-owned. In trade too, Indians, among them Marwaris expanded their share.<br />
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Until World War 1, Marwaris had not been prominent in Industry. The early Bombay cotton textile factories were all founded by Gujrati Banias and Parsees. The Brilas were in the forefront in Industrialization of all Marwaris. It was estimated by an insider that they increased from a party Rs.20 lac to Rs.80 lac during the war. They went on to establish their first Jute mill in Calcutta in 1919, Cotton Textile Mill in Delhi in 1920 and started Gwalior Cotton Textile mill in Delhi in 1921.<br />
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At the dissolution of the Currimbbhoy and Petit Cotton mill group in the 1930's several of their Bombay mills were taken over by Marwaris.<br />
<br />
The protective tariff for sugar in 1932 led to the construction of a large number of sugar mills. Government encouragement helped the cement Industry. Birla built 3 giant sugar mills and Dalmia built 1. Ram Kishen Dalmia became a major factor in the Cement Industry.<br />
<br />
Resistance to the Industrial drive was however encountered. The Jute Mills Association refused to admit the Marwari owned mills, and the jute transport companies charged them discriminatory rates. But then economic strength of the large Marwari houses eas such that they were able to overcome these obstacles. </div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-71263981627734111012013-12-24T01:55:00.001-08:002013-12-24T01:55:07.362-08:00OCCUPATIONS - Commodities Trading & Speculation - Jute<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: large;">OCCUPATIONS - Commodities Trading & Speculation - Jute</span><br />
<br />
Jute has been grown in East Bengal for ages. Since 18th century it has been exported to Dundee in Great Britain from Calcutta where it was woven into <i>hessians </i>(woven-cloth) or sand bags and used by the Army in trenches during War.<br />
<br />
Jute was either sold to mills in Calcutta or shipped abroad. With a few exceptions the mills bought through European agents, and Indians could only under broker them. European brokers received 1.25% commission on purchase of raw material out of which 0.25% was passed on to Marwaris who acted as under-brokers or guaranteed broker.<br />
<br />
The Jute Balers Association of Calcutta had both European and Indian members, but was entirely dominated by the Europeans among them. By 1900 there were 74 balers on its rolls, of whom 49 were Marwaris. The Marwari balers and brokers found it difficult to be admitted to the Royal Exchange where Jute transactions were made. By 1909 an effort lead by Sir Badridas Goenka and other leading Marwari merchants resulted in the formation of the Baled Jute Association, which provided facilities for Marwari trading in Jute.<br />
<br />
By 1895 Scottish Jute Mill owners operating mills in Dundee established mills in Bengal. In the immediate pre-World War 1 period and during the way itself, Marwaris also entered <i>hessians</i> trade, formerly a European preserve.<br />
<br />
In 1917, the Birla Brothers established the first Indian office for the export of Jute in London and rapidly became 1 of the 3 leading Jute exporters. The office had to fight hard to get into the market and was not admitted to the "official"? Baltic Exchange for several years.<br />
<br />
Speculative gains recieved by various Marwari businessmen enabled some of them to start industries right after the World War 1. GD Birla and Sarupchand Hukumchand of Indore started Jute mills in 1918-19. These were the 1st large Indian Controlled Jute Mills.<br />
<br />
<br />
<br /></div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com2tag:blogger.com,1999:blog-5480837938271826542.post-84409652592601310212013-12-20T10:52:00.001-08:002013-12-23T01:57:28.290-08:00OCCUPATIONS - Commodities Trading & Speculation - Cotton<div dir="ltr" style="text-align: left;" trbidi="on">
<h2>
Commodities Trading & Speculation - Cotton</h2>
<div>
In 1788, the Governor General (at Calcutta) was requested by London to encourage<br />
growth and improvement of Indian cottons to meet the requirement of the Lancashire<br />
textile industry.<br />
<br />
By 1793, the Court of Directors of East India Company in London revised their policy to<br />
<br />
a. Increase import of raw materials<br />
b. Increase the export of British manufactured goods.<br />
<br />
By 1850, India accounted for almost one-sixth of the total textile exports from England and also became the largest consumer of British textiles. India was thus reduced from the position of a supplier of manufactured cotton goods to that of a supplier or raw cotton, for the British textile mills.<br />
<br />
In 1820's the <i>ryotwari </i>system of land revenue was introduced in Madras Presidency. In the later years it was extended to Bombay Presidency. In the ryotwari system every registered holder of land was considered a Propritor and paid directly to the government.<br />
<br />
It was introduced as an alternative to the <i>zamindari system</i><b style="font-style: italic;"> </b>of land revenue which was practiced in Bengal Presidency which had generated a class of pest like blood sucking landlords which did not contribute significantly to the overall revenues.<br />
<br />
The <i>ryotwari </i>allowed the landowner to gift, sale and mortgage his property. This allowed the land owner for the 1st time in history to obtain a cash loan against land.<br />
<br />
As land now became a collateral Marwari money lenders who made inroads into cotton growing region for financing cotton cultivation. <br />
<br />
When American Civil war broke out in 1861 there was a widespread belief in Britain that the supply of cotton from subsidiary sources especially India would keep the mills running. However in reality the total quantity of raw cotton imported into Britain from India was merely 20%.<br />
<br />
The reason for this was the short-staple cotton grown in India was unsuitable for British Mills which were equipped for use of American long-staple variety.<br />
<br />
The government stepped up measures to cultivate cotton in India. Under an executive order wasteland owned by the government could be acquired and held in fee simple by their owners and their heirs in perpetuity. This enabled Marwaris to amass huge land holdings which stayed with them until the Land ceiling act was imposed in 1976<br />
<br />
By 1860 railroads from Bombay had extended until Nagpur trespassing Vidharbha region. This region having deep black soil and scanty rainfall coupled with railroad access to Bombay Port proved ideal for cultivation of cotton.<br />
<br />
Moneylending for cultivation of cotton enabled the Marwaris to obtain tighter controls over the cultivators produced which led to natural extension into its trading and ginning. The prices of cotton increased manifolds which made farmers cultivate cotton instead of food grains and at times they even plowed down food crops to sow Cotton<br />
<br />
The news of American Civil ware coming to and end reached India on 1st May 1865 and Britain again turned to American for raw cotton ending the short-lived glory of the Indian saple. Some business families laid the foundation of a stable and prosperous business on the basis of the profits earned in speculation during the Civil War years.<br />
<br />
<br />
<br />
<br /></div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-63194684778557073112013-09-01T00:06:00.005-07:002013-09-10T05:08:24.884-07:00OCCUPATIONS - Commodities Trading & Speculation - Opium<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<h2 style="text-align: left;">
Commodities Trading & Speculation - Opium</h2>
<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">English East India
company increased purchases of Chinese Tea following Pitt’s commutation Act of
1784 which lowered the duty on tea. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Export of raw cotton
from India to China which until then was used to finance purchase of Chinese
tea was unable to keep pace with its increasing imports in Britain. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The solution was
eventually provided by opium.</span><br />
<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Malwa</span><span style="font-family: 'Gill Sans MT';"> was well known for
its opium since the 16</span><span style="font-family: 'Gill Sans MT'; vertical-align: super;">th</span><span style="font-family: 'Gill Sans MT';"> Century. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The massive expansion
