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A FINANCIAL RETROSPECT, 1861-19°1 307
war had also ceased to leave its mark, or nearly so, by
186r. What we have to observe then is the develop-
ment <\ctually taken by our finance under a Free Trade
rlgtine all through, and in general circumstances of
great material prosperity.
The tables which have been prepared, it will be
found, are extremely simple in form. Nothing more
has been done than to put together, from the Statisti-
cal Abstract mainly, the figures of actual revenue and
expenditure and other financial data for a particular
year, at intervals of ten years, since the beginning of
the period, adding in some cases the estimate for
1901-02, so as to make the comparison more up to
date. In a more elaborate study the figures for each
year should have been inserted, and averages for groups
of years stated; but the present arrangement is simpler
and less confusing, while if error arises occasionally, in
consequence of the single year in some cases not corre-
sponding with the average at the period to which it
belongs, a reference to the very familiar Statistical Abs-
tract can easily be made. But no great error, I believe.
arises in this way. although in one case. 1871, the figure
of expenditure is rather understated, the total being
lower than it would have been if any other one of
several years before and after had been selected. The
changes. however. between the earlier and the later
years are so great that not much turns on the excess
or diminution of any particular year compared with the
average. In addition to the financial tables proper.
supplementary tables are added for convenience of re-
ference. dealing with the factors of population, produc-
tion and consumption. which are obviously matters re-
quiring consideration in any study of financial questions.
I t is not proposed, however, to give a formal account
of these tables as is done for the financial tables them-
selves.