A project has been started in the City of a
somewhat novel character, viz., to lend money to Bengalee holders of land. It is called the Indian Land Bank, with Mr. Laing for managing director, and its idea is to borrow money at four per cent. and lend it to the native agriculturists at twelve or more. The idea is sound enough, the landholder borrowing at enormous interest, and the only difficulty will be to scatter agencies sufficiently widely. The Indian Banks have hitherto rather avoided lending money on mortgage, as they want to keep their funds at command for exchange operations and loans on cargo-warrants. If it were possible, which we suspect it is not, to reach the ryots, the profits might be enor- mous, the peasant often paying an anna in the rupee a month, or 75 per cent. per annum.
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