of opium expansion of opium exports from Bengal to china in the closing decades
of the 19</span><span style="font-family: 'Gill Sans MT'; vertical-align: super;">th</span><span style="font-family: 'Gill Sans MT';"> Century drew Indo-Portuguese and Indian traders to this
alternative source of supply. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><!--[endif]--><span style="font-family: 'Gill Sans MT';">
</span><span style="text-indent: -0.31in;"><span style="color: #3891a7; font-family: 'Wingdings 2';"></span></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Peasants in </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Malwa</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> received prices 3
times as high as in Bengal where opium trade was a state monopoly.</span><span style="color: #3891a7; font-family: 'Wingdings 2';"><br /></span><br />
<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Between 1805 and
1821, Daman was the main outlet for </span><span style="font-family: 'Gill Sans MT';">Malwa</span><span style="font-family: 'Gill Sans MT';"> opium however the big opium dealers conducted the trade
from Bombay. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The British
government made strenuous efforts to limit the </span><span style="font-family: 'Gill Sans MT';">Malwa</span><span style="font-family: 'Gill Sans MT';"> trade which it could
not monopolize like that in Bengal, but was un-</span><span style="font-family: Gill Sans MT;">successful.</span><br /> <span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">From 1830, the
government stopped its restrictive efforts and turned instead to encouraging
Bengal’s production and imposed a high duty on </span><span style="font-family: 'Gill Sans MT';">Malwa’s</span><span style="font-family: 'Gill Sans MT';"> production. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Rapidly </span><span style="font-family: 'Gill Sans MT';">Malwa</span><span style="font-family: 'Gill Sans MT';"> opium became the
major exported, and Bengal moved to the second place.</span><br />
<span style="font-family: 'Gill Sans MT';"><br /> </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The expansion of
poppy cultivation and opium trade brought into being other powerful groups of
vested interests having an enormous stake in this given economic system. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Of these the most
important were the class of money lenders cum small traders (</span><span style="font-family: 'Gill Sans MT';">sahookars</span><span style="font-family: 'Gill Sans MT';">), the native agents
connected with the native firms and the wholesale merchants. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">These were classes
heavily composed of immigrant merchants from Rajasthan and Gujarat.</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> </span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><!--[endif]--><span style="font-family: 'Gill Sans MT';">
</span><span style="text-indent: -0.31in;"><span style="color: #3891a7; font-family: 'Wingdings 2';"></span></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">In early 19</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in; vertical-align: super;">th</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">
Century several tens and thousands of Marwari merchants settled in the Opium
tracts of </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Malwa</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">It contained a fair
proportion of </span><span style="font-family: 'Gill Sans MT';">Shekhavati</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Aggarwals</span><span style="font-family: 'Gill Sans MT';"> connected to
prominent merchants in Calcutta. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Opium soon became a
major commodity for the local Marwari firms. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The books of “</span><span style="font-family: 'Gill Sans MT';">Sevaram</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Ramrikhdas</span><span style="font-family: 'Gill Sans MT';">”, a Marwari firm
based our of </span><span style="font-family: 'Gill Sans MT';">Mirzapur</span><span style="font-family: 'Gill Sans MT';"> in 1830’s show Opium
to have been their major commodity. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Another prominent
Marwari firm “</span><span style="font-family: 'Gill Sans MT';">Tarachand</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Ghanshyamdas</span><span style="font-family: 'Gill Sans MT';">” had branches all
through the opium tracts of </span><span style="font-family: 'Gill Sans MT';">Malwa</span><span style="font-family: 'Gill Sans MT';">.</span><br />
<span style="font-family: 'Gill Sans MT';"><br /></span>
<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The rapid oscillation
in opium prices, compounded by the unstable conditions of exchange between
India and China, where the opium was sold, rendered the opium market
particularly unstable. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The fact that their
fellow Marwari’s were already doing considerable business in Opium in the </span><span style="font-family: 'Gill Sans MT';">Malwa</span><span style="font-family: 'Gill Sans MT';"> area, made the
futures operations a natural extension for Marwari’s. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Regular opium futures
trading by Marwari’s in Bombay and Calcutta seems to have started in the
1830’s. It was in opium futures trade that several of the first Marwari
fortunes were made</span><br />
<span style="font-family: 'Gill Sans MT';"><br /></span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">By 1872 telegraph
services reached Jaipur. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Calcutta Marwari
merchants wired the current rates for opium to Jaipur. Agents in Jaipur used a system of mirrors to
flash the rates from hilltop to hilltop.<br /> </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">From the final hill
outside of Jhunjhunu a runner would come to the city and inform the merchants
of the rates. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">At night, If the
information needed to be supplied, gunpowder explosions were deployed along the
same route. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">By 1896 telegraph had
come to </span><span style="font-family: 'Gill Sans MT';">Churu</span><span style="font-family: 'Gill Sans MT';"> and </span><span style="font-family: 'Gill Sans MT';">Sikar</span><span style="font-family: 'Gill Sans MT';">. The trans-regional
speculation networks worked very well and profitably for several decades. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><br />
<span style="font-family: 'Gill Sans MT';"><br /></span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Opium sales were
Legalized in Hong Kong in 1845 after the British defeated China in the 1</span><span style="font-family: 'Gill Sans MT'; vertical-align: super;">st</span><span style="font-family: 'Gill Sans MT';">
Opium War. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Having gone through a
period of lull during the years of the Opium War the opium trade was in full
blast after the 2</span><span style="font-family: 'Gill Sans MT'; vertical-align: super;">nd</span><span style="font-family: 'Gill Sans MT';"> Opium War from 1860 onwards. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Calcutta became an
important market for opium speculation after its auctions in Bombay were
discontinued in 1830.</span><br />
<span style="font-family: 'Gill Sans MT';"><br /></span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Shivnarain</span><span style="font-family: 'Gill Sans MT';"> Birla, grandfather
of </span><span style="font-family: 'Gill Sans MT';">Ghanshyamdas</span><span style="font-family: 'Gill Sans MT';"> Birla began his
career was an independent opium speculator and for 10 years perfected the art
of opium speculation in which he made large gains. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">In 1896 four </span><span style="font-family: 'Gill Sans MT';">marwari</span><span style="font-family: 'Gill Sans MT';"> firms, “</span><span style="font-family: 'Gill Sans MT';">Devibaksh</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Jivanram</span><span style="font-family: 'Gill Sans MT';">’, ‘</span><span style="font-family: 'Gill Sans MT';">Ramnarain</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Bhojraj</span><span style="font-family: 'Gill Sans MT';">’, ‘</span><span style="font-family: 'Gill Sans MT';">Daulatram</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Lakshminarain</span><span style="font-family: 'Gill Sans MT';">’ and ‘</span><span style="font-family: 'Gill Sans MT';">Shivnarain</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Baldeodas</span><span style="font-family: 'Gill Sans MT';">’ came together in a
