The State in Ancient India: A Study in the Structure and Practical Working of Political Institutions in North India in Ancient Times c14.115

c14.115

Passing from agriculture to commerce, Kauṭalya would license merchants to collect grains and other commodities for wholesale business and would confiscate the goods of unlicensed mercantile houses. On a variety of considerations such as the outlay of capital, the interest thereon, the quantity manufactured, the amount of toll, the expenses of hire, and so forth, the Superintendent of Commerce should strike the balance and fix the prices. In wholesale transactions a five per cent. profit should be allowed on home commodities and ten per cent. on foreign ones. But if the merchants failed to dispose of their stock wholesale, or if obstructions in traffic put them to loss, a higher rate of profit should be allowed.