BY R. M. JOHNSTON, I.S.O., F.S.S. 



29 



TABLE SHOWING THE COMPARATIVE PRE- 

 SENT CAPITAL VALUE OF EVERY £1 OF 

 THE ANNUAL INCOME AT DIFFERENT 

 PERIODS OF A SINGLE LIFE AND OF THE 

 AVERAGE ANNUAL INCOME OF A STATE 

 BREADWINNER RESPECTIVELY. 



Column (A) indicates the year. 



Column (B) indicates at each period the " Expectation 

 of Life in Years of the Single Individual Life." 



Column (C) indicates the relative increase of State 

 Breadwinners at each period owing to the natural 

 growth of population. 



Column (D) indicates the Present Capital Value of 

 every £1 of the fixed annual Income of a Single 

 Individual terminable at death. The Individual is 

 assumed to be of the age of 20 years at the year 

 1906. The present Capital Value gradually shrinks 

 with the increasing age of the Individual. 



Column (E) indicates the Present Capital Value of every 

 £1 of the annual Income of the average Taxpayer 

 of a progressive State. The life of the State Tax- 

 payer may be regarded as practically interminable, 

 and the Present Capital Value at each successive 

 period increases in accordance with the natural in- 

 crease of the population. 