room at </span><span style="font-family: 'Gill Sans MT';">Kaligodam</span><span style="font-family: 'Gill Sans MT';"> Number 18, </span><span style="font-family: 'Gill Sans MT';">Mullick</span><span style="font-family: 'Gill Sans MT';"> Street in Bara
Bazaar to form ‘Bare </span><span style="font-family: 'Gill Sans MT';">Chaurastiya</span><span style="font-family: 'Gill Sans MT';">’ (the Gang of Four)
who speculates in Opium. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Afeem</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Chaurasta</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Ki</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Panchayat</span><span style="font-family: 'Gill Sans MT';"> enjoyed complete </span><span style="font-family: 'Gill Sans MT';">Juristicion</span><span style="font-family: 'Gill Sans MT';"> over the </span><span style="font-family: 'Gill Sans MT';">Marwaris</span><span style="font-family: 'Gill Sans MT';"> engaged in the Opium
trade.</span><br />
<span style="font-family: 'Gill Sans MT';"><br /> </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">This later took form
of a Cartel led by </span><span style="font-family: 'Gill Sans MT';">Sarupchand</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Hukumchand</span><span style="font-family: 'Gill Sans MT';"> and </span><span style="font-family: 'Gill Sans MT';">Harduttrai</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Chamaria</span><span style="font-family: 'Gill Sans MT';"> which enjoyed
complete monopoly on Opium trade. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">So fervent was
bidding that at one such sale in Calcutta in 1845 two speculators took the
price to a </span><span style="font-family: 'Gill Sans MT';">phenomenol</span><span style="font-family: 'Gill Sans MT';"> Rs.1,30,995 per
chest compared to the average price which ranged between Rs.400 to Rs.450 per
chest. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Swarupchand</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Hukumchand</span><span style="font-family: 'Gill Sans MT';"> conducted Rs.50 </span><span style="font-family: 'Gill Sans MT';">lakhs</span><span style="font-family: 'Gill Sans MT';"> business on the day
he </span><span style="font-family: 'Gill Sans MT';">opeaned</span><span style="font-family: 'Gill Sans MT';"> his </span><span style="font-family: 'Gill Sans MT';">calcutta</span><span style="font-family: 'Gill Sans MT';"> office in 1915 and
by the end of the year he was worth Rs.1 </span><span style="font-family: 'Gill Sans MT';">Crore.</span><span style="font-family: 'Gill Sans MT';"></span><br />
<span style="font-family: 'Gill Sans MT';"><br /></span>
<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Widespread Marwari
speculation on the exchanges helped raise the price of opium to levels that
were highly profitable to the colonial state. </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">By 1925, the export
of Opium had greatly diminished, and the speculative market in Opium figures
had come to a </span><span style="font-family: 'Gill Sans MT';">hald</span><span style="font-family: 'Gill Sans MT';"> because there was no
longer enough fluctuation in the price for bookmakers to profit from taking
bets on the daily market price.<br /> </span><span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">As a substitute for
Opium, the bookmakers took bets on the average of several prices of cotton in
the American market. </span><span style="font-family: 'Gill Sans MT';"><br /></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> </span></div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com2tag:blogger.com,1999:blog-5480837938271826542.post-78912502953524958252013-09-01T00:04:00.003-07:002013-12-27T02:10:11.487-08:00OCCUPATIONS - Money Lending<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
<span style="color: white;">
Money Lending</span></h2>
<div style="text-align: left;">
<span style="color: white; font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">In 18</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt; mso-text-raise: 30%; vertical-align: super;">th</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">
century, land revenue was the only definite source of funds for the rulers. The
rulers assigned revenue rights of a village or a group of village to rent
collector in lieu of the latter’s guarantee to pay a fixed sum of money to the
royal treasury. This enabled the ruler to dispense with elaborate
revenue-collection machinery and gave free hand to the rent collector to
collect maximum possible revenue. </span></span><br />
<span style="color: white;"><br /></span></div>
<div style="text-align: left;">
<span style="color: white; font-family: Times, "Times New Roman", serif;">
</span></div>
<div style="text-align: left;">
<span style="font-family: Times, "Times New Roman", serif;"><span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">The rulers however
didn’t deal with the rent collectors directly and positioned a group of
merchant money lenders (potedars) between themselves and the collectors. </span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><br /></span></span></div>
<div style="text-align: left;">
<span style="color: white; font-family: Times, "Times New Roman", serif;">
</span></div>
<div style="text-align: left;">
<span style="color: white; font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">The rulers used to
borrow money from potedars and issue them money warrant along with the letter
of credit. This letter used to be an order to the rent-collector to reimburse
the money to the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">potedar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">.</span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><br /></span></span></div>
<div style="text-align: left;">
</div>
<div style="text-align: left;">
<span style="color: white;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Potedari</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> was the earliest
form of banking and finance wherein the money-lenders and rent-collectors used
to collect money from people and also extend loans. </span></span></span></div>
<div style="text-align: left;">
</div>
<div style="text-align: left;">
<span style="color: white;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Rich merchants who
used to lend money to the kings were known as potedars. </span></span></span></div>
<div style="text-align: left;">
</div>
<div style="text-align: left;">
<span style="color: white;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">The word </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">potedar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> was used by the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Peshwa</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> rulers and later
picked up by the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">gaekwads</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> who collectively
ruled over </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Saurashtra</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">, </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Malwa</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">, </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Khandesh</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">, </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Marathwada</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> etc in present day
Gujarat and Maharashtra.</span></span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><br /></span></span></div>
<div style="text-align: left;">
</div>
<div style="text-align: left;">
<span style="color: white;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">“</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Poddar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">” a popular last
named used by prominent </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Mawari</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> families suggest
that they once used to function as potedars to such rulers.</span></span></span></div>
