THE QUEENSLAND STATE DEBT.
The people of Queensland are piling up their State debt at a rate which proves them to be exceedingly sanguine, and they have attained a pre-eminence in this doubtful career second only to this colony. In 1861, with a population of about 35,000, their debt was only £70,000, or £2 per head. In 1871 the population’ had grown to 125,000, 'and the debt to £4,000,000, or above £32 per head. In 1880, with about 225,000 people the debt amounted to £12,000,000, or £54 per head. Most of this money has been obtained from England at about per cent, so that, including English investment in Queensland. Banks and land companies, the colony has to' remit above £600,000 a year in the shape of dividends and interest. The revenue proper is about £1,000,000 and about £500,000 more is derived from land sales.
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Bibliographic details
Patea Mail, 28 June 1881, Page 3
Word Count
144THE QUEENSLAND STATE DEBT. Patea Mail, 28 June 1881, Page 3
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