The increase in the tonnage of sailing vessels, which in other countries tends to decline, was due to the bounties voted by parliament to its merchant sailing fleet with the view of increasing the number of skilled seamen.
Shipping has been fostered by paying bounties for vessels constructed in France and sailing under the French flag, and by reserving the coasting trade, traffic between France and Algeria, &c., to French vessels.
The more important subjects with which it deals are trade, shipping and railways; taxation, bounties, the borrowing of money on the credit of the Commonwealth; the postal and telegraphic services; defence, census and statistics; currency, coinage, banking, bankruptcy; weights and measures; copyright, patents and trade marks; marriage and divorce; immigration and emigration; conciliation and arbitration in industrial disputes.
Within two years uniform customs duties were to be imposed; thereafter the parliament of the Commonwealth had exclusive power to impose customs and excise duties, or to grant bounties; and trade within the Commonwealth was to be absolutely free.
Exceptions were made permitting the states to grant bounties on mining and (with the consent of the parliament) on exports of produce or manufactures - Western Australia being for a time partially exempted from the prohibition to impose import duties.
How would you define bounties? Add your definition here.