IMPERIAL INSTITUTE JOURNAL. 
[September, 1902.] 
Vol. VIII. No. 93. 
" D D 
year. The imports arriving via. Natal accounted for? ;£i, 825, 420, those via 
the Cape for ^2,017,989, and those via Delagoa Bay to ^374,289. The 
gold yield of the Witwatersrand mines which have restarted working amounted 
in July to 149,179 oz, of fme gold; in June the amount was 142.780 oz. 
In Rhodesia the output showed little change, though at 15,226 oz. it was less 
both than in July of last year (15,651 oz.)and in June last (15,841 oz.). The 
yield in Victoria was 97,183 oz. in July, showing the large increase of 21,492 
oz. over the yield for the same month of 1901. In New South Wales, the 
yield was 34,136 oz. as against 33,018 oz. in the preceding July. In West 
Australia 174,494 oz. of gold were obtained from 167,617 tons of ore : in 
July of last year, 138,620 tons of ore yielded 161,235 oz - °f gold. New 
Zealand produced 47,051 oz., against 31,365 oz. in the same month of last 
year. In British Columbia, according to a report just issued, the mineral 
production for 1901 reached the value of ^4, 01 7,400, against ^3,268,000 in 
1900, and ^2, 478, 600 in 1899. Though in 1901 the gold-placer yield fell 
off by over ^60,000, the lode output increased from ^690,676 to ^869,72 1. 
Silver was better by £1 1 5,000 and copper by ^566,000, but lead was reduced 
in value to the extent of ^138,000. The output of coal amounted to 
1,691,537 tons, the largest recorded, and its value, together with that of the 
coke for which part of it was used, exceeded that of the previous year by 
^54»ooo. 
The following table shows the variations which have occurred in the 
securities of certain Colonial Governments during the last three months : — 
30th June. 
29th July, 
28 th Aug. 
Canada 3 per cent. 
102 — 1 0 2 -iV 
102J-103J 
102 J-103 
Cape 3 per cent. 
97b 97 i 
94 i- 94 f 
94b 94 f 
Natal 3 per cent. 
97 “ 97 l 
95b 97 
9&b 971 
New S. Wales 3 per cent. . 
95 i- 95 l 
94b 94 j 
94 i- 94 'f 
New Zealand 3 per cent. 
96 - 96J 
96 - 96! 
96 i- 96 f 
Queensland, 3 per cent. 
94b 95 
93 94 
93 i~ 93 -f 
South Australia 3 per cent. . 
95b 95 t 
94 b 94 f 
93 f“ 94l 
Tasmania 3^ per cent. 
103I-104I 
103^-104 
103J-104I 
Victoria 3 per cent. 
97 i — 97 f 
94b 954 
94 i- 95 
West Australia 3 per cent. 
(May-Nov.) 
94 f- 95 i 
94 - 95 
93 i“ 94 ^ 
India. — The subjoined table shows the fluctuations which have occurred 
in the prices of certain Indian railways during the last three months 
Bengal and North Western 
Bengal-Nagpur Gua. 4 per cent. 
Bombay, Baroda & Cent. India 
Indian Midland 4 per cent. 
Madras Grntd. 5 per cent. 
South Indian 4^ per cent. Deb. 
Southern Mahratta 3^ per cent. 
30th June. 
30th July. 
29 th Aug. 
129-133 
128-132 
128-132 
105-109 
105-109 
102-106 
158-162 
154-158 
150-155 
104-108* 
105-109 
103-107 
137-141 
1 34-139 
I 33—137 
137-141 
I 37 -I 4 I 
i 37 " I 4 i 
105-10S* 
1 04-107 
103-106 
* Ex. 
div. 
Foreign Countries. — In the first half of this year the imports into 
Argentina amounted to $51,243,230 gold, against $56,619,775 gold in the 
same period of 1901. The exports were $105,203,721 gold, against 
$97,776,764 gold in 1901. Ten years ago the imports were about $20,000,000 
less, and the exports about $30,000,000 less, so that it would appear that 
Argentina’s troubles spring not so much from lack of development of material 
resources, as from bad government. 
The United States in the first six months of this year produced no less 
than 8,808,574 gross tons of pig iron ; in the first half of last year the amount 
was 7,674,613 tons, and in the second half 8,203,741 tons. The American 
production for the first six months of this year is, therefore, already well ahead 
of either that of Great Britain or Germany for the whole of last year, when 
the production in the former country was 7,761,830 gross tons, and in the 
latter 7,736,663 tons. In Germany the exports of iron seem growing 
rapidly. In the first half of this year they amounted to 1,503,742 tons, 
whereas in the same period of 1901 they were 994,404 tons, and only 
744,224 tons in 1900. On the other hand the imports are falling off ; 
amounting to 502,150 tons in the first six months of 1900, they were only 
233,690 tons last year, and 132,610 tons this year. Germany’s net exports 
of iron this year were, therefore, 1,371,132 tons ; two years ago they were only 
242,074 tons. Of these exports nearly one-fourth appear to have come to 
Great Britain, but the United States took 75,75s tons, against only 3,947 tons 
in 1901, including 22,906 tons of rails against 41 tons. The quantities sent 
to Austria and Russia, however, declined. 
Our usual table of exchanges follows : — 
28th June. 
29th July. 
28 th Aug 
Paris, cheques . 
25b 17c. 
25k 16c. 
25k 1 8c. 
Berlin, sight 
20m. 46ipf. 
20 m. 48pf. 
20m. 48|pJ 
Vienna, sight 
24kr. ih. 
23kr. 96^11. 
23kr. 96|h 
Amsterdam, sight 
120. 14J 
1 2 fl. I2 -| 
I2fl. 12 2 
Madrid, sight 
34 ps. 40 
34 ps. 40 
34 ps. 46 
Lisbon, sight 
42 |d. 
