INDEBTEDNESS FROM 1900 TO 1913 159
and out of Australia which are not included in the tables already
set out. The most important of these concerns the transfer of
capital and effects consequent upon migration. These transactions
 are of a one-sided character; and, while they do not
involve payments in the usual trade sense, they do have an
appreciable effect upon the balance of indebtedness and must
be included in the final reckoning. Goods and capital arriving
with immigrants increase the credit total to that extent;
Tare XXXVII
Net Migration and Related Capital Movements

Year.

1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
1012 .
1918 |

Emigrants.

4293
9876
2983
2600
2040

Capital loss.
; £m.

0-0859
0-198
0-059
0-052
So

Immigrants.

2 059

5,195
5,437
21,783
29,912
74-379
91,803
63.227

Capital gain.
£m.

0-059

0-104
0-109
0-436
0-698
1-488
1-838
1-266

emigrants’ effects and capital correspondingly swell the debit
total. The evaluation of these items, however, is a matter of
considerable difficulty, and anything like accurate computation
is out of the question. Nevertheless, sufficient is known of the
circumstances attendant upon migration movements to Australia
to enable a rough estimate to be made. There is no compulsory
declaration of capital by immigrants entering Australia; and
the scanty records of government departments, eked out by the
impressions of migration and welfare officers, are the chief basis
for the calculation. The estimate has been compared with the
corresponding estimates by investigators of this aspect in
Canada, the United States, and New Zealand ; and it is claimed
that the sums mentioned are, at least, not excessive. Having
regard to the number of children included in the total immigra-*
 Commonwealth Bureau of Census and Statistics, Commonwealth Demography.
1913 and Previous Years, Bulletin No. 31.