<span style="color: white;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span><br /></span>
<div style="text-align: left;">
</div>
<span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">
</span>
<div style="text-align: left;">
<span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><span style="color: white; font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">During the same
period at the other end of the country the erstwhile </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">princly</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> state of “</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Cooh</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> Behar” a part of
modern day West Bengal followed a similar system of land revenue which
facilitated Marwari merchants in the region. </span></span></span><br />
<span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><br /></span></span></span></div>
<span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">
<div style="text-align: left;">
</div>
<div style="text-align: left;">
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">A “</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jote</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">” was a revenue
paying estate and the owner of it was </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">caled</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> a “</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jotedar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">”. </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Jotes</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> could be had in the estate of Cooch Behar on payment of
a fixed revenue to the maharaja who was the owner of the soil. The state had
always recognized the right of ownership, subject to the payment of revenue at
the prevailing rates, although there was no written code extant from which such
a right could be proved.</span></span></div>
<span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Apart from </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jotedars</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">, “</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">chukhanidars</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">” were immediate </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">tenatns</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> to the raja.<span style="mso-spacerun: yes;"> </span>The </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">chukhanidar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> was an immediate sub-tenant or an under-tenant of a </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jotedar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">, a holder of certain
portion of the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jote</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> or farm. </span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">This kind of holding
was known as a “</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">chukhani</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">” which was saleable
under tenure, subject to the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">persmission</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> of </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jotedar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> for transfer.<span style="mso-spacerun: yes;"> </span>A </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">chukhanidar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> had the right to
occupancy and he paid to the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jotedar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> as rent, a sum not exceeding 25% over the rates that
the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">jotedar</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> paid to the state. </span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">“</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Chokhani</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">” again a popular
last name in Marwari’s indicate their use of land-revenue as an instrument for
money-lending activity. </span></span><br />
<div style="-ms-word-break: normal; direction: ltr; language: en-IN; line-height: normal; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; mso-line-break-override: none; punctuation-wrap: hanging; text-align: left; text-indent: -0.31in; unicode-bidi: embed;">
<span style="font-family: Times, "Times New Roman", serif;">
</span></div>
Crop-Financing or money-lending for cash crops like Opium, Jute and Cotton against land as a collateral gained popularity in British controlled territories. Same would be discussed in my next posts. </span></span><br />
<div>
<span style="color: white; font-family: Gill Sans MT;"><br /></span></div>
<div>
<span style="color: white; font-family: Gill Sans MT;">Here is an excerpt from a Book titled "Govind Narayan's Mumbai: An Urban Biography from 1863" which gives a vivid description of the Marwari Moneylenders operating in the city. </span></div>
<div>
<span style="color: white; font-family: Gill Sans MT;"><br /></span></div>
<div>
<span style="color: white; font-family: Gill Sans MT;">There are many Marwari sawakars who number over 1500. They road door to door with their books. These Marwaris lend amount ranging from eight annas (equivalent to 1/2 Rupee) to over 10,000-15,000 rupees to people. They seem to have a facility and the courage to lend money. However poor or bankrupt one may be, they are willing to lend some amount of money. In return they expect 10 for 1 or maybe 25 for 5. There have been instances where as sum of 4 rupees has been lent, made up to 5 ruppes using their sawai practice of adding a 1/4 to the principle, and 4 different bonds are issued. </span></div>
<div>
<span style="color: white; font-family: Gill Sans MT;"><br /></span></div>
<div>
<span style="color: white; font-family: Gill Sans MT;">Given below is a chart of the money which is to be returned to a <b>principal amount of Rs.4</b></span></div>
<div>
<span style="color: white; font-family: Gill Sans MT;"><br /></span></div>
<div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; margin-left: 118.8pt; text-align: center;">
<tbody>
<tr>
<td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.25pt;" valign="top" width="150"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b><span style="color: white;">Number of Days<o:p></o:p></span></b></div>
</td>
<td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 107.5pt;" valign="top" width="143"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: white;"><b>Principal + Interest</b><o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.25pt;" valign="top" width="150"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 5</span></o:p></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 107.5pt;" valign="top" width="143"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;">5 </span></o:p></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.25pt;" valign="top" width="150"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 30</span></o:p></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 107.5pt;" valign="top" width="143"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 25</span></o:p></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.25pt;" valign="top" width="150"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 60</span></o:p></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 107.5pt;" valign="top" width="143"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 50</span></o:p></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.25pt;" valign="top" width="150"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 90</span></o:p></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 107.5pt;" valign="top" width="143"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 75</span></o:p></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 112.25pt;" valign="top" width="150"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 120</span></o:p></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0cm 5.4pt 0cm 5.4pt; width: 107.5pt;" valign="top" width="143"><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<o:p><span style="color: white;"> 100</span></o:p></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="text-align: center;">
<span style="color: white;"><br /></span></div>
