BBT and debt

Expressions researched:
"BBT" |"Book Fund" |"debt" |"debtor" |"debts"

Notes from the compiler: VedaBase research queries: (1) bbt or "book trust"or "bhaktivedanta trust" or "book fund" or "book funds" and debt*; (2) "bbt debt*"#3

1975 Conversations and Morning Walks

Conversation with the GBC -- March 27, 1975, Mayapur:

Prabhupāda: Loan is also debt.

Atreya Ṛṣi: Yes. But if they are buying BBT books, if... On the books it may seem debt, but in fact he should know that he's going to pay for it in the very near fu... That you do not consider need approval, do you, Śrīla Prabhupāda?

Jayatīrtha: The books are sold on consignment.

Prabhupāda: No, and that is all right. That is all right.

Jayatīrtha: If they fall behind, then it becomes a debt.

Tamāla Kṛṣṇa: That's different. Thirty days pay...

Atreya Ṛṣi: In other words, as long as he meets the terms, it's not a debt. It's not a loan.

Prabhupāda: That's it.

Conversation with the GBC -- March 27, 1975, Mayapur:

Atreya Ṛṣi: ...that Your Divine Grace and group, when you travel, there needs to be also... Every temple should contribute to that as well.

Prabhupāda: Well, if every temple cannot contribute, I shall manage from the BBT fund. That is not a problem.

Atreya Ṛṣi: You want...? I am using that merely as a...

Prabhupāda: And if you can pay, it is all right. If there is deficit, BBT will pay. You don't bother.

Atreya Ṛṣi: Yes. But in this Gurukula project, Śrīla Prabhupāda, temples are having difficulty in paying their debts to BBT already. I don't think they will respond, respond. On one hand, BBT, Ramesvara Prabhu is recommending that we reduce the cost of books, and on the other hand, it's being recommended that the tax for Gurukula be collected.

Prabhupāda: No, no, cost of book... Cost of books?

Atreya Ṛṣi: Not cost. Price of books.

Jayatīrtha: Yes, price of...

Prabhupāda: Cost of selling price.

Conversation with the GBC -- March 27, 1975, Mayapur:

Jayatīrtha: O.K. (Reading) "To insure that the highest standards, including spiritual temple worship, saṅkīrtana propaganda, recruitment of new devotees and life members, financial management and repayment of all debts are being adhered to."

Prabhupāda: Why debts? Debts should be avoided. Not payment, but one should not make debt.

Jayatīrtha: But that... All temples... All the temples are in debt.

Prabhupāda: Why? That's not... Debts are very wrong. (?)

Jayatīrtha: Either they owe BBT money or they owe bank money.

Prabhupāda: That is not good. Debts should be... No debts. If any temple wants to make debt, it must be sanctioned by the GBC committee.

Jayatīrtha: Yes.

Prabhupāda: Make it clear.

1976 Conversations and Morning Walks

Evening Darsana (on night of arrival) -- August 16, 1976, Hyderabad:

Prabhupāda: By the grace of Kṛṣṇa, we have no debts. We are (indistinct) simply find out... (?) Now in Bombay I am getting from my Book Fund seven lakhs of rupees per month regularly.

Indian man (3): Yes, ten lakhs per month is coming. Otherwise that work will not progress.

Prabhupāda: We have given them three lakhs of rupees.

1977 Conversations and Morning Walks

Discussions -- June 2, 1977, Vrndavana:

Prabhupāda: How much he has returned?

Rāmeśvara: How much have you paid back originally?

Jayapatākā: Only one payment has come through. I paid the first thing.

Rāmeśvara: No, no, no, of the seventy thousand.

Jayapatākā: No. Seventy thousand? We have no debt with BBT. We're paid up.

Rāmeśvara: How much have you paid so far?

Jayapatākā: Since April I've paid twenty-one thousand.

Rāmeśvara: He's already paid twenty-one thousand rupees of it back.

