that the maximum commercial intercourse will follow. Given the
maximum possible power of absorbing population in Australia her
determination to remain the most British community in the world
is sufficiently strong to secure that it will be from Great Britain
that the flow of immigration will come. But if the desired conditions
of Australian prosperity and power to absorb population
are not present, artificial means of promoting trade with and
migration from Great Britain must fail. We have no shortsighted
idea of attempting to induce Australia to carry on more trade or to
take more migrants from Great Britain at the cost of lasting
economic sacrifice on her part. We believe that any such effort
would be bound to defeat itself. We have, therefore, to consider
whether there are any modifications of Australia’s financial and
economic- practice, which, if adopted, might, by enhancing her
own prosperity, conduce to the realization of the objects envisaged
bv our terms of reference.
PART II.
MAIN PROBLEMS.
7. We turn first to Australian finance. Of this subject possibly
the best general conspectus can be obtained by considering the
extent of the combined Commonwealth and State budgets for a
period of years. By this means it is possible to visualize the
relation of Australia’s borrowing to her ordinary year to year
revenue and expenditure. We therefore give in the following
tables the revenue, expenditure, surpluses and deficits of Australia
during the last six years, shown as a total, and per head of population.
From these it appears that during that period Australia
balanced her budget to within 0.73 per cent., and that the average
annual deficit per head of population was 4s.
Finance,
revenue, anc
expenditure.
CONSOLIDATED REVENUE AND EXPENDITURE THEREFROM.
COMMONWEALTH AND STATES COMBINED.
I. Amount.
Year ended 30th June.
1921-22
1922-23
1923-24
1924-25
(925-26
1998-97
ose BY ooo
es ae “ne
aes ave sae
arn ses are
are oe ee
Total for six years
Revenue
1 000.000.
143.0
45.7
151.8
60.3
166.1
(RO BH
Q47 A
Expenditure,
£1.000.000.
145.6
144.8
154.5
160.2
170.8
78 8
| O54 R
Surplus, | Deficit,
£1.000.000. £1.000 000
2.6
2.7
;
5 0
70
14Q9