<div style="direction: ltr; line-height: normal; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-align: left; text-indent: -0.31in; unicode-bidi: embed;">
<span style="color: white; font-family: Times, Times New Roman, serif;"> According to the above calculations the rate of interest charged by these lenders was an astronomical <b>7100%</b></span></div>
<span style="color: black; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">
</span><br />
<div style="-ms-word-break: normal; language: en-IN; line-height: normal; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; mso-line-break-override: none; punctuation-wrap: hanging; text-align: left; text-indent: -0.31in; unicode-bidi: embed;">
<span style="font-family: Times, "Times New Roman", serif;"></span></div>
<div style="-ms-word-break: normal; language: en-IN; line-height: normal; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; mso-line-break-override: none; punctuation-wrap: hanging; text-align: left; text-indent: -0.31in; unicode-bidi: embed;">
</div>
<div style="-ms-word-break: normal; language: en-IN; line-height: normal; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; mso-line-break-override: none; punctuation-wrap: hanging; text-align: left; text-indent: -0.31in; unicode-bidi: embed;">
<span style="font-family: Times, "Times New Roman", serif;">
</span></div>
<div style="text-align: left;">
<span style="font-family: Times, "Times New Roman", serif;">
</span></div>
</div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com1tag:blogger.com,1999:blog-5480837938271826542.post-15665957420023773332013-08-27T06:26:00.002-07:002013-08-27T06:26:23.405-07:00RISE TO PROMINENCE - Pooled Resources<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
<span style="font-family: Times, Times New Roman, serif;">Pooled Resources</span></h2>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="text-indent: -0.31in;"><span style="font-family: Times, Times New Roman, serif;">Marwari's as compared
to their Bengali counterparts in Calcutta have an inheritance law that is
alleged to favor the manitainence of joint family property.</span></span></div>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="text-indent: -0.31in;">Marwari’s followed
the </span><span style="font-style: italic; text-indent: -0.31in;">Mitakshara</span><span style="font-style: italic; text-indent: -0.31in;"> </span><span style="text-indent: -0.31in;">system where shareholders in a join family property have
their property rights vested in them at birth.</span></span></div>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7; text-indent: -0.31in;"></span><span style="text-indent: -0.31in;">In terms of the joint
family system, the eldest son of the family would inherit and have as his
responsibility the maintenance of the brothers, who pooled their income.</span></span></div>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="text-indent: -0.31in;">Due to their capital
accumulation </span><span style="text-indent: -0.31in;">frompan</span><span style="text-indent: -0.31in;">-North Indian trade,
and the ways that families could pool their resources in the </span><span style="text-indent: -0.31in;">Mitakshara</span><span style="text-indent: -0.31in;"> system, this made
them more solvent.</span></span></div>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7; text-indent: -0.31in;"></span><span style="text-indent: -0.31in;">Bengalis on the other
hand followed the </span><span style="font-style: italic; text-indent: -0.31in;">Dayabhaga</span><span style="text-indent: -0.31in;"> system of inheritance where they would own </span><span style="text-indent: -0.31in;">property separately
but would be considered "joint" because of sharing of hearth.</span></span></div>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7; text-indent: -0.31in;"></span><span style="text-indent: -0.31in;">Muslim Law, on the
other hand provides a much more dispersed system of inheritance and does not
recognize the joint family as a corporate entity. Not surprisingly, Muslim
convert merchant groups often preferred to retain Hindu family law to keep
their joint family capital together. </span></span></div>
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<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: 'Gill Sans MT'; font-size: 27pt;"><br /></span></div>
</div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-46407036315556543722013-08-27T06:21:00.008-07:002013-08-27T06:21:58.862-07:00RISE TO PROMINENCE - Resource Group<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
<span style="font-family: Times, Times New Roman, serif;">Resource Group</span></h2>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;">The existence of
“Resource Groups” were of major advantage to the Marwari’s due to which
institutionalized hostels to accommodate migrants, credit facilities and forms
of commercial arbitration was made available. </span></div>
<br />
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;">Presence of one big
firm owned by a communal fellow, as in the case of the Jagat Seth of Murshidabd attracted
immigrants. Surajmal Jhunjhunwala of Chirawa and Nathuram Saraf of Mandawa were
recruited by the Jagat Seth during their
tours in upper India. They spawned “Sub-Resource Groups” of Marwaris from Chirawa and Mandawa which
were important features of the Calcutta cloth market at the turn of the
century. </span></div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-4398980029865624512013-08-27T06:20:00.001-07:002013-08-27T06:20:08.611-07:00RISE TO PROMINENCE - Up Country Network<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
<span style="font-family: Times, 'Times New Roman', serif;">Up-Country Network</span></h2>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7;"></span>Organization of
credit produced network of contacts all over the country which could be used
for the selling and purchasing of the goods traded in the ports. British
traders poor knowledge of the north-western parts of India, their absence of a
network of agents and the competition of the natives accounted for the weak
representation of British merchant capital in these areas. Foreign firms
naturally found themselves dependent on Marwari merchants with such network. </span></div>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7;"></span>The unwillingness of
other trading communities to move up-country was partially due to the sorts of
humiliations which upcountry traders had to sustain in connection with inland
levies on goods. The Marwaris were presumably
willing to pocket the humiliation of up-country trading which left other
communities at somewhat of a disadvantage</span></div>
<br />
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<!--[if ppt]--><span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7;"></span><!--[endif]-->
</span></div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-84888841389681378242013-08-27T06:18:00.000-07:002013-08-27T06:18:16.977-07:00RISE TO PROMINENCE - Access to Capital<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
<span style="font-family: Times, Times New Roman, serif;">Access to Capital</span></h2>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;">The genius of a
trading community lies in its manipulation of credit. With this genius for
credit acquisition, it is no wonder that trading communities managed to acquire
the capital resources which have enabled them to play a dominant role in the
industrial development of India. </span></div>
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7;"></span>The port merchant
disposed of his imports by supplying them on 3 or 6 month credit to his
correspondent upcountry. The merchant acquired cotton and jute from the farmer
by advancing him credit for the crop season. </span></div>
<br />
<div style="direction: ltr; margin-bottom: 0pt; margin-left: 0.4in; margin-top: 6pt; text-indent: -0.31in; unicode-bidi: embed; word-break: normal;">
<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7;"></span>Traders of had access
to capital or access to its surrogate, credit. Industrial entrepreneurs where thus people who had access to capital or credit. </span></div>
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<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7; text-indent: -0.31in;"></span><span style="text-indent: -0.31in;">After 1853, India
became a net importer of capital for several decades. British firms no longer
dependent on their Indian collaborator for working capital were thus less
likely to offer them less honorable and lucrative terms. The older