Prabhupāda: So you can take fifty thousand also. If they have returned twenty-one thousand, you can pay fifty thousand, loan more.

Gopāla Kṛṣṇa: We can pay fifty thousand...?

Rāmeśvara: He'll take a loan.

Prabhupāda: Give and take, give and take, give and take.

Conversation with Bhakti-caitanya Swami-New GBC -- June 30, 1977, Vrindaban:

Bhakti-caitanya: Yeah, I give them up, last time when Gopāla was there about month ago, I gave him about five thousand rupees. I gave. But I keep some, you know. The point is that if I will get the books, from the books I could make up money. If I will go like as this...

Prabhupāda: No, no. What is your debt to the BBT?

Bhakti-caitanya: Fifteen thousand rupees.

Prabhupāda: So why don't you pay?

Bhakti-caitanya: I will pay it.

Prabhupāda: Then let him.

Tamāla Kṛṣṇa: In advance?

Bhakti-caitanya: I will pay in two installments. I will pay...

Prabhupāda: But that...

Bhakti-caitanya: I will pay seven thousand...

Prabhupāda: Yes.

Room Conversation -- October 27, 1977, Vrndavana:

Prabhupāda: I could not follow what he said.

Tamāla Kṛṣṇa: He says... He found out that the Bombay temple owed the BBT seventy thousand rupees. So he says when he heard that you had decided that you wanted to live and not leave us, he got very encouraged and inspired. So he decided on his own that he wanted to pay back this money to the BBT for you. He says, "I have been encouraging all the preachers here at ISKCON Bombay to go out and collect the money to pay off this debt to the BBT. Śrīla Prabhupāda has made all this arrangement very easily because of his encouragement to us. Even devotees who have engagements where they are not likely to make a life member are making life members very easily and are collecting money. And even persons not expected to become members are now becoming members. This is all due to the desire in the hearts of the preachers here in Bombay to serve Śrīla Prabhupāda.

1970 Correspondence

Letter to Murari -- 74, Marine Drive, Bombay 20 Nov. 17, 1970:

Now that you are in London please try to eliminate this L4000 debt, the balance of which is unpaid Back to Godhead bills. The magazines and books are in great shortage of funds simply because the temples spend their income from literatures for temple maintenance and neglect the primary work of this Society, which is to print and distribute an increasing number of books. So please try to assist me in this way, by eliminating this debt. I have given you the hint that if you send me $10,000 you may keep the balance of profits from Krsna book to help pay this bill. Now this is my request, that you simply distribute these books immediately and deposit $10,000 in the Bhaktivedanta Book Fund Deposit with Dai Nippon in Japan.

1971 Correspondence

Letter to Advaita -- Bombay 18 March, 1971:

Regarding Bhagavad-gita As It Is, this book is very urgently required. You had previously quoted a price of $17,000. So why print in Dai Nippon for $20,000 and lose $3,000? If it is possible to print on our press, that is better, but if not then Dai Nippon may do the printing. It is understood that BTG department has become debtor to Dai Nippon by $52,000 and they wanted to stop printing on BTG. I have therefore immediately paid them $20,000 out of my book fund so that BTG may not be stopped. I think that there is a lack of management in realizing the return on BTG. The idea is like this: If you print 200,000 BTG and collect at least 25 cents per copy, the collection is $50,000. Out of that, $14,000 is paid to Dai Nippon. So why there should be scarcity of money? It is simply mismanagement.

Letter to Bhagavan -- Bombay 21 April, 1971:

Please accept my blessings. I beg to acknowledge receipt of your letter dated 12th April, 1971 and have noted the contents carefully. I have received your latest letter that Dai Nippon debt is now about $80,000. Formerly it was known to be $50,000. I have loaned $20,000 from the book fund. I think two more issues must have been supplied by them. Then the total amount due to them should be at about $80,000. This amount is too much. How do you expect that they will give us so much credit? So you must make a serious attempt how to liquidate this debt. Otherwise they will stop printing.

