Page:Statesman's Year-Book 1913.djvu/915

 FINANCE 793

Repurchase of canal concessions 3,SS7,000

Annuity for redemption of Rentes of 1901. . 251,535,420

Annuity „ „ July, 1000. . 4,807,334

Total 27,538,075,802

Ministry of Instruction :

Debt for school buildings—

For higher instruction 1,399,854

For secondary instruction 3,920,977

For primary instruction 8,736,154

Total 14,056,985

Ministry of Public Works, &c. :—

Annuities to railways 947,845,000

Purchase annuity of Western Railway Company. . 2,661,500,000

Social Insurance 523,600

Total general debt. ... 31,162,001,387 Floating debt (April 1, 1912) 1,395,898,400

Grand total 32,557,899,787

(1,302,315,991/.)

The following table shows the interest and annuities to be paid under the various heads of the public debt, according to tlie budget estimates for 1918 : —

Francs

Consolidated debt 656,389,270

Redeemable debt: interest and amortisation. . 307,552,927 Annuities 326,476,219

Total 1,290,418.422

(51,616,736?.)

The general debt amounts to 1,257,287, 023Z. sterling, and its charge to 38,642,225Z., or the capital is about 32Z. per head, and the charge about 195. 8d. per head of population.

II. Local Finance.

For 1908 the revenue of the departments of France, excluding a balance of 126,610,612 francs, from 1907, amounted to 516,096,408 francs (20,643,856Z.), and the expenditure to 507,728,667 francs (20,309,146^.). The departmental debt stood at 914,873,064 francs (36,594, 922Z.). For 1911 the ordinary revenue of the communes amounted to 1,000,414,614 francs (including 80,929,325 francs for Paris) and expenditure to 965,518,896 francs (including 380,929,325 for Paris), while the debt on December 31, 1910, amounted to 4,254,290,902 francs (including 2,501,548,434 francs, the debt of Paris). For the year 1912, the revenue of the City of Paris was estimated at 447,879,992 francs (17,915,199^.), and the expenditure at the same amount.

The capitalised value of private i)i'operty has been the subject of many calculations, which, however, differ too greatly to be considered as reliable. The estimates by M. de Foville put the aggregate private fortunes at : land, 3,000,000,000?. ; buildings, 2,000,000,000Z. ; specie, 200,000,000?. ; convertible securities, 2,800,000,000Z. ; agricultural implements and live stock, 400,000,000?. ; other personal property, 680,000,000?. ; total private wealth, 8,080,000,000. M. Leroy Beaulieu estimates that the total yearly income of the nation reaches about 1,000,000,000?., of which three-fifths is the product of personal labour. M. Yves Guyot from fiscal data (which he shows provide an insufficient basis for a trustworthy estimate) suggests that the private wealth of France (movable and immovable) is under 9,520 millions sterling, and the revenue therefrom (exclusive of income from agricultural profits and personal work) about 320 millions sterling.