AUSTRALIA'S EXTRAORDINARY WEALTH.

Taranaki Daily News, Volume L, Issue 61, 28 November 1907, Page 3

AUSTRALIA'S EXTRAORDINARY WEALTH.

Mr. George ti. Mcudcll, writing in the London "i 1 iiiaucial limes" on .Australia s-prosperity, says; —"The best JCten ui liie c.waoiuiuury wealth of Australia can be gathered lroni a lew statistical labloius. lioughly, there are 4,000,1)1)1} Australians—i,ouu,udO uii'ii, 1,000,000 women, and :2,00U,0UU children. This i iniiuon ul males have 110 millions sterling in their banks, do a total trade in ; imports and exports of 114 millions yearly, jnocluee wool worth 21 millions, wheat ten millions, goid lo millions, ana metals and eoal iz millions." Combining the .New Zealand figures with those 01 the Commonwealth, leading statisticians ot Australia, including Air. K. L. Jwish, thiaiuial editor of me Sydney "Daiiy .telegraph," estimate the gross ;......... t of paid-up captal in tioverument debts, loans, shares in banks, insurance, gas, shipping, trading, and mining compauies at 000 millions sterling, ou which dividends are paid amounting to 25 millions annually, i'or a population of live millions, half children, this record id uuparallelled in history," says Mr. ( Meudell. "Tlie position is all the stronger because tlie losses in sheep and cattle during 101)2-3 cost Australia over KIO millions sterling. The fact is guaranteed by the Hon. William Knock, ill'. (President of the Melbourne Chamber of Commerce), who is likely to be the next federal Treasurer. One gratifying feature of Australian linanee is the substitution of Australian capital for British. Ui live years Britisii capital has been withdrawn from Australia to the extent of 14 millions, while Australian capital lias been invested to the amount of 28 millions. This movement for supplanting British capital is being employed in London at short dates to the amount of 20 millions." In conclusion, tlie writer remarks that even ilr. Winston Churchill, with his puny phillipics against the British Australians, cannot bang, bar, and holt the door against the ingress of money from Australia.