════════════════════════╤═══════════╤═══════════╤════════════╤══════════ Name of State │ Years. │ Receipts.│Expenditure.│ Deficits. or Territory. │ │ │ │ ────────────────────────┼───────────┼───────────┼────────────┼────────── │ │ £ │ £ │ £ {│ 1891 │ 182,197│ 182,197│ — {│ 1892 │ 192,035│ 189,279│ — {│ 1893 │ 266,580│ 217,627│ — {│ 1894 │ 310,181│ 295,342│ — {│ 1895 │ 324,650│ 294,837│ — Congo State {│ 1896 │ 414,396│ 329,452│ — {│ 1897 │ 374,770│ 405,675│ 30,905 {│ 1898 │ 590,602│ 690,079│ 99,477 _The first year_ } {│(estimated)│} 798,660│ 786,918│ — _of the railway._ } {│ 1899 │} │ │ │───────────│───────────│────────────│─────────── British East Africa │ 1897 │ 32,670│ 134,346│ 101,676 German East Africa │ 1897 │ 218,495│ 298,260│ 79,765 German Cameroons │ 1897 │ 58,328│ 69,170│ 10,842 ════════════════════════╧═══════════╧═══════════╧════════════╧══════════ The Uganda Protectorate, having been established but lately, would naturally present a still more unsatisfactory balance sheet than any of the four territories above mentioned, but it is not derogatory to either British or German Africa that their deficits are so large, for the Congo, during the state of undevelopment, had absolutely no receipts at all, except King Leopold’s subsidy, to meet the expenditure. There is no necessity to labour this matter, but I think it is sufficiently proved that my honourable friend has been mistaken in his views about the financial condition of the Congo State. As a fitting conclusion to this preface, I here append a table which will exhibit at a glance the advance of Equatorial Africa during the last twenty years.