4ifd, 
4 'i 
St. Petersburg, 3 months 
94D 10 
94r, 10 
94 r * r 5 
Bombay, T.T, 
IS * 3 irfd- 
is. 3-J|d. 
is. 3 tfd. 
Calcutta, T.T. 
is. 3jfd. 
is. 3-Jfd. 
is. 3-Jfd. 
Hong Kong, T.T. 
is. Stjd. 
is. 8§d. 
IS. Sfjyd. 
Shanghai, T.T. . 
2s. 3fd. 
2s. 3fd. 
2s. 4d. 
3G/I2-3 
AGRICULTURAL RETROSPECT. 
United Kingdom. — Harvest work proceeded slowly during August, 
the cutting of the crops being interrupted by frequent and heavy falls of rain. 
Rye, winter oats, and winter barley were the only crops harvested by the 
second week. Wheat cutting was in progress generally by August 11, though 
in the earlier localities a start had been made a week previously. Frequent 
drenching rains in many parts rendered all corn unfit to be touched for some 
time after they ceased, so that farmers have experienced many vexatious 
delays. Pastures continue in good growing condition and the grazing out- 
look is reassuring. Root and other forage crops are looking well, and there 
is such a wealth of leaf upon the mangel, that nothing but bright sunshine is 
needed for the crop to develop into perhaps the largest ever grown. The 
Agricultural Gazette summarizes the harvest reports which it has been 
publishing for the last four or five weeks from all parts of the country. For 
the several corn crops the majority of the verdicts are either “ over average 
or “average.” Wheat is not so commonly put over average as barley or oats, 
and of the two latter one is deemed the better crop in some districts and the 
other elsewhere. Before the recent storms came barley appeared to be the 
corn crop of the season ; but a great many reports now state that it is badly 
laid. Other cereals are laid also in some districts, but not generally so badly 
as barley. Accounts are about as favourable for beans and peas as for the 
white-straw crops, except for the mention of aphis attack in many cases, in 
spite of which they appear to be well up to average or above it in the great 
majority of districts. Hay is the crop of the season in England and Wales. 
Only two or three reports put the yield under average, while the great 
majority describe it as more or less over the standard, many saying 20 per 
cent, over, and others speaking of it as a bumper crop, the best for years, or 
in otherwise flattering terms. The greater part of it appears to have been 
well saved ; but there are many complaints of damage from rain. Just as 
there is no doubt as to hay being the best crop of the season, so there need 
be no hesitation in declaring potatoes to be the least satisfactory. Estimates 
of this crop are more conflicting than those of any others, and there are more 
under-average verdicts, while references to the prevalence of disease are 
numerous. 
Colonies. — Twenty thousand men and boys have arrived in Manitoba 
to assist in the harvesting of the magnificent crops. The yield of wheat is 
expected to be 60,000,000 bushels, and a return of over 40,000,000 bushels 
of other grain is estimated. From Ontario it is reported that there will 
be a good crop of apples in that province, as well as a plentiful yield of 
peaches, pears and plums. The grain crop of the province this year 
promises to be a full one. The latest telegrams from New South Wales 
report that rain has set in over the north, the north-west, and portions of the 
western pastoral country. There has also been light rainfall in portions of 
Queensland. 
An important Blue Book (Cd. 1,163) was issued at the end of July 
by the Colonial Office, dealing with the whole subject of the re-settlement of 
South Africa. Incorporated in the volume is a highly interesting and 
informing report on irrigation in South Africa by Mr. Willcocks, the well- 
known Nile expert, a resume of which appeared in the Imperial Institute 
Journal for March last (p. 66, Agricultural Retrospect). Perhaps the 
most important despatch in the volume is that of Lord Milner dealing 
with the introduction of new settlers. On January 20, 1902, he writes : — 
“ As a consequence of the war the agricultural population will be even 
more inadequate than it formerly was, and in order to do anything like 
justice to the land a new and progressive farming population is required to 
reinforce the old. It is also most essential, from the social and political 
point of view, that the old condition of things should not be reproduced, 
in which the race division coincided almost completely with a division of 
interests, the whole country population being virtually Boer, while the bulk 
of the industrial and commercial population was British. But the intro- 
duction of British settlers, under which term I include colonists from 
Australia, New Zealand, and Canada, and from Cape Colony and Natal, 
as well as from the Mother-country, is beset with very exceptional 
difficulties. There is not, I think, any lack of suitable settlers. The number 
of those who are anxious to come is, as far as I can judge, quite as large 
as we can possibly provide for.' Returning to the same subject on 
January 25, he deals with it at great length. The following are a few 
extracts from the despatch : Land settlement must be undertaken on a 
large scale ; otherwise, however useful, it will be politically unimportant. 
Moreover, it is essential that, as Mr. Arnold Forster’s Commission insisted, 
only the best quality of land should be secured for the settlement, at any 
rate in the first stages of the movement, and that the conditions should 
be such as to attract the best quality of settler. At the same time the 
scheme must be in its details sufficiently elastic to meet the requirements of 
different classes, men of some capital, as well as men who bring with them 
little more than experience and character, and to vary with the varying 
character of the farms. Take only the broad distinction between dry and 
irrigated farms, familiar to every South African. Evidently a much larger 
area is required in the former than in the latter, while the experience 
needed by the farmer would vary greatly in the two cases. In the former he 
would be mainly employed in stock-rearing, while in the latter the cultivation 
of cereals, and, in favourable neighbourhoods, market-gardening, would 
be the most profitable industry. Australian ranchers seem peculiarly suited 
to the high veldt, while the corn lands of the conquered territory could 
have no better occupants than young progressive farmers from the Scottish 
lowlands. And there are intermediate types of farms suited to settlers 