Letter to Karandhara -- Bombay 22 April, 1971:

I have received from Calcutta the bank receipt for $35,000 and I thank you very much. I am expecting that you will continue your payments promptly to eradicate the debts to my book fund account from loan to the purchase of the L.A. Temple, the $8,000 and the $20,000 loans to BTG account. It is good news that you have received the third edition of KRSNA I. All our books should be sent by Dai Nippon to L.A. and from L.A. you should distribute them all to Europe and America and collect the returns.

Letter to Karandhara -- Bombay 22 April, 1971:

Another thing is that we are in correspondence with Dai Nippon; they are trying to mingle the BTG account with my "Bhaktivedanta Book Fund Deposit" (BBFD) account, making them one. So unless you hear from me, you do not send more than $3,986.56 to the BBFD with Dai Nippon, which is the balance due at this time. You can send the BTG payments to them as usual but not any money for my Book Fund. They thought that because I have given $20,000 on behalf of BTG, I should pay off the entire debt of BTG from my Book Fund. So don't send them money for Book Fund until I inform you otherwise. Also, the Gujarati Indian devotees in San Francisco wanted to pay $20,000 for the printing of Bhagavad-gita As It Is. I do not know what is their position now; please let me know about this.

Letter to Karandhara -- Bombay 26 April, 1971:

P.S. So far as sending money to my book fund for the Dai Nippon debt as advised in my previous letter, henceforward $3000.00 should be sent only. The next installment of paying my book fund should be paid to my Bank of America checking account #3081-61625 until further instruction to you. Your reply to Dai Nippon was very correct. I do not like their policy of intermingling Bhaktivedanta Book Fund deposit with BTG account. I am awaiting their further reply in this connection. Then I shall advise you to send directly to the book fund.

1972 Correspondence

Letter to Rupanuga -- Honolulu 9 May, 1972:

Please accept my blessings. I beg to acknowledge receipt of your letter dated May 5, 1972, and I have noted the contents carefully. There seem to be vast discrepancies between your figures and those of Karandhara. For instance, he reports that since first of January, 1972, New York has remitted only $1243 to BTG Fund and $1538.20 to Book Fund, leaving balances due to BTG and Book Funds of $4571.05 and $5235.90 respectively. But you say your BTG debt is only $1,620 and BKF debt is only $3,897. If you are selling daily average of 2,000 literatures, why so little money is being paid by you on these debts? 60,000 pieces of literature per month means you should send the entire amount collected until this debt is completely eliminated. It is not good if such big temples who are setting the example for the whole Society do not pay their bills. This is most irregular. I am trying to retire from the administrative affairs, but if the presidents and GBC men make such disturbances then how I can be peaceful? Things should be maintained automatically, then it will be peaceful for me.

Letter to Bhavananda -- Los Angeles 1 June, 1972:

Please accept my blessings. I am in due receipt of your letter dated May 23, 1972 and I have noted the contents with great encouragement. I am glad to see that everything is going very nicely there in Calcutta and Mayapur, and that you are gradually paying back the book fund debt more and more.

Letter to Damodara -- London 6 August, 1972:

Please accept my blessings. I beg to acknowledge receipt of your letter dated July 30, 1972 and I have noted the contents carefully. Regarding your debt to the book fun and Back to Godhead fund and incense from 'Spiritual Sky', these debts must be paid, that is important business. Along with our preaching and propaganda work, we must also give attention to financial matters, otherwise the whole thing will collapse and it will be a farce. If there is good financial standing it is understood that Laksmi is favorable because her husband Narayana is being served nicely. If Laksmi is unfavorable, then we must increase our preaching efforts, and strive for pleasing the Supreme Personality of Godhead.

