FINANCE — PRODUCTION AND INDUSTRY
1005
Finance.
The following table shows the ordinary revenue and expenditure for the last 6 years, exclusive of advances made and refunded, and deposits made and Avithdrawn : —
Revenue . Expenditure
1892
£ 1,255,829 1,188,765
1893
1894
1895
1,702,684 1,302,054
£ £
2,247,728 3,539,955 1,734,728 2,079,095
1896
£ 4,807,513 4,671,393
1897
£ 4,480,218 4,394,066
In 1897 the chief sources of revenue were: imi)ort duties, 1,276,319Z. ; Netherlands railway, 737,366?. ; prospecting licences, 427,230?. ; explosives, 300,000?. ; stamps," 258,396?. ; posts and telegraphs, 215,320?. The chief hranches of exi)enditure were public works, 1,012,866?. ; salaries, 996,960?. ; war department, 396,384?. ; purchase of explosives, 271,435?, Of the Mining Commissions department, Johannesburg, the receipts in 1897 amounted to 896,044?., and expenditure to 101,369?. ; credit balance, 794,675?.
The public debt on Septcm])er 9, 1897, was 2,673,690?., including direct lia])ilities to the British Crown 146,690?., and Rothschild loan, 2,500,000?. The State lands were valued in 1884 at 400,000?., but may now be valued at some millions, as the goldficlds at Barberton are on Government lands. The debt due to Great Britain bears interest at 3^ per cent., and is to be extinguished by a sinking fund of 3?. Os. ^d. per cent, in twenty-five years.
Defence.
The Republic has no standing army, with the exception of a small force of horse artillery of 32 officers, 79 non-commissioned officers, and 289 men, all able-bodied citizens being called out in case of war. There are 3 foot and 6 mounted volunteer corps, numbering about 2,000 men, subsidised by Government. The number of men liable to service iu 1894 was \ 26,299.
Production and Industry.
The South African Republic is specially favourable for agriculture as well as stock-rearing, though its capacities in this respect are not yet developed. It is estimated that 50,000 acres arc under cultivation. The agricul- tural produce, however, is not sufficient for the wants of the population. There are about 12,245 farms, of which 3,636 belong to Government, 1,612 to outside owners and companies, and the rest to resident owners and companies.
Gold-mining is carried on to a great extent in the various goldtields, principally Barberton and AVitwatersrand.
The total value of gold production from the year 1884 has been : —
Year
1884
1885 .
1886
1887
1888 .
1889
1890 .
1891 .
£
Year
£
10,096
1892 .
. 4,541,071
6,010
1893 .
. 5,480,498
34,710
1894
. 7,667,152
169,401
1895 .
. 8,569,555
967,416
1896 .
. 8,603,821
1,490,568
1897 .
. 11,476,260
1,869,645
2,924,305
Total .
. 53,810,508
