MONET AND CREDIT
363
The following table shows the total liabilities in Banks trading in the
Commonwealth, in the quarter ended June 30, for 5 years : —
Victoria QueeuslU. S. Au.st. W. Aust. Tasmania X. Ter. C'wealth.
££££££^«
'56 246 2=5 311 424 -/»2<>,8*l 5,348,496 177,301 179.743,103
1.101 •.942 877,194
- .007 307,3V,
i Including Papua, 102,509/.
The deposits were 174,979,336?. in 1915 ; 190,954,644*. in 1916 ; 107,281,495/. in 1917 ; 224,706,753/. in 1918 ; and 249,058,254/. in 1919.
The total number of depositors in the Savings Banks in the Common- wealth on March 31, 1920. was 3,076,747, and the amount on deposit, 130,159,051/.
There are 3 mints in the Commonwealth, at Sydney (opened 1855), Melbourne (1872), and Perth (1899). Besides issuing gold coin in the shape Df sovereigns and half-sovereigns they also issue gold bullion, partly for the ise of local manufacturers (jewellers and dentists), and partly for export, India taking annually a considerable quantity of gold cast into 10-oz. bars. The issues during 1917 are shown in the following table : —
Mint
Sydney Melbourne Perth .
Total
Coin
Sovereigns go^SJL
£
l.o.-O.C"
934,469
4,110,286
6,710,75.3
total
£
1,600,000
4,110,2S6
0,710,755
Bullion
£ 4,875
£ 1,788,679 1.0S4.290
4,11.3,101
I 6,»3S,130
Australian notes, authorised by the Australian Notes Act, began to appear in circulation in December. 1910, and for the "first half of the year 1911 circulated side by side With ordinary bank notes. By the end of 1911 the bank notes were withdrawn.
On August 26, 1920, notes issued by the Commonwealth and unredeemed amounted 3,065!. Of this total 1,0001. notes accounted for 23,194,0001., 1J. notes, 14,4S9,2971., and 51. notes, 8,905,605J. The amount of gold held in reserve on that date was 23,212,7571., representing 40.77 per cent, of the liability.
Norfolk Island, 29° S. latitude, 168* E. longitude, area 13 square miles, population (1911) 935 (568 males and 417 females). The island was formerly part of the Colony of New Soutn Wales and then of Van Diemen's Land. It has been a distinct settlement since 1856, and under an Order-in-Cour.cil of 1900 was governed by the Governor of New
- South Wales ; but from July 1 1914, the affairs of the island have" been administered by
the Commonwealth Government. In 1917-18 the imports (mostly from the Commonwealth and New Zealand) were valued at 12.7801., and the exports, 6,4601. To encourage the 'development of the fish industry the Commonwealth Govemmtnt has granted an annuity of 1,0001. for three years to those engaged in the trade.
