These amounts represent the gross debts without any reduction from the substantial revenue produ-icing assets owned by the States, which were constructed with the loan moneys raised. This was shown by the fact that the net revenue produced in Australia from the numerous sources of State under-[takings was £17,580,958 which is not quite three per cent. of the total debt incurred. The State sinking funds total £18,273,418, and in most the States these funds have been increased. On all loans raised the Commonwealth for the States a 10 per cent. sinking fund payment is made by the States. Omitting debts which are included in the Commonwealth and the State debts, the gross total indebtedness of the Commonwealth to June 30, 1924, is £967,167,079 from this is'deducted sums held in cash by the Commonwealth in the form of sinking funds and moneys to be paid in cash in respect of certain assets. These total £81,035,071, The aggregate debt per head in Australia in regard to the population is now £165, Papua and its Prospects Sir Hubert Murray's report for 1023-24 on the Territory of Papua is that of a man apparently faced with unsurmountable difficulties who finds consolation in the fact that things may not be so bad as they seem to be. 'The report con-eludes with a comprehensive desription of things in general, and an optimistic viewpoint of po: ties in the future. He that the Christain' natives to have larger families non-Christian, but he has sufficient evidence yet to make a definite statement, He alludes to cotton growing to the extent of 800 across, Land states that if successful it would [de the nucleus to a very valuable Vindustey. A seam of coal 45 yards wide has been discovered at Smokey Creek, The trade of the Territory Increased by nearly £100,000 yet the Governor is despondent and con-eludes his report with: "It cannot be said that the service in Papua is overmanned. Salaries are certainly not excessive. Possibly the success: of the cotton industry, the discovery or the suspension of tion Act may come to Let us hope such will
Text read from the printed page and cleaned; old type leaves the occasional error.