Chablani, the witnesses made the statements contained in the subsequent paragraphs. The articles exported from the place are wheat, wool, and grain. We receive raw cotton from Mewar, Marwar and Magra Cotton is received by road from places within a distance of 86 miles and by rail from about 150 miles. Four lakh maunds of raw cotton and 10,000 maunds of ginned cotton are imported in this part of the country. About 1 lakh maunds of ginned cotton are prepared here and about 70,000 maunds are exported. The cotton from Pisangan is quick loans Oklahoma lb times that from Tod- garh. Generally the nearer the place is to Beawar, the greater is the proportion of the produce sold directly by the zamindars through the. The nearer the place is, the greater is the quantity brought by the zamindars in their own bullock carts. More is paid in rupees than in notes, as the zamindars take mostly coins. In fact those who want to work as their commission agents have generally to keep Rs. Those agriculturists who have received advances from us do not necessarily come to us to sell their cotton through us.
Big wholesale merchants on their own account send goods to Bombay at their own expense.
If the goods are sold, we advance 75 per cent, of the price to the sellers on the security of their goods. We get financial help not from the banks but from the local indigenous bankers and also from the indigenous bankers of Bombay, Ajmer and Merwara. At this stage, the members of the Committee asked the witnesses if they would allow them to see some of the entries in their account books.
An entry dated the 27th June 1929 showed that an amount of Rs. Nothing had been received in payment of the loans and balances had been struck at intervals, the amount shown as due on 27th June 1929 being the balance struck for the third time. A suit had been filed and the court had decreed that the claim should be paid in 14 instalments but had allowed no interest from the date of the decree.
The ease ended in a consent decree for the full amount, but no interest was.
The decree which was shown to the Committee was dated the 11th September 1919. The suit was decreed on the 14th January 1922 with costs, the whole amount to be payable at once. On the day the decree was obtained the judgment debtor went to the creditor, who out of sympathy for him, gave his consent to the decree being modified as follows :—Amount to be paid by instalments of Rs.
Seth Vithaldas Rat hi : Have you got only one set of account books or separate sets? Instead of improving the condition of the agriculturists the co-operative: bank has worsened it. There has quick loans Oklahoma not been good cotton crop for the last, ten years.
Last year I brought 10 to 12 maunds to the market and sold it through the Union. The Union sells the goods in the-: bazar and takes the profits themselves.
After selling the goods the Union pays the price to us.
Patel, agriculturist stated as follows: — I sold 23 maunds of cotton and paid commission at the rate of Re. It is only because I have faith in my commission agent that I go to him.
My dealings with this mahajan extend over 40 quick loans Oklahoma years. I am paying this rate of interest for the last 16 years. My father also used to pay this rate of interest whenever ho borrowed money.
I pay this rate if interest on account of the money market being tight.
I had to sell the land because the co-operative bank pressed Agriculturists of Beawar. Then in order to perform the funeral ceremonies of my wife I borrowed another Rs. I had to sell my land on account of pressure being brought to bear upon me both by the bank and the sureties in the bank. Anna, agriculturist stated as follows :— Three years ago I became a member of the bank.
At that time 1 owed 11s, 1,000 to four different persons. I wanted to purchase land and hence became a member of the bank and borrowed Rs.
Neither tha hank nor the mahajan would advance loan to the extent of Rs. Rai Bahadur Seth Tikamchand Soni, Indigenous Banker, Anop Chowk, Ajmer. The rate of interest varies from 12 to 21 per cent, per annum. In cases where grain badi is paid the rate of interest exceeds 24 per cent. The interest is added in some cases every year and in some cases after two or three years when the. It is not customary for money-lenders to extract personal service ot any other form of labour in lieu of interest on loans from borrowers. The enactment of legislation for publication of accounts docs not seem desirable as no one would want to disclose his accounts publicly. There are no village arbitration boards or village panchayats in this district for the purpose of settlement of disputes between the money-lenders and the agriculturists. The marketing centres for the various crops are as under: For cotton and cumin seeds Kekri, Beawar, Nasirabad and Pisangan.
For grain Ajmer, Kekri, Beawar, Deoli, and Nasirabad. It is more or less customary for the agriculturists to bring the produce to marketing centres unless there is a direct stipulation with the money-lenders or saiiukars to sell the goods to him or through him.
Cotton is purchased by the mill owners at Beawar for local consumption.
The expenses incurred are, commission 0-12 0, for cash payment 0-4-0, and dharmada, etc. Coolies are usually paid in kind which works out at about 5 annas per cent, ad valorem.
The agriculturist stores his produce at his own house previous to taking it to the market and when he wants to sell it, it is brought to the shop of the commission agent where it is sold on the very day or the day following. Credit can be obtained on the security of grain provided it is kept in the custody of commission- agents or money-lenders. The reduction or the abolition of the stamp duty on usance bills would certainly increase this signature loans Alaska class of bills. The land mortgage bank should lend money at the rate of Rs.