Page:Statesman's Year-Book 1921.djvu/436

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THE BRITISH EMPIRE: — VICTORIA

The following table shows the actual amounts of State revenue and expenditure under the principal heads during 1917-18 : —

Heads of Revenue

Amount

Heads of Expenditure

Amount

Taxation : —

£

£

Land tax.

324,232

Governor.

7,448

Duties on estates of

Parliament k Ministry

74,059

deceased persons

718,194

Civil establishments.

309,583

Duty on bank notes.

1,901

Pensions and gratuities

415,295

Stamp duty

581,917

Interest and expenses

Income Tax

928,210

of Public Debt

3,087,059

Race Clubs' percentage

11,154

Railways.

4,261,082

Licences

179,338

Other public works

834,771

Crown lands.

157,557 1,238,873

Total State taxation.

2,744,946

Education, &c. .

Charitable institutions,

Railways

6,422,133

&c. ....

583,008

Crown lands

291,129

Judicial and legal

166,675

Commonwealth balances

Police and gaols.

420,347

received

1,764,239

Mining, agriculture,

Other sources

1,821,641

and stock

593,557

13,044,088

Other expenditure

874,093

Total.

Total.

13,023,407

The amount raised by taxation (exclusive of taxes collected by Common- wealth) as shown in the above table, viz. 2,744,946/., was equivalent to a proportion of 1/. 18s. id. per head of population.

Victoria has a debt, incurred in the construction of public works, which amounted, on June 30, 1919, to 80,678,644/. (inclusive of temporary Treasury bills). Of this debt 56,073,427/. was borrowed for the construction of rail- ways, 10,650,639/. for waterworks, 1,686,787/. for State school buildings, &c, and 12,267,791/. for other public works and purposes. The nominal rate of interest on the public debt varies from 3 to 5 per cent. , and averages 3-85 percent. At June 30, 1920, the debt was 85,251,926/.

The net local ordinary revenue and expenditure (Municipalities, Harbour Trusts, Metropolitan Board of Works, and Fire Brigade Boards) for 1919 were respectively 3,858,794/. and 3,872,528/. The net local debt (exclusive of amounts borrowed first by Government) amounted to 17,418,290/. on June 30, 1919.

The estimated total value of the rateable property of the State in 1919 amounted to about 357,437,822/., and the annual value was 19,027,492/.

Production and Industry.

I. Agriculture.

Of the total area of Victoria about 32,887,940 acres at the end of 1919 were either alienated or in process of alienation. Of the remainder about 4,869,922 acres are at present suitable for agriculture ; 8,444,361 acres for pastoral purposes ; 147,212 acres are held under perpetual lease ; State forests, timber, water, and other reserves, 5,560,065 acres : auriferous land, 635,186 acres; roads, 1,751,757 acres; and unsold land in towns, <kc, 1,949,317 acres.