422
SWEDEN.
Expenditure
1869
1870
Riksdaler
Riksdaler
Royal household
1,417,000
1,417,000
Justice .....
2,354,100
2,495,700
Foreign affairs
457,950
607,000
Army .....
9.528,000
9,568,400
Navy
3,963,800
4.223,800
Interior .....
8,086,500
7,716,400
Finance .....
6,359,200
6,631,500
Church and public instruction .
4,714,700
4,741,500
Pensions ....
1,321,379
1,391,050
38.202,629
38,792,350
Extraordinary expenditure for public works 5,496,371 Total / I 43,699,000"
6.176.900
41,969,250 1
I
£2,427,722
£2,496,625 i
There is generally an excess of actual revenue over expenditure in the financial accounts of the kingdom, though there have been deficits in recent years, arising chiefly froru increased expenditure connected with the construction of a network of railways, at the cost of the State. For these works the Diet voted about 100 millions riksdaler during the sixteen years from 1855 to the end of 1870.
Through the efforts of King Carl XIV. — formerly General Berna- dotte — the whole public debt of Sweden was liquidated during the years 1819 to 1840. Subsequent events, however, brought about the creation of a new debt, the proceeds of which were in great part devoted to the establishment of a system of railways by the State. At the end of 1870, the public liabilities of the kingdom were as follows, according to official reports: —
Loan of 1855, at 3i and 4 per cent. Railway loan of 1858, at 4^ per cent. Railway loan of 1860, at 4£ per cent. Loan of 1861, at 4^ per cent. Railway loan of 1864, at 4£ per cent. Railway loan of 1866, at 5 per cent. Railway loan of 1867, at 5 per cent. Railway loan of 1868, at 5 per cent. Loan of 1870, at 5 per cent.
Total
Riksdaler. 225,300
19,202.667 23,630,574 . 2,759,500
9,665.320 26,339,733
6,000,000 21.325,141 40,000,000
149,148,235 £8,263,791
The railway loans of 1864 and 186*8 were negotiated in England, the former at the rate of 92 and the latter at '.Ml, All the loans are paid ofFgiadually by means of a sinking fund.
