In addition to an initial endowment by the state, part of the annual income of the fund is furnished in various forms by the state (principally by making over a proportion of the profits of the Post Office Savings Bank), and part by the premiums of the workmen.
This sum consists of 4,240,000 of naval expenditure proper, 220,000 for naval pensions and 380,000 for premiums upon mercantile shipbuilding.
During the same period the assumption of the Venetian and Roman debts, losses on the issue of loans and the accumulation of annual deficits, had caused public indebtedness to rise from 92,000,000 to 328,000,000, no less than f 100,000,000 of the latter sum having been sacrificed in premiums and commissions to bankers and underwriters of loans.
These institutions were the means of collecting a vast amount of statistical and general information connected with agriculture, and by their publications and premiums made known the practices of the best-farmed districts and encouraged their adoption elsewhere.
Through the commission the, money previously spent upon Queen's Plates is offered in the form of " King's Premiums " (to the number of twenty-eight in 1907) of L1 so each for thoroughbred stallions, on condition that each stallion winning a premium shall serve not less than fifty half-bred mares, if required.
