2 Comments

1. 

   R.Nanjappa (@Nanjundasarma)

    /  May 6, 2019

   Shakespeare’s advice on the subject of borrowing and lending is well known:

   Neither a borrower nor a lender be,
   For loan oft loses both itself and friend,
   And borrowing dulls the edge of husbandry.
   (husbandry here means thrift)

   Hamlet Act 1, scene 3, 75–77

   This is said primarily in connection with money. But book lovers should also keep this in mind. There is a saying that newspapers are like woman: each one should have his own, and not look to his neighbour’s. Yes, some people borrow even newspapers, sometimes even before the subscriber himself has read it. With books, the situation is really serious. Most people who borrow do not generally care to return soon. Most people do not know how to handle books, also most do not take due care: the corners are folded as book mark, coffee or tea is spilled, a child may tear a sheet or two. some people make notings or marks. [ I remember one instance when Rajaji had borrowed a book from TTK, and made some remarks there for which he apologized!] But the extreme situation is when the book is not returned at all, for whatever reason. Here the real problem is when the book is rare or out of print and a replacement is not possible. Some of the books I lent in the 70s and 80s have not come back, but today they are either not available or very costly.

   But it is important to notice that Shakespeare warns against borrowing first! The entire economy is now based on borrowing- whether individual or government. People are induced to borrow in many subtle ways- vehicle loan, personal loan, housing loan, EMI schemes, for replacement or ‘upgrading’ existing things, etc. Our youngsters especially are induced to buy so many new things through powerful ads on the TV which has invaded even our remote villages, and triggered many dreams. Poet Shailendra wrote about it in 1957 in a song in the film MUSAFIR.

   Albele armano(n) ke
   Toofan lekar aaye
   Nadan sau baras ke
   Saman lekar aaye
   Aur dhul udata chala jaye
   Ek aaye ek jaye musafir
   Duniya ek saray re

   We bring so many seemingly innocent wishes like the hurricane
   We accumulate useless things ( to last) for a hundred years
   When we go, only the dust is raised.
   This world is a wayside rest house- here people keep coming and going.
   ( No one is permanent)

   The extreme situation is in the US where the whole economy hinges on spending, and domestic saving- husbandry- is very low. But governments also borrow- the US government is the world’s largest debtor. This is because govts spend money on many so called welfare schemes for which public will have to pay. Raising taxes is unpopular, and so they resort to borrowing. What people do not realise is that ultimately, the govt has no income of its own except taxation, and even borrowing has to be repaid through taxes ( unless the govt has no intention to repay, so that they may borrow afresh, to pay earlier loans.) The other alternative is to resort to deficit financing, which amounts to an invisible tax on all, and affects the poor more than the rich. Unfortunately in a country like ours, it is next to impossible to educate the public on such issues. Voters are so happy when free goods are distributed during or after elections; they do not care to learn where the money comes from.
   Borrowing for a personal vehicle is unwise, for it is a wasting asset. But even in the case of housing loans, it is uneconomical in India since the interest rates are high and at the current rates, borrowers would end up paying double the loan amount depending upon the period of repayment. Once the banks have come forward to lend for housing, sharks have cornered the properties and prices have gone up in most cities and towns. This is a vicious circle. Cine poet Sahir Ludhianvi wrote in a song in the 1958 film PHIR SHUBA HOGI about the situation in Bombay:

   Cheen-o-arab hamaaraa, Hindostaan hamaaraa
   Rehne ko ghar nahin hai, saaraa jahaan hamaaraa
   Kholi bhi chin gayi hai, benchein bhi chin gaye hai
   Sadkon pe ghoomtaa hai, ab kaarvaan hamaaraa
   Jitni bhi bildingein thi, sethon ne baant li hai
   Footpath Bambai ke, hai aashiyaan hamaara

   China and Arabia may be ours,
   and Hindustan too;
   but we have no home to live
   all the world belongs to us.

   Evicted from our hovels,
   with not even benches for rest;
   our weary caravan now roams
   this city’s streets, forlorn.

   All the buildings in this city
   are usurped by the wealthy.
   Only the foot-paths of Bombay
   are our true homesteads.

   This is now becoming the specter in all cities and towns. This has to be pointed out since this is connected to the borrowing phenomenon. President Abraham Lincoln said that one cannot hope to become prosperous by borrowing, but his own country is violating this dictum. So I feel Shakespeare’s first advice not to be a borrower is especially relevant now.

2. 

   Tamil and Vedas

    /  May 6, 2019

   THANKS FOR ADDING SHAKESPEARE QUOTATION AND 1958 FILM SONG.