collaboration firms which were mostly Bengali were reluctant to take up these
new terms. On the other hand Marwari firms whose bargaining position was not as
goods, emerged to step into the collaborating role.</span></span></div>
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<span style="text-indent: -0.31in;"><span style="font-family: Times, Times New Roman, serif;">In a case of Marwari
merchants in Banaras it is learnt that they had access to capital from fellow
merchants who made capital available overnight without collateral. There were
preferential interest rates for fellow Marwari, account for which was settled
once in a year. </span></span></div>
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<span style="font-family: Times, Times New Roman, serif;"><span style="text-indent: -0.31in;">During 1</span><span style="text-indent: -0.31in; vertical-align: super;">st</span><span style="text-indent: -0.31in;">
World War India was completely cut-off from Europe, in 1920 the government of
India undertook a series of programs to encourage selected Industries. It was
encouraged by lack of competitive imported goods from abroad.</span></span></div>
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<span style="font-family: Times, Times New Roman, serif;"><span style="color: #3891a7; text-indent: -0.31in;"></span><span style="text-indent: -0.31in;">Empowered with
capital accumulated during the war through speculation in commodities and
experience in supplying raw materials to the Industry a substantial number of
Marwari’s entered manufacturing.</span></span></div>
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<span style="font-family: Times, Times New Roman, serif;"><span style="text-indent: -0.31in;">In the 2</span><span style="text-indent: -0.31in; vertical-align: super;">nd</span><span style="text-indent: -0.31in;">
World War some businessmen made money supplying the troops and speculating on
wartime markets. Others exploited the natural protection to setup a series of
industries to meet domestic needs. Still others made money supplying war needs
by exports to Far East and Europe which had turned into battle grounds.</span></span></div>
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<span style="font-family: Times, Times New Roman, serif;"><span style="text-indent: -0.31in;">Capital accumulated
during this process was utilized to take over Industries and occupy enclaves
left by the British post Independence.</span><span style="text-indent: -0.31in;"> </span></span></div>
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<span style="font-family: Times, Times New Roman, serif;"> </span></div>
</div>
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<span style="font-family: Times, Times New Roman, serif;"> </span></div>
</div>
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<span style="font-family: Times, Times New Roman, serif;"> </span></div>
</div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-183400707433940082013-08-19T03:39:00.000-07:002013-08-19T03:39:36.449-07:00REGION OF MIGRATION - Burma<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
Burma</h2>
<div>
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<span style="font-family: 'Gill Sans MT';">Some </span><span style="font-family: 'Gill Sans MT';">Marwaris</span><span style="font-family: 'Gill Sans MT';"> moved from Calcutta
to Burma after its conquest by the British in 1885. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Here again they faced
stiff competition from </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Chettiars</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Memons</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> who were well
established in Burma by then. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Still the Marwari
firms in timber and rice exports were factors to be reckoned with.</span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Many Indian merchants
fled Burma during the Japanese occupation (1942-45). </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">The bulk of the
remainder were expelled along with other non-</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">indigeneous</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> in the years that
followed. </span></div>
</div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-69040993962839190202013-08-19T03:36:00.002-07:002013-08-19T03:37:49.474-07:00REGION OF MIGRATION - Bombay & Malwa<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
Bombay & Malwa</h2>
<div>
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<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">Migrations to Bombay
started after 1800. This was much earlier than Calcutta which could have been
attributed to the International character of Bombay as a Center of Trade. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">They however faced
resistance from Gujarati moneylenders in </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Ahmednagar</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and Parsee merchants in Bombay City who had long before
established themselves in the region.</span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">In central India, the
rural areas of Bombay Province, the Marwari’s became the pre-eminent local
moneylenders and merchants. They
financed especially the growth of cash crops which the British demanded. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">After the reduction
in land revenue (1835-50) created some surplus with the peasant on which a
meager retail trade could be based. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Ingenious businessmen
never seem to have existed in any number of this area.</span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -29.760000228881836px;"><br /></span>
<span style="font-family: 'Gill Sans MT'; text-indent: -29.760000228881836px;">Marwaris</span><span style="font-family: 'Gill Sans MT'; text-indent: -29.760000228881836px;"> in this region often
started as small shopkeepers, rapidly taking on to money-lending for financing
crops which were demanded by the British, at first opium and then cotton. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Many of the migrants
arrived just before 1860. Their fortunes may well have been founded on their
participation in the cotton-export boom of Bombay during the American Civil War
years, when the American raw cotton supplies to mills in Britain were </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">disrupted. </span><span style="text-indent: -0.31in;"><span style="color: #3891a7; font-family: 'Wingdings 2';"></span></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">A Later spurt of
migration seems to have occurred between 1890 and 1910, much of it via
Indore. </span></div>
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<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">One </span><span style="font-family: 'Gill Sans MT';">Aggarwal</span><span style="font-family: 'Gill Sans MT';"> firm in the Central
Provinces was particularly noteworthy. The firm of </span><span style="font-family: 'Gill Sans MT';">Bacchraj</span><span style="font-family: 'Gill Sans MT';"> </span><span style="font-family: 'Gill Sans MT';">Jamnalal</span><span style="font-family: 'Gill Sans MT';"> Bajaj based in </span><span style="font-family: 'Gill Sans MT';">Wardha</span><span style="font-family: 'Gill Sans MT';"> was especially
prominent in supplying cotton to the Japanese. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">By 1913 the firm
shipped out 40K bales/year and reaped a profit of Rs.75 </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Lakhs</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">. The firm became
famous because of its proprietors, Seth </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Jamnalal</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> Bajaj played a leading role in the independence
struggle.</span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">An apocryphal story
when </span><span style="font-family: 'Gill Sans MT';">Jamnalal</span><span style="font-family: 'Gill Sans MT';"> Bajaj entered
business it was common practice for Marwari traders to sprinkle water on the
cotton bales to increase its weight while selling to mills. When firm’s </span><span style="font-family: 'Gill Sans MT';"><i>munshi</i></span><span style="font-family: 'Gill Sans MT';"> suggest him to do
the same he refused to do so. Instead he put up a banner “Dry Bales for Sale”.
