| Total Deposits in India, excluding Public Deposits. | Total Cash Balances. | Cash Per Cent of Deposits. | |
| 1890 | £16,650,000 | £11,310,000 | 68(a) |
| 1895 | 19,430,000 | 7,570,000 | 39 |
| 1900 | 20,970,000 | 5,750,000 | 23 |
| 1905 | 34,230,000 | 9,150,000 | 27 |
| 1906 | 38,100,000 | 11,700,000 | 31 |
| 1907 | 40,880,000 | 11,350,000 | 28 |
| 1908 | 42,920,000 | 11,050,000 | 26 |
| 1909 | 48,930,000 | 12,430,000 | 25 |
| 1910 | 54,870,000 | 12,340,000 | 22 |
(a) An exceptional year.
The steady deterioration of the position, as shown in the above figures, is exceedingly marked. These figures flatter the Banks, rather than the reverse. For I have excluded the Public Deposits (amounting in 1910 to £2,820,000), and have included the whole of the cash balances (at the branches as well as the head offices) held by the Presidency Banks against them. If the figures could be worked out accurately, the present proportion of cash available against the private deposits would come out, I suspect, lower by far than appears superficially from the above table.
24. To complete the figures of Indian deposits,[120] it will be useful to give at this point the deposits in the Post Office Savings Banks, which have increased at a great rate, though not so fast as deposits in Banks, since 1900:—
| March 31. | Number of Depositors. | Deposits. |
| 1900 | 785,729 | £6,431,000 |
| 1905 | 1,058,813 | 8,938,000 |
| 1906 | 1,115,758 | 9,328,000 |
| 1907 | 1,190,220 | 9,845,000 |
| 1908 | 1,262,763 | 10,121,000 |
| 1909 | 1,318,632 | 10,156,000 |
| 1910 | 1,378,916 | 10,578,000 |
| 1911 | 1,430,451 | 11,279,000 |
| 1912(a) | 1,500,834 | 12,599,000 |
| 1913(b) | 13,860,000 | |
(a) Limit of annual cash deposits raised from Rs. 200 to Rs. 500.
(b) Estimate.
As in England, the Government do not maintain any specific reserve against these deposits. They are treated as unfunded debt and used for capital expenditure. It is important, therefore, to remember that the Government now hold in India nearly £14,000,000 of unfunded debt repayable at short notice to 1,500,000 depositors. This constitutes a not negligible claim on their general reserves.
25. The figures of the preceding paragraphs, in their cumulative effect, suggest the following reflection. Apart from any deterioration in the proportion of reserves held, the question of Indian deposits is now important. They stand for the first time at a figure which is large in relation to the total trade of the country and to the resources of the Government. If the Banks get into trouble, there will be much more far–reaching effects than could have been the case formerly. This is quite apart from the question whether they are more likely to get into trouble than formerly. The question of the reserves they hold matters, therefore, more than it used. The information which I have been able to convey in this chapter is exceedingly incomplete. But, such as it is, it provides strong prima facie grounds for doubt and dissatisfaction.