3 L 
B 
be given in the report of the Registrar-General, but I am 
informed that it is taken by Life Assurance Societies at from 
1 in 45 to 1 in 50. If we assume an age of 50 years, and a 
Death Rate of 1 in 50, we are probably taking considerably 
too high a factor wherewith to multiply the value of the 
Deceased Estates, and so obtain the presumptive total capital 
w r ealth of the Living. To be accurate, we should subtract 1 
from our multiplier, otherwise we are reckoning a unit of 
wealth twice over, for the wealth of the Dead becomes at 
death the wealth of the Living. Multiplying the figures given 
in the preceding table by 50, we arrive at the following as the 
total wealth of the Living in 1914-15 :— 
Million. Percentage. 
Stocks, Funds, Shares, etc. £6,650 ... 39 
Cash 1,000 ... 6 
Money Lent, Mortgage, etc. 1,000 ... 6 
Trade Assets 850 ... 5 
Insurance Policies 600 ... 3J 
Household Goods 400 ... 2J 
Agricultural Land 1,300 ... 
House Property 2,800 ... 16J 
Ground Rents 200 ... 1| 
Other Property 2,200 ... 12£ 
£17,000,000,000 99f 
From this Gross Total of £17,000,000,000 we must deduct, 
if John Stuart Mill’s principle holds good, the Assets such as 
holdings of National Debt, Mortgages, Debentures, etc., etc., 
which though wealth to the individual are not wealth to the 
Nation. When this has been done we .shall arrive at what we 
will term the Effective Capital Wealth of the Nation as 
opposed to the gross total of Individual Capital.