Full resolution (JPEG) - On this page / på denna sida - III. Constitution and Administration. Introd. by E. Hildebrand - 2. State Administration. By E. Söderberg - State Finances. By Eli F. Heckscher
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■2-20
III. CONSTITUTION AND ADMINISTRATION.
State’s electrical power stations (Trollhättan) has so far been taken into use, and
not even this is fully developed. The Grown demesnes comprise both forests
(under the direct charge of the State) and landed estates (generally leased
out): their relative yield is put at 5 %. As pure net profit may be regarded
the receipts from the State shares, i. e. the dividends in the State-owned
preference capital of the Luossavaara-Iviirunavaara Co.: thanks to the new contract
between the State and the iron-ore companies — made in 1913 in connection
with the increase in the export of iron-ore (see äst "Mining") — this amount
already (1915) exceeds three and three quarters of a million kr. and will rise
to 10 mill. kr. and will thus become one of the most important sources of
revenue in the group. In 1914 the Riksdag passed a law constituting a State
Monopoly on Tobacco, which is to be leased out to a private company, at least
one half of the capital of which will, however, be held by the State. This is
expected to bring into the Treasury 6 mill. kr. annually, and an increasing
amount by-and-by. On certain loan-funds the State has no surplus, but on the
contrary deficit, when the interest which the State pays on its capital has been
deducted (net yield without deduction of interest 3 % in 1913).
Owing to the fact that the Swedish financial year (which coincides
with the calendar 3’ear) does not begin until about seven months after
the passing of the Budget, it is more difficult in Sweden than in most
countries to avoid a surplus or a deficit in the public accounts. As a rule,
the revenue estimates have so far been kept so low that it has been usual
to have a surplus: for the years 1882—1913 the total surplus, after
deducting deficits, has amounted to no less than nearly 340 millions of
kronor. In conned ion with the Budget Reform steps have been taken
to prevent a realized surplus from being treated as revenue available, as
has hitherto been the case, for the Budget of the following year. The
surplus, therefore, is now carried to a special Exchequer Cash Reserve
(Statsverkets Kassafond), which is always to be maintained at a
sufficiently high level to cover any deficit that may arise: not until this reserve
is sufficiently large shall the surplus be used towards paying off the
•National Debt, to augment the "Productive Funds of the State" or for other
ordinary Budget purposes.
Finally, to pass from the Revenue and the Expenditure of the State to
its Assets and Liabilities, it must first of all be observed that the
National Debt of Sweden, despite a very considerable increase during the
last decade, is still, in proportion to the population, one of the smallest in
Europe.
Funded Debt (in round figures):
Absolute Amount Per Head
At the end of 1880 ....................’230 356 000 kr. 50-45 kr.
. * % » 1890 ....................259 513 000 » 54’23 .
> » 1900 ....................337 899 000 » 65-78 »
. • 1910 ....................537 426 000 > 95-90 »
- ■ » > 1913 ....................622 561000 > 110-41 >
With these figures may be compared the figures relating to the
National Debt per inhabitant in a few other countries: Denmark (1914),
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