The Nineteenth Century , No 182, Apr 1892 [‎66v] (137/244)

622
THE NINETEENTH
April
connected therewith; and that, in this respect, her financial stability
is even more secure than that of the United Kingdom, which may still
be regarded as the richest country in Europe. It has also been shown
that her railways have not only accomplished the great end for which
they were introduced, but that, even restricting attention to the
advantages secured by cheaper modes of transit alone, Australasia, in
the year 1890, showed a clear balance of gain in her favour equal to
17,000,000^ for that year alone, after allowing for interest on debt,
and representing a clear capital gain of 425,000,000^. over and above
the whole of the 107,000,000^. of capital invested in railways. That
is, her gain in this respect alone represents at least the
amount of her present public debt. It has likewise been clearly
shown that Mr. Fortescue's reference to the increasing ratio of urban
population in Australasia has received a most false interpretation:
for, as a matter of fact, and notwithstanding the greater increase in
the ratio of urban population, the rural population of Australia has,
in the last decade, increased at a more rapid rate than the rural
population of any other great country whose history is known ; and
this statement also applies to her revenue. It has also been proved,
in so far as the rate of railway development exceeds the ratios of both
population and revenue, that this, in itself, is an index of increasing
wealth ; and, far from being a matter to be deplored, is a feature she
shares with all countries that have added to their prosperity by the
introduction of railways.
In marshalling the facts and figures bearing upon the several
matters touched upon, it will, I hope, be conceded that every care
has been taken to insure accuracy, and to avoid the snare of the
statistical enthusiast, who, for the sake of gaining a barren victory,
may be led to magnify or caricature his facts and figures by the
agency An office of the East India Company and, later, of the British Raj, headed by an agent. of ' exaggerated lights.'
K. M. Johnston,
Statistician