Letter to Damodara -- London 6 August, 1972:

So far your purchasing that building is concerned, if it is a great endeavor, how can you manage? If you have so many debts to the book fun and Spiritual Sky business, how can you take more debts to the book fund? We are not very much for owning buildings, our real business is to preach and propagate Krishna Consciousness widely. Washington D.C. is the capital of your country, and therefore it is a very strategic location for preaching amongst the nations leaders. Concentrate on this work, and the sankirtana and book distribution activities, and if you wait until there is solid financial basis before purchasing, what is the harm? But if we spend our whole time simply to earn money to pay for big, big buildings and decorations, what is the value? I am more interested in preachers than builders and decorators. But if you think you are able, and there is good opportunity, you may purchase, I have no objection.

1973 Correspondence

Letter to Tamala Krsna -- Bhaktivedanta Manor 20 July, 1973:

Now you have taken a loan of Rs 1,50,000 from the BBT, so with these excellent collections you are now taking I request you to fill up that debt and then collect further, and the balance I shall arrange. I have read how you have dispersed your recent collections to repay BBT, and Vrindaban construction and it is all right. Please deal cautiously and do not spend unnecessarily.

Letter to Jagadisa -- Bhaktivedanta Manor 15 August, 1973:

The book fund debts should always be cleared very quickly, otherwise how books will come out, so always pay regularly as you collect.

Letter to Mukunda -- Bombay 9 October, 1973:

Please accept my blessings. I beg to acknowledge receipt of your letter dated 27th September, 1973, I am very glad that within the month of September you have dispatched over $10,000. to the Book Fund. So London Temple is debtor about $50,000. So if you continue with enthusiasm like this within three or four months you can liquidate the amount. This will be a great credit for you.

Letter to Mukunda -- New Delhi 6 November, 1973:

Please accept my blessings. I beg to acknowledge receipt of your letters dated October 25, October 29, and the letter from Scandinavian Airlines. So it is a great credit that you have reduced the BBT bill, so make it nil and it will be greatest credit for London. London temple was always bad debtor to BBT, but by your management it is becoming a very good atmosphere. Syamasundara was here, but he has now gone to Hyderabad.

Letter to Balabhadra -- Los Angeles 13 December, 1973:

understand from Sudama Goswami that Gaurasundara has handed over to you some portion of the proceeds from the sale of the Temple there. I do not know why he has sold the Temple without my permission. He had no right to do such a thing. I request that you kindly send whatever money he has given you directly to me in Los Angeles by registered post. The old Temple BBT and Spiritual Sky debts may be cleared with it first and the rest should be sent directly to myself. We require huge sums of money for our Temple projects in Vrindaban and Mayapur so we have good use for it.

1974 Correspondence

Letter to Tamala Krsna -- Los Angeles 11 January, 1974:

Regarding the BBT debt of Calcutta, you can wait for that. Not that the payment can be washed off, but we can wait.

Letter to Jayatirtha -- Bombay 5 May, 1974:

You have also written in a letter to Satsvarupa that temple donations are being put toward the Indian BBT debt. Please, let me know in this connection what is the amount taken from donations and transferred to the BBT account for the book debt by India? Also I will request you that as much book debt amount as you receive from donations you should again dispatch that amount in new books to India. There is not sufficient stock of books here. Whatever variety of books are in stock send according to the amount paid against the debt.

Letter to Hamsaduta -- Bombay 8 December, 1974:

Regarding Spiritual sky becoming independent from ISKCON, that's all right. I have no objection. But whatever the owe to BBT must be repaid. We have already suggested that Spiritual Sky be separate, but all debts must be repaid to BBT.

1976 Correspondence

Letter to Rupanuga -- Bombay 11 January, 1976:

The bombastic distribution of Krsna Trilogies in New York is wonderful. I have read the report given in the Sankirtana Newsletter. But one thing is whether they have collected enough to cover all the costs. I have heard that despite all this distribution, now there is a big debt to the Book Fund. The GBC has to manage so expertly that there will not be debts. This debt to the Book Fund must be cleared immediately, if possible by the Mayapur meeting. Now we require so much money for the Temple projects in India, but if the Temples do not pay their book bills from where will I get the money?

