Shareholders of the bank should all be public institutions, and not private individuals. This does not imply that I have forgotten the fact that the best of the native banks are owned by single individuals or at the most by two or three partners. But the membership of the individual in the district bank would depend not on the individual's capacity, but on the fact of his being the representative or proprietor of a native bank. These institutions being practically the controllers of the national finance in different parts of the country, it is necessary that the shares should not be subject to the same fluctuations as those of ordinary banks or individual companies. As it is to the public advantage that the shares should be as widely distributed as possible - only among responsible native banks - there should be considerable restrictions in the way of transfers and sales. Of course, it is not suggested that individual sales and transfers should be absolutely prohibited; but the state should take care that such operations do not take place in opposition to public interest. No doubt, membership in a district bank would soon grow to be a privilege, and few would care to part with such right; steps, however, should be taken that this privilege is not bandied about at monopoly prices.