Page:The New International Encyclopædia 1st ed. v. 02.djvu/318

AUSTRALIA. short line in Northern South Australia with the system in the south.

. The telegraph and a major portion of the telephone system are in the hands of the Government, and progress in their development has been very rapid. In 1871 there were 11,500 miles of telegraph line; in 1899, 44,200 miles. There are now north and south, and east and west lines across the continent. The messages average over 2 per capita of the population annually, or twice that for the United States. A cable connects Port Darwin with Java, and through that with the European cables; and another connection is made through a wire extending from Broome, Western Australia, to Banjuwangis. Other lines connect Broome with Adelaide, Victoria with Tasmania, New South Wales with New Zealand, and Queensland with Bundaberg.

. In a country which produces raw material so largely, and manufactured products so little, the trade with other nations is naturally enormous. Australia exceeds all countries in her per capita production, and all except Belgium in the per capita value of her trade. With a smaller population than Canada, both her imports and exports are nearly double those of the latter. The following table shows the increase in the tonnage entering and clearing the Australian ports:

Total Tonnage Entered and Cleared

State 1861 1881 1899 New South Wales 745.696 1,090,002 44,645 199,331 115,256 230,218 2,786,500 2,412,534 882,491 1,359,591 285,046 383,762 6,995,651 5,341.455 Queensland 1,464,063 3.619,251 Western Australia 2,038,648 1,318.117 Commonwealth 2,425,148 8,109,924 21,377,085

Of the tonnage, the interstate shipping constitutes about 22 per cent. British vessels constitute 85 per cent. (19,500) in the entries and clearances of all the foreign vessels doing business with Australia. This is a smaller proportion than in former years, whereas the entries and clearances of vessels from the Continental countries of Europe, as also the trade with the Continental countries (particularly France and Germany), is relatively increasing. The tables below indicate the development of the total foreign trade, and of that with the principal foreign countries. (The total includes, also, New Zealand, which amounts to a little over one-fifth of the whole.)

Imports direct from 1881 1891 1899 United Kingdom $128,310,000 1,700.000 1.125.000 2.905.000 $164,115,000 1,845,000 8,865,000 14,650,000 $133,790,000 France and New 1 Caledonia J 2,835.000 11.220,000 26.196,000 Total Imports $166,716,000 $207,040,000 $200,116,000

Besides the increasing relative importance of non-British trade, the most remarkable fact is the growing importance of the exports as compared with the imports. Wool, gold, and metals constitute the bulk of the leading exports, and manufactured articles that of the imports.

Exports 1881 1891 1899 United Kingdom $121,710,000 1,680,000 3.50.000 6.490.000 600.000 $163,190,000 9,175,000 4,315,000 16,345,000 7,425,000 $179,960,000 France and New J Caledonia J 19.465,000 14,505,000 United .States 16,485.000 11.235.000 Total Exports $166,050,000 $216,215,000 $288,365,000

In Australasia there are twenty-two banks, most of them having numerous branches in Australia. The banks are organized on a broad basis of ample capital and surplus, and until the crash of 1893 they enjoyed almost uninterrupted prosperity. In that year fourteen of the twenty-six banks then in operation failed. The misfortune was inevitable, in the general condition of affairs. The extensive borrowing of the Government and the construction of public works had led to speculation and a general inflation of prices. When further loans by the Government became impracticable and work stopped, the masses were without employment, money grew 'tight,' and runs on the banks followed. The banks were quickly reorganized, however. The paid-up capital of banking companies now operating in Australasia increased from about $73,000,000 before the crisis to more than $105,000,000 in 1900. The total liabilities of the banks of the Commonwealth in 1900 exceeded $472,000,000; the assets $578,000,000. The deposits aggregated $450,000,000; the coin reserve amounted to $105,000,000; and the bullion, $6,000,000. The savings banks are to a certain extent under State control, and enjoy the public confidence. The post-office savings banks are operated in conjunction with the post-office. The number of depositors in the Commonwealth savings banks increased from 110,000 in 1871 to 909,000 in 1900, and the deposits in proportion. The combined deposits of banks of issue and savings banks in 1900 exceeded $593,000,000. Gold is the standard of currency, and the coins circulating are of the same denomination as those of Great Britain.

The Commonwealth of Australia is a Federal State under the supreme authority of the Crown of Great Britain, and was so constituted on January 1, 1901, by the union of the British colonies of New South Wales, Victoria, Queensland, South Australia, Western Australia, and Tasmania. The provisions of the Federal constitution will be found treated in detail under Australian Federation.

The Australian States have always been opposed to the maintenance of a standing army; yet a fairly complete system of fortification has been constructed, to man which has required a standing army of less than 2000 men. The volunteer service on partial pay has been the most popular system. (See .) For the purposes of coast defense, there are a British fleet consisting of four cruisers and a small number of gunboats and sloops, and an auxiliary fleet of five cruisers and two torpedo boats. The interest on the cost of maintaining the auxiliary fleet is paid by the Commonwealth,