THE BALANCE OF INDEBTEDNESS, 1918-28 207 
the diminished surplus of British capital it is possible to tabulate 
with a high degree of accuracy the Australian borrowings, year 
by year, and to calculate with some certainty the amount of 
TasrLe XLVI 
Numbers and Expenditure of Tourists in Australia 
Vear. 
1920 
1921 
1922 
1923 
1924 
1925 | 
1926 
1927 
1998 
FIRST CLASS. 
Number. | Amount. + Number. 
£m. 
OTEBER CLASSES. 
Amount. 
£m 
13,000 
10,000 
9,000 
9,000 
9,000 
10,000 
10,000 
10,000 
10.000 
1-950 
{-500 
1-350 
1-350 
-350 
-500 
-500 
+500 
500 
14,300 
1,000 
10,500 
:0,000 
1,000 
1,000 
12,000 
13,000 
4.000 
1-144 
0-880 
0-840 
0-840 
0-880 
0-880 
0-960 
1-040 
1-120 
Total. 
£m. 
3-094 
2-380 
2-190 
2-190 
2-230 
2-380 
2-460 
2-540 
2.620 
TasrLe XLVII 
Numbers and Expenditure of Australians Abroad 
Vear. 
1920 
1921 
1922 
1923 
1924 
1925 
1926 
1927 
[928 
FIRST CLASS. | 
| Number. | Amount. 
£m. 
14,000 
11,000 
9,000 
9,000 
10,000 
10,000 
11,000 
12,000 
13.000 
£-200 
3-300 
2-700 
2-700 
3-000 
3-000 
3-300 
3-600 
2.900 
OTHER CLASSES. 
Lumber. | Amount. 
£m 
40,000 
33,000 
27,000 
27,000 
30,000 
32,000 
33,000 
34,000 - 
25 600 
6-000 
4-950 
4-050 
4-050 
4-500 
4-800 
4-950 
5-100 
5-340 
Total. 
£m. 
10-200 
8-250 
6-750 
8-750 
7-500 
7-800 
8-250 
8-700 
3.240 
interest and dividend payments for which the Commonwealth 
is liable overseas. 
The amount of interest payable on the public debt is calcu- 
lable almost to the proverbial penny, that on municipal loans 
somewhat less exactly, and only in the case of the ‘business’ 
loans are hypothetical estimates at all necessary. For the 
calculation of the interest payable on this latter class of loans 
resort had to be made to estimates of the approximate average