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Q12. Read the source and answer the questions:
“Uṣhavadāta, son of Dinika, son-in-law of king Nahapāna … has bestowed this cave on the Saṁgha generally; he has also given a perpetual endowment, three thousand—3000 kāhāpaṇas, which, for the members of the Saṁgha of any sect, and any origin dwelling in this cave, will serve as cloth money and money for outside life (kuśhaṇa); and those kāhāpaṇas have been invested in guild dwelling at Govadhana—2000 in a weavers’ guild, interest one pratika (monthly) for the hundred, (and) 1000 in another weaver’s guild, interest three quarters of a paḍika (monthly) for the hundred.”
a.
What does this source tell us about the economic role of guilds?
b.
Why were guilds trusted with money deposits?
c.
Identify the donor and the donees from the given source.
Show Answer
a. What does this source tell us about the economic role of guilds?
It shows that guilds (
shrenis
) could function as
banking and credit institutions
. Monetary donations were deposited with professional guilds, which paid a fixed rate of interest on the endowment.
b. Why were guilds trusted with money deposits?
Suggested inference:
The chapter describes guilds as well-established institutions that regulated members, maintained professional discipline and also acted as banks, financiers and trustees. This organisation helps explain why people could entrust them with deposits.
c. Identify the donor and the donees from the given source.
The donor was
Ushavadata
, son-in-law of Nahapana. The cave was bestowed on the
Samgha
, and the endowment was for members of the Samgha living in the cave. The two weavers' guilds were
not the donees
; they were the institutions in which the endowment was invested.
