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than 1,000 nor more than 3,000 acres; the rent was to be 2d. per acre for the first fifteen years, and 3d. per acre during the remaining years. In Class 3 the area was to be not less than 1,000 nor more than 5,000 acres; the rent was to be 1d. per acre for the first fifteen, and 2d. per acre for second fifteen years of the lease. Homestead leases might be obtained by any person of the age of eighteen years; no more than one homestead lease could be held by one person. The lessee must pay half the cost of survey, but could do so in five equal annual instalments; he, or some person on his behalf, must take possession within the first six months, and must reside on the lease for nine months every year for the first five years. The lessee must fence in one-half the area within the first two years and the whole within the first four years, and must keep the fence in repair. From the sixth to the fifteenth year, both inclusive, he must expend annually 8d. per acre on improvements on Class 2, and 5d. per acre on Class 3 lands. Failure in fulfilling any of these conditions entailed forfeiture. If he paid his rent, half the cost of survey, erected required fences, maintained exterior fences, expended on improvements a sum equal to the total rent payable for the last twenty-five years of the lease, and complied with the conditions of residence, the lessee might obtain a Crown grant immediately "on payment a sum amounting to the difference between the total amount of rent already paid and the value of the land calculated at 6s. 3d. an acre if of Class 2, and 3s. 9d. an acre if of Class 3." When the homestead lease had been fenced and resided on for five years by the lessee or his deputy he might transfer the whole thereof to any person not already a homestead lessee.

The Homestead Act offered a farm to the man wishing to settle on the land, and the Agricultural Bank Act 1894 advanced him money. Under the latter Act a bank might be established and maintained for the purpose of "promoting the occupation, cultivation, and improvement of the agricultural lands of the colony." The funds necessary for carrying on the bank were to be raised by the sale of mortgage bonds, or by other moneys provided by Parliament. The Colonial Treasurer was to issue the bonds, which were not to exceed in the aggregate £100,000, bearing interest not exceeding £5 per centum per annum. The manager of the Agricultural Bank might make advances to farmers or other cultivators of the soil on the security of their holding in fee simple, or under special occupation lease or conditional purchase from the Crown, or on a homestead farm. The money lent was not to bear interest exceeding six per cent., and was to be applied for the purpose of making improvements on unimproved holdings, or adding to improvements already made on holdings. Advances were not to exceed one-half of the fair estimated value of the improvements proposed to be made, and no advance or advances to any one person must exceed £400. When the manager approved of applications he must recommend them to the Governor; the advances were to be paid by instalments as the improvements proceeded. The repayment of advances were to be secured to the manager by deed or instrument of mortgage, and, in case of holdings other than in fee-simple, by transfer to the manager of the lease or other document of title. "Improvements" for the purposes of the Act meant clearing, cultivating, or ringbarking. Five years after issue of the loan the borrower must begin to repay it at the rate of one-fiftieth of the principal sum half-yearly. Should any half-yearly payment principal or interest be unpaid within twenty-one days after due date the manager might enter and distrain on the land charged. The clause relating to advances was subsequently amended, and permitted a person to borrow up to three-fourths of the fair value of improvements, and provided for advances up to £800.

The advantages of this institution are self-evident. In 1894 Mr. W. Patterson, M.L.A., resigned his seat in Parliament, and became Manager of the Agricultural Bank. His knowledge on land matters specially fitted him for the duties. The bank has utilised £52,425 out of the £100,000 allocated as its capital. In 1894 some 11,583 acres were taken up for homestead farms; in 1895, 13,894 acres; in 1896, 30,704 acres; and up to September, 1897, 61,069 acres. Homestead leases were not applied for with much eagerness until 1897. At the end of 1896 six of these leases, aggregating 7,843 acres, were in existence, and in September, 1897, the figures had risen to forty-nine leases representing 66,147 acres. Indeed the selections in 1897 greatly exceeded those of previous years, demonstrating a revival of interest in agricultural matters. There was considerable influx of farmers from the Eastern colonies to the South-West Division lands in Western Australia. The future of the agricultural industry is now brighter than it has been for years past. The Government has reduced the cost of transit for cultural and pastoral produce on the railways. In 1893 there were 83,714 acres under crop including wheat 42,673 acres, hay 29,590 acres, vines 1,643 acres, and orchards and yards 2,040 acres. The average yield of wheat was 12 2-10th bushels per acre. The total area under crop for the year ending 28th February, 1897, was 111,738¼ acres, including 31,488½ under wheat, 69,436½ under hay, and 2,294 acres under vines. The average yield of wheat per acre was 7.75 bushels.

The export of timber was valued at:—In 1893, £33,888; 1894, £74,804; in 1895, £88,146; and in 1896, £116,420. The export of sandalwood was valued at, in 1893, £32,160; in 1894, £23,430; in 1895, £30,863; and in 1896, £65,800. The timber industry is increasing, and certain companies employ each from 200 to 400 men in the forests. Notwithstanding that this is an old industry the excellence of the hardwoods are only now becoming generally recognised. Western Australia has immense wealth centred in her forests, and the industry is considered by many to be second only to gold in importance. Mr. J. Ednie-Brown, F.L.S., F.R.H.S. (Conservator of Forests for Western Australia), gives the total area of the principal forest surface of the colony as:—

The estimated quantity of matured timber on Crown lands is 62,300,000 loads, which is said to be worth to the country 60s. per load. By deducting one-third for waste in sawing, the value of marketable timber is given, in round numbers, at £124,000,000. Mr. Ednie-Brown remarks of the timber industry in his report: "I have not been privileged to deal with anything so full of possibilities towards permanent national wealth as this is." For wood-paving, dock and jetty construction, and all works requiring durability in timber, the "hardwoods of Western Australia stand unrivalled in the world" ("Customs Report").

The exports of guano and pearl shell were:—