362 
its origin, itidid [^ last, but it did make the average price of sugar 
higher in 1896 than it is at present, and enabled some estates to 
show better eed for that year than they nd at existing 
prices. 
221. is usual in the West Indies, the public revenue is 
derived mainly from import duties and excise, and depends 
therefore = upon the welfare and the pu urchasing power of 
the wage-earning population. The reduction of wages has 
dseninished: thei ir purchasing power, : and the effect of this upon 
the revenue has been very marked. 
223. In 1895 and 1896 the rates "s taxation were largely 
increased, with the object of restoring the balance of the finances, 
and the revenue for 1896 rose accordingly, but there was neverthe- 
less a deficit of 6,988/. on the ee of that year, following 
one of 5,763/. in 1895. pus ount of the faut pate debt 
of the island is now w 405,1 pes the provision for interest and 
sinking funds in the eise itio for 1897 amounts to 19,125 
224. Our attention was directed both by the datorem. 
and the Colonial Secretary to the great excess in value of imports 
over exports. The figures for the last three years are as follows, 
including re-exports :— 
Year. Imports. Exports. 
£ & 
1894 1,279,334 984,511 
1895 956,921 587,298 
1896 1,048,886 158,227 
225. It was suggested to us that some of this excess is beiug 
paid for out of capital, and that the imports have been kept up by 
bu 
circumstances, such as publie expenditure in the island out of 
loans, military expenditure by the Imperial Government, remit- 
tances made by emigrants, and purchases made by crews or on 
behalf of shipping in the harbour. 
226. Unless some improvement in the sugar trade takes place, 
the revenue will continue to decrease, while a serious pero 
of the sugar industry, such as is probable, would ma it 
eid for the Government to pay for the siminmi of 
t ny. 
227. The state of things in Barbados and the outlook may be 
summed up by saying that there is but one industry upon which 
the population and the revenue are rect key agers that 
this industry is now without credit, and a considerable 
extent being carried on at a loss, while, for. ioni reasons, the 
distress caused | »y the failure of it will be exceptionally iden 
and there is practically no other industry E industries which ca 
be substituted for the production of su as to maintain tlie 
population and provide sufficient public aufert 
