Pray do n ot be annoyed for t r o u b l i ng y ou again. Is, it n ot
possible for y ou ro raise the m i l l i on y ou wa nt f r om the Indi an
Princes ? To me it is a matter of g r i ef that y ou should become the
instrument of enabling foreigners to carry away the natural
we a l th of India w i t h the o n ly benefit of some thousands of Indians
earning a l i v e l i h o o d. To my m i n d, it is a great i n j u ry to Indi a.
I w o u ld rather that this we a l th remained bur i ed than that it
should be carried away by other people. . . . I hope y ou w i ll
take it in the spi r it in w h i ch I am w r i t i ng i t.
T a ta e x p l a i n ed t h at he w o u l d be o n l y t oo w i l l i n g to f o l l o w
Da d a b h a i 's advi ce i f D a d a b h ai a nd o t h er I n d i an f r i ends c o u ld h e lp
h i m in r a i s i ng t he r e q u i r ed c a p i t al in B r i t i sh I n d ia a nd t he I n d i an
States at a b o ut t he same r a te of int e r e st w h i c h he w o u l d have to
p ay in E n g l a n d. D a d a b h ai w o r k e d w h o l e - h e a r t e d ly in t h at
d i r e c t i o n.
I am so glad (wr o te Tata on February 20, 1903) that once
more I have y o ur support in my I r on and Steel project and I thank y ou cordi a l ly for y o ur k i nd letter. I am disposed to take
the sanguine v i ew of the Kaiser-i-Hind that it may n ot be i m -
possible to find the w h o le capital in India—particularly as a Parsi
gentleman has, unsolicited, asked me to p ut h im d o wn for a
l a k h .
1
B ut I w i l l n ot conceal f r om y ou my belief that in order to
accomplish w h at b o th y ou and I h o ld desirable—namely, starting
I r on W o r ks w i t h as far as possible Indi an capital w h o l l y —I shall
need a ll the p owe r f ul support that men in y o ur pos i t ion and w i t h
recognized service to our c o u n t ry can extend. Things are s t i ll in
an experimental stage; my experts are w o r k i n g, and I am determi n ed n ot to i n v i te subscriptions of capital, u n t il by a t r i a l -pl ant,
costing something l ike 4 or 5 lakhs, I have felt sure of success.
It was n ot g i v en to t he greatest I n d i an i n d u s t r i a l i st of the d ay to
see t he results of his s p l e n d id scheme to raise I n d ia to t he status of
o ne of t he greatest i n d u s t r i al c o u n t r i es of t he w o r l d . He d i ed
b e f o re t he scheme h ad passed t h r o u g h t he e x p e r i m e n t al stage.
W h e n , h o w e v e r, it m a t e r i a l i z e d, a nd w h e n c a p i t al was i n v i t ed
f r o m the p u b l ic ( A u g u st 1907), the T a ta offices in B o m b a y w e re
besieged f r o m e a r ly m o r n i n g t i l l late at n i g ht b y c r o w ds o f
i n v e s t o r s. At t he e nd of t h r ee we eks e v e ry rupee of t he e n t i re
c a p i t al r e q u i r ed at the t i me was c o n t r i b u t ed by I n d i an i n v e s t o r s.
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