"The people are poor; and their poverty raises the question whether the general level of well-being could not be materially raised by the development of industries. It is also clear that the lack of outlet for educated youth is a serious misfortune which has contributed not a little in the past to political unrest in Bengal. But perhaps an even greater mischief is the discontent aroused in the minds of those who are jealous for India by seeing that she is so largely dependent on foreign countries for manufactured goods. They noted that her foreign trade was always growing, but they also saw that its leading feature continued to be the barter of raw materials valued at relatively low prices for imported manufactures, which obviously afforded profits and prosperity to other countries industrially more advanced. Patriotic Indians might well ask themselves why these profits should not accrue to their country: and also why so large a portion of the industries which flourished in the country was financed by European capital and managed by European skill." "The fact that India's foreign trade was largely with the United Kingdom gave rise to a suspicion that her industrial backwardness was positively encouraged in the interests of British manufactures, and the maintenance of the excise duty on locally manufactured cotton goods in the alleged interests of Lancashire is very widely accepted as a conclusive proof of such a purpose. On a smaller scale, the maintenance of a Stores Department at the India Office is looked upon as an encouragement to the Government to patronize British at the expense of local manufacturers." There can thus be no autonomy without fiscal autonomy. In fact, the latter alone is the determining characteristic of an autonomous existence.