The purchaser with prospects of not having to bear the risk of buying water
sprinkled bales where he was uncertain of water sprinkled gladly paid a premium
for dry bales offered by </span><span style="font-family: 'Gill Sans MT';">Jamnalal</span><span style="font-family: 'Gill Sans MT';"> Bajaj. </span><br />
<span style="font-family: 'Gill Sans MT';"><br /></span></div>
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<span style="text-indent: -0.31in;"><span style="color: #3891a7; font-family: 'Wingdings 2';"></span></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">After Independence
their heirs took the Bajaj firm into industry outside </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Wardha</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and played a crucial
role in post-independence industrialization of the nation. </span><span style="font-family: 'Gill Sans MT';"> </span></div>
</div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-66789878715084594302013-08-18T06:10:00.000-07:002013-08-19T03:32:46.338-07:00REGION OF MIGRATION - Assam<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
<b>Assam</b></h2>
<div>
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<span style="font-family: 'Gill Sans MT';">Marwari’s started
arriving in Assam soon after its conquest by British in 1818. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Unlike other parts of
India where they faced competition from local trading community in Assam due to
absence of trading indigenous trading community they monopolized the trade from
day one. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Before the arrival of
Marwari’s trade in Assam was limited to barter of goods between adjacent
villages.</span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">As a unique and one
of its kind example of early Marwari migration a prominent Marwari from </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Churu</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> in Shekhawati, </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Harbildas</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Aggarwal’s</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> father apparently
took an Assamese wide and adopted Assamese lifestyle. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">He established
branches in </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Tejpur</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">, North </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Lakhimpur</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Dibrugarh</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">. He was one of the
first Indians to purchase a Tea Estate in 1868, called “</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Tamulbari</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">”. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">He however continued
to maintain ties with fellow </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">marwaris</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and helped many settle down as merchants in the region.</span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">In 1990’s, </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">assam</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> had witnessed an
anti-Marwari movement on the part of ULFA which sparked an exodus of </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Marwaris</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> from the area. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Anti-Marwari
agitations in Orissa also began in early 1980’s. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Many </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">marwari</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> families from
Orissa, Assam and Bihar migrated to Raipur in Chhattisgarh. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">These migrants were
aided by Marwari families who had been living there for generations.</span></div>
</div>
</div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-3772275780981385032013-08-18T05:57:00.000-07:002013-08-18T06:18:22.305-07:00REGION OF MIGRATION - Bengal<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
Bengal</h2>
<div>
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<span style="font-family: 'Gill Sans MT';">Marwari migration to
Calcutta started in 1830. They formed a </span><span style="font-family: 'Gill Sans MT';">Panchayat</span><span style="font-family: 'Gill Sans MT';"> to handle quarrels and maintain discipline in the
community. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">The first migrants to
Calcutta seem to have hitched rides as super cargos aboard river boats at </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Mirzapur</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> in East-Uttar
Pradesh. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Many </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">marwaris</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> came and started
their career first at Calcutta but in search of better fortune they further
migrated from Calcutta to the country side.</span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="color: #3891a7; font-family: 'Wingdings 2';"></span><span style="font-family: 'Gill Sans MT';">The basic reason for
such further migration might be the fact that Calcutta was a cosmopolitan city
where there was a keen competition among various merchant communities, apart
from the fact that Bengali business entrepreneurs had been very well established
in Calcutta at that time. </span><br />
<span style="font-family: 'Gill Sans MT';"><br /></span></div>
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<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">The first Marwari
firms in </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">calcutta</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> date from before
1857. It was only in the 1870’s that we get a sense of the Marwari’s arriving
in Calcutta in large numbers. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Until 1860’s the
trade of Calcutta was with Bengali and to a lesser extent in </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Khatri</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and North Indian </span><span style="font-family: 'Gill Sans MT'; font-style: italic; text-indent: -0.31in;">bania</span><span style="font-family: 'Gill Sans MT'; font-style: italic; text-indent: -0.31in;"> </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">hands. </span><br />
<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"><br /></span></div>
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<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Slowly starting
1880’s, the </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">marwaris</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> started replacing </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Khatris</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and Bengalis as </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">banians</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> to British firms. By
the turn of the century the list of invitations to the Viceroy’s </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Leeves</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> published in the
newspapers show a sizable group of </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Marwaris</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> and only one or two </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Khatris</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">. </span><span style="text-indent: -0.31in;"><span style="font-family: Gill Sans MT;">By 1911, the Calcutta
Marwari population was 15,000 and that in Bihar, Orissa, Bengal and Assam was
75,000. </span></span><br />
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<span style="text-indent: -0.31in;"><span style="font-family: Gill Sans MT;">This co-indices with discovery of synthetic Indigo Dye by German chemical company BASF. First discovered in 1878 its industrial scale production in 1897. Before its invention plant based Indigo cultivated in Bengal was the only source of blue dye. Bengali businessmen particularly had a majority stake in trade of Indigo. A notable Bengali <i>bhadralok</i> Dwarkanath Tagore (father of Rabindranath Tagore) had an important stake in its trade. </span></span></div>
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<span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Among early Calcutta Marwari migrants is Seth </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Nathuram</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Saraf who</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> was full of feeling
