Borrowing and business in Australia

Bibliographic data

Monograph

Identifikator:: 183051623X

URN:: urn:nbn:de:zbw-retromon-222122

Document type:: Monograph

Author:: Wood, Gordon L. http://d-nb.info/gnd/1239193688

Title:: Borrowing and business in Australia

Place of publication:: London

Publisher:: Oxford university press, H. Milford

Year of publication:: 1930

Scope:: xv, 267 Seiten; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Part V. Australia during and after the great war

Collection:: Economics Books

THE BALANCE OF INDEBTEDNESS, 1918-28 209 considerably below the real total. The reckoning of a fair rate of interest on the capital involved was again a matter of guesswork ; but since probably 50 per cent. of private overseas capital in Australia is sunk in mining and pastoral ventures, an index based on the value of agricultural, pastoral, and mining pro- ductivity seemed to offer the best guide for the changing rate of remuneration. The result of the consequent calculation is given in the following table: Tare XLIX Investment of Private Capital in Australia Fear. 1920 1921 [922 1923 1924 1925 1926 927 ' [028 Progressive total. £m. 200 201 202 | 204 206 208 210 212 214 Index of production. 100 88 75 38 100 118 80 70 75 Estimated rate of return, per cent. 3-9 49 38 31 3b 6-3 5-4 50 Estimated Interest. £m. 14-800 11-914 9-946 12-028 12-740 13-464 13-130 11-608 10-760 IV. Non-commercial Items. With the exception of capital privately invested in Australia the least satisfactory item in the estimate of Australian inter- national indebtedness is that concerning capital introduced by immigrants, and the counterbalancing cost of assisted immigra- tion. It is difficult to understand why the facts connected with assisted immigration in particular should be so difficult to obtain, except that the conditions and restrictions affecting assisted passages invite some manipulation on the part of the immigrant in respect to the amount of capital which he transfers. Considering, first, the capital introduced, the total amount declared by migrants to the Immigration Office admittedly bears no relation to the total amount transferred; and there is no method by which the devious transfers can be traced and computed. Again, the number of assisted passages is only about 60 per cent. of the total immigration; and it is highly probable 3710 we

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