38*
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.
