Page:Statesman's Year-Book 1913.djvu/445

 COMMERCE AND CREDIT 323

III. Manufactures.

The total number of manufactories, works, &c., in 1911, was 5,126, of which U958 used steam or gas engines ; the aggregate horse-power used was 79,515 ; the number of hands employed was 111,948; and the lands, buildincrs, machinery, and plant were valued at 18,257,893l. The value of materials used was 25,064,525l., and of articles produced or work done, 41,697,863l. The wages paid (excluding working proprietors), amounted to 8,911,019l." The manufactures are almost entirely for home consumption.

Commerce and Credit.

The commerce of Victoria, exclusive of inter- State trade, is in- cluded in the statement of the commerce of the Commonwealth of Australia.

The total value of the imports and exports of Victoria, excluding inter-State trade, in five years, was : —

The customs duties collected in 1911 amounted to 3,291,250l., equal to 15 per cent, of the total value of oversea imports.

The chief exports are gold, wool, live-stock, cereals, butter, hides, and skins, and meat frozen or preserved.

Shipping and Communications are dealt with under Australian Commonwealth.

A branch of the Royal Mint was opened at Melbourne on June 12, 1872. Up to Dec. 31, 1911, 34,362,440 oz. of gold, valued at 135,322,068l., was received at the mint, and gold coin and bullion issued of the value of 135,323,885l. No silver or bronze coin is struck at the Melbourne Mint.

On 30th June, 1911, the Savings Bank of Victoria (with which have been amalgamated the Post Office Savings Banks) had 103 banks and branches with 319 agencies at post offices in the State. On the 30 June, 1912, there were 641,736 depositors, with a total balance of 19,662,466l. There is a special branch of the Savings Bank, called the "Advances Department," which makes advances to farmers and others at a low rate (4½ and 4¾ per cent.) of interest, repayable by instalments extending over a term not exceeding 31½ years. The requisite funds are raised by the issue of bonds, taken up either by the Commissioners of Savings Banks or by the general public, and repayable by half-yearly drawings. The amount advanced during 1910-11 was 263,900l.

During the last quarter of 1911 there were in Victoria 12 banks, possessing 693 branches and agencies, with notes in circulation, 235,492l., deposits 47,485,600l., the total liabilities being 48,158,503l. ; gold and silver, coined and in bars and Australian notes, 8,761,444l. ; landed property, 1,672,923l. ; advances, &c., 38,908,838l. ; total assets, 49,343,205l. Total paid-up capital, 14,529,658l. Rh