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The Pamphlet Collection of Sir Robert Stout: Volume 70

Arrivals of New Capital per 1000 Population in each Five-Year Period

Arrivals of New Capital per 1000 Population in each Five-Year Period.

Period. Victoria. New South Wales Queensland.
Total £. Total £. Total £.
1887 to 1881 1,883 7,523 4,745
1882 to 1886 13,220 25,958 34,657
1887 to 1891 34,165 3,982 12,427 *

Figures like these most not be passed by with indifference. They are fraught with the deepest interest for all who desire to understand Australian affairs. We see that in Victoria during the first period of five years the arrivals of new capital equalled £1,883 for every thousand of the population, and that in the second period the amount rose to over £13,000, and in the third period to no less than £34,000, The most vivid idea of the influence of all this new capital is, however, to be gained by calculating the amount per the average family of five persons, This comes out at £9, £66, and £170 respectively for the three periods. Was ever before financial madness carried to such a point as indicated by this last figure? In New South Wales the new capital per family was equal to £38, £130, and £20 for the three respective periods. In Queensland the new capital, per family was £24 the first period, and £173 the seconds period. A sweeping change was effected during the third period, for not only was there an entire stoppage of the supply of new capital, but a drain equal to £62 per family, for interest had to be met With the whole of these marvellous figures before us, we are better able to understand some of the sudden and remarkable ups and downs in the prosperity of these colonies during recent years, It will be noted that in all of the three colonies the second period (the years 1882 to 1886) there were large imports of capital and marked prosperity, whilst in the last periodic movement of new capital towards Victoria was continued at i wonderful acceleration of speed, and in New South Wales showed a signal reduction, and in Queensland came to a dead stop. The page 17 flow of capital into Queensland during 1882 to 1886 equalled, per head of population, the wonderful flow into Victoria during Ike next following five years. There need be no surprise at the very extreme depression existing during the last few years in Queensland when it is noticed that the difference between the receipts of the second period and the payments of the third period taken together meant fifteen millions, or £235 for every family of five persons, which is equal to £47 per year, a difference slightly higher than that shown in New Zealand between what we may call the fat and the lean years.

The growth of population in the three colonies during the respective periods dealt with was as follows:—

* Sent away.