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364 ECONOMIC INQUIRIES AND STUDP;S
quantities and relative proportions, as well as qualita-
tive considerations only, require to be taken into
account.
If I were to make the statement, then, that the aggre-
gate of the individual incomes of the people of the
United Kingdom is at the present moment somewhere
about I,750 million £, and that the aggregate wealth
of the people expressed in a capitalised form may be
put at about 15,000 million '£ in round figures, if not
more, I do not apprehend that there would be much
real dispute. The figure as to income is not a great
enhancement of the total arrived at by Mr. Bowley in
1895 fot the year 189 I, and it is very little in excess of
the rule of thumb method of stating the aggregate in-
come of the people which has been followed since
Dudley Baxter's investigations in 1868, viz.: twice the
gross assessment to the income tax, amounting for
1901-02 to 867 million £. The figure as to capital
again allows for an addition of 50 per cent. to the total
of 10,000 million £ at which I arrived for the year
1885 in my investigations on the growth of capital,l
since which time there has been an increase of about
that amount in the gross assessments to the income
tax, which are the principal basis of the calculations as
to capital.
But when we come to deal with the rest of the empire
there is no such familiarity with data for estimating the
income and capital of its various component parts. I
believe, however, that if we make calculations as to
the aggregate income of the main portions of the em-
pire, based on known data as to production and check-
ing them by data as to imports and exports, yield of
revenue and the like as well as by comparison with
the figures for the United Kingdom, using also official
figures for Australasia, we may arrive at figures which
can be provisionally accepted for the purpose o~ the
present discussion. Canada I should put at 270 million
£ sterling in round figures, equal to about £48 per
1 See "The Growth of Capital" George Bell and Sons, 1889.