Letter to Jayatirtha -- Mayapur 22 January, 1976:

Your Zone's book distribution is most commendable. It is to your credit as a good manager that there are now no longer any debts to the Book Fund from the Western USA Temples. Now you will have to meet a very stubborn competitor, Madhudvisa Swami, who I have sent to New York to organize the new building and preaching activities.

Letter to Pusta Krsna -- Mayapur 23 January, 1976:

I am very glad to know that you have already purchased the Mercedes. For such a long time this car has been required and now you are fulfilling that desire. Thank you. But you must pay your entire debt to the Book Fund in the future, otherwise you will become that disciple who spends the money of his Spiritual Master.

Letter to Ramesvara -- Mayapur 23 January, 1976:

I have received a letter from Pusta Krishna Swami. He has already paid for the Mercedes from his own money and he intends paying his debt to the Book Fund entirely in the future. Considering this, there is no need for Radha Damodara Party to pay for the car. Their money is already engaged for construction.

Letter to Sukadeva -- Mayapur 4 February, 1976:

I am very glad to know that you have worked so diligently that the BBT debt has become almost nothing. It is very good that you have gone to Hawaii. It is a very good preaching field and our house there is one of the nicest in ISKCON. It simply requires very enthusiastic preaching and side by side very careful management. So I am confident that you can do both.

Letter to Brahmananda -- Mayapur 9 February, 1976:

It is good that you are paying your debt to the BBT. Please continue to do that.

Letter to Giriraja -- Honolulu 5 May, 1976:

Now, I originally owed Rs. 59,000/-, and I sent 2 telegraphic transfers totalling Rs. 23,654/32 from Melbourne, Australia (see my letter dated 27th April, 1976 to you). So this left the balance at Rs. 35,345/68. However, I gave you Rs. 5,000/- when I (by transfer also) was in Bombay, so the remainder is Rs. 30,345/68. Now, this check for U.S. $2,871.45 is approximately Rs. 25,411/06 at the rate given here of U.S. 11.3 cents equals one rupee. So this leaves the balance at Rs. 4,934/62. This amount will be paid by Yasodanandana Swami. He will give Rs. 5,000/- towards the Bhaktivedanta Book Trust account 16066, and the remainder of the loan, Rs. 10,000/- will be paid into my personal account at the Punjab National Bank, Krishna Balarama Mandir branch, savings fund account number 1. In this way he can repay the loan of Rs. 15,000/- and my debt to the BBT will thus be cleared.

Letter to Jayapataka -- Los Angeles 6 June, 1976:

Concerning the request for another vehicle for preaching, you mentioned the cost of $9,500, Ramesvara Maharaja has informed me that Gargamuni Swami still owes $13,000 or so from when he was in America to the BBT. Ramesvara Maharaja has proposed that Gargamuni Swami purchase the vehicle and then Ramesvara could deduct this amount from Gargamuni's debt with BBT.

Letter to Ramesvara -- New Vrindaban 24 June, 1976:

Concerning the $12,000 given to me by Jagat Guru Maharaja, that has nothing to do with Nairobi debts. It was an individual contribution to the book fund. Contributions and debt clearing are two different things.

Letter to Yasodanandana -- New Vrindaban 24 June, 1976:

As yet I have not received a confirmation from

(TEXT MISSING)

which I had sent to him c/o Hyderabad temple. Also, the BBT Bombay says that you owe Rs. 83,000 to them. So why haven't you paid yet? You are such a big preacher, why you shall remain in debt?

Letter to Gargamuni -- New York 11 July, 1976:

Please accept my blessings. I am in due receipt of your telegram and I have informed Gopala Krishna to supply you with the needed books. However, he has complained that you have a large debt to the BBT and you are not paying it off. So I request you to gradually reimburse the BBT in Bombay.