CHAPTER II. THE GROWTH OF AUSTRALIAN WEALTH. 1. General. The probate returns afford the only practical means of measuring the growth of wealth in Australia. The principle of determining the aggregate of private wealth from such returns was indicated in the early part of this article. It was concluded after exhaustive examination that the wealth as deduced from probates should be multiplied by the factor 1.60016, and after so doing the results hereinafter given were obtained. In this connection it should be mentioned that the increasing length of the expectation of life has been fully taken into account. 2. Growth of Wealth according to Probate Returns. It was possible to carry these back as far as 1878, the result being as shown in the following table: XXIV. Estimate of the Growth of Private Wealth in Australia from 1878 to 1915. These results show that the growth of private wealth increased almost at a uniform rate of about 45 millions sterling per annum from, say, 1879 to 1889. This came to a standstill in 1891, and the private wealth then actually decreased till 1894. This was a period of financial stress. From 1894 there was again increase, which from 1895 to 1900 averaged somewhat less than 19 millions sterling per annum. An increase at a continually accelerating rate followed, till about 1909, the total from、 1908 to 1909 being about £93,000,000. Subsequently the rate of increase declined, the average for the quinquennium 1919-1915 being somewhat over 62% millions per annum, and only 47 millions sterling in 1914-1915. These variations in the rate of growth of wealth and the comparison with the growth of population are best seen by means of a graph such as that hereunder. INDEX Absent Vote, 86 Application of Wages Prin- 1915 Census, 491-504; Par- and English Australian Civilization, Stan- Barker, Mrs. F., 300 Botha, General, 381 Brisbane, Governor, 360 Autho- Federal Caldwell, Mr., 274 Carsten's Explorations, 305 Joseph, 384 Rt. Hon. Chapman, Mrs., 266 Children and the Women's Movement, 292 China, 466 Chisholme, Mrs. Caroline, Circle, The Pernicious, 208, Clark, Miss Caroline Emily, Class Consciousness, 138 Climatic Factor in Settle- |