for his caste fellows and opened up a </span><span style="font-family: 'Gill Sans MT'; font-style: italic; text-indent: -0.31in;">basa</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> for </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">marwari</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> migrants in which
they could stay free of charge. </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">He facilitated
further migration, especially from his hometown of Mandawa. He became the 1</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in; vertical-align: super;">st</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">
Marwari </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Banian</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">. </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">In </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Sutapatti</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">, Mandawa stores were
numerous in </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">comparision</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> to other cities,
there were once 45 cloth shops from Mandawa, specializing in the fine </span><span style="font-family: 'Gill Sans MT'; font-style: italic; text-indent: -0.31in;">melmel</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> variety of cloth.</span></div>
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Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-65301084839264860552013-08-18T05:50:00.000-07:002013-08-18T05:50:58.331-07:00REGION OF MIGRATION - Introduction<div dir="ltr" style="text-align: left;" trbidi="on">
<h2 style="text-align: left;">
Introduction</h2>
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<span style="font-family: 'Gill Sans MT';">The Marwari migration
did not occur within a short period. Its pace was gradual and increasing in nature. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">One Male member of a
family in Rajasthan came first to this region in quest of a fortune and stayed
here for a few years doing business. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">After having
established himself, he helped other members of his family, whom he left behind
in his native place at the time of his migration, to come and join his
business. </span><span style="color: #3891a7; font-family: 'Wingdings 2'; text-indent: -0.31in;"></span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">Sometimes he also
helped a neighbor who came in search of subsistence, by giving him a temporary
engagement in his firm along with providing him the facility of free food and
lodging at his </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">basa</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> or </span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;">gaddi</span><span style="font-family: 'Gill Sans MT'; text-indent: -0.31in;"> (office)</span></div>
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Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-2301941424094148332013-08-15T03:32:00.002-07:002013-12-27T02:16:40.726-08:00TRIGGERS FOR MIGRATION - Development of Railway,Road & Telegraph<div dir="ltr" style="text-align: left;" trbidi="on">
<h2>
<span style="color: white;">
Development of Railways, Road & Telegraph</span></h2>
<strong><span style="color: white;">Map Of Indian Railways In 1870</span></strong><br />
<strong><span style="color: white;"><br /></span></strong>
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<span style="color: white; margin-left: 1em; margin-right: 1em;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRdlekR5BwccSaPTumdZS5k0nIERR02IMBuN8suEXccfTjoIwoaSmd1TMk2cPC5o8Yz-tefmmtugFioYuiAlt1VZtjeuFEidGncffBTpTy475sSc43C7aS0QA4cCzrlqCmVu4SChsmSrKh/s1600/613px-India-rail-1870.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="390" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRdlekR5BwccSaPTumdZS5k0nIERR02IMBuN8suEXccfTjoIwoaSmd1TMk2cPC5o8Yz-tefmmtugFioYuiAlt1VZtjeuFEidGncffBTpTy475sSc43C7aS0QA4cCzrlqCmVu4SChsmSrKh/s400/613px-India-rail-1870.png" width="400" /></a></span></div>
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<span style="color: white;"><br /></span>
<span style="color: white;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Between 1853-69 4255
railways laid out 4255 Miles of tracks across India.. Statistics show that the
migration increased rapidly only after 1860’s which would be covered in the
later slides when we shall focus on region specific migration. </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">A proverb goes “where
the railway goes, the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">marwari</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> follows its ways”</span></span><br />
<span style="color: white;"><br /></span>
<span style="color: white;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">With completion of
rail corridor in 1916 through Shekhawati movement of women and children became
speedier and safer thereby causing permanent migration to the areas where
business was based. It was a sign to both the British and the locals that the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">marwaris</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> were here to stay. </span><span style="font-family: "Gill Sans MT"; font-size: 27pt; language: en-IN; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">
</span></span><br />
<span style="color: white;"><br /></span>
<span style="color: white;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">The railways had
replaced the river routs as the main conduit for goods traffic rendering the
rail center of Kanpur a better locus of operations. </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">As a result </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Marwaris</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> moved to Kanpur from
River ports of </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Mirzapur</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> and </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Farrukhabad</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">
</span></span><br />
<span style="color: white;"><br /></span>
<span style="color: white; font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">In 1839, the Grand
Trunk Road from Calcutta to Delhi was opened and this was followed by links
between major cities in British India. </span><br />
<span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"><span style="color: white;"><br />
<span style="font-family: "Gill Sans MT";">Integrated postal
service was introduced in I837.<span style="mso-spacerun: yes;"> </span>Post
office act of 1854 provided uniform rates. </span><span style="font-family: "Gill Sans MT";">By 1861, there were 889 post offices handling nearly
43 million letters and over 4.5 million newspapers annually. </span><span style="font-family: "Gill Sans MT";">Public Telegram was
introduced in India in 1855</span><span style="font-family: "Gill Sans MT"; font-size: 32pt;">
</span></span><br />
</span></div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0tag:blogger.com,1999:blog-5480837938271826542.post-82969821720095641552013-08-15T03:24:00.001-07:002013-12-27T02:16:20.251-08:00TRIGGERS FOR MIGRATION - Rise of Port Cities<div dir="ltr" style="text-align: left;" trbidi="on">
<h2>
<span style="color: white;">
Rise of Port Cities</span></h2>
<span style="color: white;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Tod</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> in 1832 saw that the
establishment of British rule forced the </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Marwaris</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> to pick up foods at the ports of Calcutta and Bombay if
they were to make a profit, rather than wait for someone to bring the goods to </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Pali</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> or </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">Churu</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> in their homelands. </span></span><br />
<span style="color: white;"><br /></span>
<span style="color: white;"><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">The successive wave
of opportunity were ultimately governed by the demands of British and foreign
port export firms. Just as the East India Company developed export line after
export line to solve its remittance problem, old banking firms developed complex
flows and counter flows of commodities and </span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;">hundi's</span><span style="font-family: "Gill Sans MT"; language: en-US; mso-ascii-font-family: "Gill Sans MT"; mso-bidi-font-family: +mn-cs; mso-color-index: 1; mso-fareast-font-family: +mn-ea; mso-font-kerning: 12.0pt;"> to balance the drains and inflows into their various
branches. </span></span></div>
Insatiable Nikunjhttp://www.blogger.com/profile/18012835385419502331noreply@blogger.com0