An American Witness to India's Partition
July 22, 1947. “In the last month I have been in Calcutta, Lahore, Delhi, Bombay, Hyderabad State, the Northwest Frontier, Delhi again, and finally Bombay,” begins the despatch on that date in An American Witness to India's Partition by Phillips Talbot (http://www.sagepublications.com/).
One of the ‘interesting factors’ he mentions is the ‘rapid flight of capital’ in Punjab. “Hindu-controlled banks and insurance companies are shifting their head offices from Lahore to Delhi which will remain within the Indian Dominion. Trains and planes are loaded, according to local stories, with gold bullion and currency. Bank accounts are being transferred in large numbers. Houses which sold six months ago for $60,000 are being offered for $20,000…”