Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-09
oRra1N OF SAVINGS.
Ornaments for Women Served as Ex-
change in India.

From the Nineteenth Century.
In 1898 was busy with the study OF the
Indian currency question and went faith
fully through the considerable mass of evil
dence that was given before Sir Henry
Fowlers committee. In answer to the ten
thousand eight hundred and flfty-seventh
question I came across the following pas
sage, which, 1t struck me at once. had an
interesting and important bearing on the
origin Of money. The witness was MT.
Romesh Dutt, c. l. E.. native gentleman
who has. 1t may be said. made his mark In
literature.
In reference to the vast amounts of money
spent annually by the natives on silver or
naments he was asked by one OF the MEM
bers of the committee: Would not the
country have been benefited If that money
had been employed instead of being allowed
to lie idle?' II do not think 1t lies idle.
replied Mr.. Dutt, because 1t serves the pur-
pose Of ornament and savings bank. "As
regards savings banks went on his inter-
locutor, SIS 1t not very much more economi-
cal and better to put your savings In some
interest-bearing security than to tie 1t up
In bagT" The reply was very much to the
point. IF an Indian cultfvator, said Mr..
Dutt. had 200 or 800 rupees In the bank it
would disappear In the course of a year or
so, but If 1t is in the shape of his women's
ornaments he will keep them until he Is
compelled by famine to part with them.
The silver serves the purpose of orna-
ment and savings bank" Mark the double
function. Perhaps We have caught the
transition of ornament into money in the
very act of taking place. To the shrewd
Scotch banker who put his questions to Mr..
Dutt. the putting by of so much annually
In the shape of savings seemed COM
pletely a matter of course that 1t stood in
need of no explanation. The question how
1t was that saving first became possible in
the world is nevertheless a very real prob
lem.
Share and share alike was the unvarying
rule among primitive mankind The senti-
ment that enforced that rule, indeed has
survived with considerable vlgor into the
modern. civilized period. There are, as
Know, large classes among ourselves for
whom social opinion makes saving practi-
cally impossible. Among races which be-
long 10 an earlier stage of development The
same sort of social opinion Is infinitely more
powerful If the Indian peasant had his
200 or 300 rupees in hand or under his I'm
mediate control the exigencies of some
matrimonial or funeral function might in
a day run away with the half OF Il. IT, on
the contrary. those rupees are melted down
ana made to take the shape of ornaments
for his women-ornaments which among the
Indlan peasantry are almost the sole index
or social position, and which enable the
whole family TO hold up their heads among
their notwithstanding but very urgent
necessity will make them part with them
Thus. the desire for ornament first makes
the accumulation of reserve for use in
utmost need possible.
This Is the first stage. Presently no
doubt, some degree of consciousness of the
double purpose of his ornaments begins TO
enter into the thoughts of the peasant Elk
perience tells him that the possession of a
store of bracelets and bangles has warded
on starvation from himself and his family
In the past and the possibility of the re-
currence of evil days forms conscious rea-
son In his mind for continually adding to
his possessions In them. Thus after a IA sh
ion, a circulation of ornaments seems 10
have preceded in the world the circulation
of money.