Ty 
Sources of Revenue: 
1876 1895 19065 1915 1924 1928 
.000 kr. 1000 kr. 1000 kr. 1000 kr 1000 kr. 1000 kr. 
113 176 278 2 302 3101 
435 781 1776 5745 7 655 
29 69 445 1784 2217 
888 905 
Taxes . . . , 
Customs . . . . ., . . 
Post, telegraphs, telephones 
Monopolies . . . . . . 
Annual contribution from 
Denmark . . . . , 60 60 » 
Other sources . . . . 148 270 429 378 
Total 311 734 1234 2829 11 148 14 256 
Expenditure: 
Administration and Althingi 
Public health . . . . . 
Post, telegraphs, telephones 
Other communications , . 
Church and education ., . 
Science, literature, and art 
Industrial affairs . . , . 
Social affairs . . . . . 
Pensions and allowances . 
Interest on, and repayment 
of, National debt . . 
Miscellaneous . 
“27 
67 
280 
aE 
23 
49 
]N 
i 
nr 
5Y; 
02 
3 
a 
1222 
662 
2 297 
858 
I 370 
243 
667 
492 
147% 
1 805 
968 
1967 
1794 
1635 
205 
1475 
1087 
185 
yr 
4 
“ag 
24 
164 
i7 
42 
n 
ie 
21 
23 2207 1436 
510 342 620 
Total 202 543 1110 2704 9503 13 177 
Surplus 109 191 124 125 1 645 1079 
After Iceland had obtained financial independence, the budget was 
for a long number of years cautiously prepared, always leaving a little 
surplus, which gradually accumulated into a handsome Reserve Fund; 
and as the government never engaged in any public undertakings of 
an expensive nature, State loans were unknown in Iceland up to 1908. 
But during the latler part of this period the State has engaged in 
various important undertakings, and revenue and expenditure have conse- 
quently increased by leaps and bounds. In 1928 the revenue mounted 
up to some 14 million krénur, whereas in 1876 it did not much ex- 
ceed 300 thousand, almost one-third of which was contributed by the 
Danish treasury. — The price-level has, indeed, risen considerably 
during this period, and more especially during the Great War and the 
years next following, though not nearly to the same extent as both 
revenue and expenditure, which from 1876 to 1928 have increased 
46-fold and almost 65-fold respectively, while the price-level has in- 
creased but three- or four-fold at most,