Would you consider the purchase of land a more profitable investment taking all these factors into account?
What is thfe yield of such land in a good year per acre? One bigha under cotton would fetch about 6 maunds of cotton at the rate of Rs. I want to consider his position as an investor in land.
He can invest in the post office and at the same time work as a labourer. How much can a family normally cultivate 2—A family can cultivate about 25 bighas. We are considering the case of a person who can save something. At what rate have you taken his wage and the wage of his family? It is very much less than investing in the Post Office Cash Certificates? Taking it as a business proposition, apart from sentiment, the average holding is not enough to give adequate return on the capital invested? Considering the yield it is more profitable to grow cotton?
You will get about 8 maunds of fodder oii one bigha of land. If they use it as fodder for the cattle you will exclude it from the coat of production? Assuming only half is sold and half is used for bullocks. As a matter of fact we have erred on the side of exaggeration, because Rs. So, if the proposition is uneconomical, we must discourage such an unprofitable investment of the savings.
There seems to be a sort of land-hunger which forces up the price of land no credit check loans Idaho out of all proportion to the produce? If it is unprofitable, surely the savings of the people ought to be diverted from this form of investment? I do not think, they would go in for Post Office Cash Certificates or other forms of investment. There are other alternative methods of investment besides the Post Office, Cash Certificates. Our remedy is to popularise forms of investments other than land which does not give an adequate return on the capital invested in it? What is the percentage of the class of men who borrow for productive purposes? IIow would, you make it easy for these people to borrow money for productive purposes? You short term loans Oregon have given the rates of interest charged by the various classes of creditors in paragraph 3. Are the rates charged by village bohrafi the nominal rates of interest or are these the actually realised rates of interest?
Are these nominal rates 1 —There are no nominal rates.
You mean to tell me that a man is able to get them from a law court? From the law court he will only get a rate of 6 per cent. If the matter goes short term loans Oregon to a law court will he get only 6 per cent. Considering the general tendency of the courts, the courts would not award more than 6 per short term loans Oregon cent.
Supposing within three years a suit is tiled, will the court award 36 per cent. If there is no agreement to that effect, the court. Can you give us specific instances of cases in which a law court has awarded a money-lender 36 per cent. Are you aware that in Merwara in the years 1917 and 1918 an attempt was made by the Co-operative Department to compound the debts of the moneylenders? Do short term loans Oregon you know of any cases where the moneylender was prepared to leave off something at the time of settling debts 1 —I have no personal "knowledge. Rather than go to civil courts, the moneylender is prepared to settle by leaving off something. Could you give me some figures 1 —I have no figures about that.
Is the general trend of rates of interest to go up or come down 1 — They are practically stationary. Has the interest gone up or gone down after the introduction of the Land Alienation Act in 1914?
What percentage of the debts due to the moneylender proves to be irrecoverable? I could not tell you exactly, but it is a small percentage. Does the moneylender proprietor, actually cultivate the land or is he merely a rent receiver 1 —He gets it cultivated by others and receives a share of the produce.
When he has actually become the owner of the land, does he treat the land as an investment for himself? There are very few cases in which he spends money on other improvements. Apart from the moneylender there must be other landlords on this half share system? Is the rate of interest charged by the agriculturist moneylender high?
Sometimes on temporary loans they do not charge anything.
Are you aware that the mortgage of land has gone up by leaps and bounds during the last 4 years from 1026, -the area mortgaged in 1927-28 being double the area mortgaged in 1923, 1924 and 1925? I will give you the figures furnished by the Extra Assistant Commissioner, Merwara. In 1928, short term loans Oregon 1435 bighas of land were mortgaged afresh, in 1926 short term loans Oregon only 554, in 1924 only 857, in 1923 only 885, in 1920 only 832, in 1918, 476, and in 1916 only 441. In 1927 and 1928 it shot up, both in Beawar and Todgarh? Are you aware the mortgage debt has shot up even higher than it was in 1914?
Do you say also that in many cases the mortgages are with possession? What percentage does half the annual yield of the land work out to on the mortgage money, assuming that the mortgage value is equal t,o half the price and the valite of a bigha of land is Rs.