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PROBLEMS OF EMPIRE. South Australian railways would have been enabled to keep this traffic very much longer, and would probably have been able to extend it for a time had the line been carried as I suggest. The only possibility of the Northern line ever becoming remunerative is through the discovery of a rich mining district in the centre of the continent. The idea of ultimately extending the line right across the continent deserves a passing notice. The present termini at Oodnadatta and Pine Creek are over 1000 miles apart; the country between them is a desert. The line would cost at least 5,000,000l. to construct, and would not under any at present conceivable conditions be valuable for through traffic. It is obvious that no goods traffic would pass this way from the southern parts of Australia, on account of the cost of carriage by rail as against the cost of carriage by sea. Little passenger traffic could be expected. Port Darwin is 3000 miles from Colombo, Albany is only 3350 miles, and Adelaide 1000 miles further. It is safe to say that few travellers would prefer the certain discomfort of a journey across the central desert of Australia to the possibility of a rough passage across the Bight without a very substantial saving in time. There would be none at the present rate of railway travelling in Australia.

The rate of interest earned on capital for the year 1895–96 has already been stated to be 3&middot;21 per cent. The actual interest charges amounted to 468,374l., and there was a deficiency of 64,896l. to be made good from the general revenue. Though this result compares favourably with the position ten years ago, it is very much less favourable than it has been in many of 228