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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Chapter

Document type:: Monograph

Structure type:: Chapter

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

Collection:: Economics Books

208 THE BALANCE OF INDEBTEDNESS, 1918-28 profit made by Australian businesses during the years in question. Working on the dividends paid by twenty representative con- cerns, the average dividend rate which appears in the following table was reckoned. It is, therefore, now possible to set out the situation in this respect as far as the known facts will take us. Year. 1920 1921 1922 1923 1924 1926 1926 | 1927 1928 TasLe XLVIII Interest Payable Abroad on Government, M: unicipal and Business Loans, 1920-8 (In Millions Sterling) MUNICIPAL.? GOVERNMERT.! | Amount. | Interest. Amount. | Interest. Amount. Rate. + Interest. 419-1 £30-5 172-6 176-5 524-6 524-7 562-2 574-1 628-3 17-263 18-233 20-490 20-792 23-205 23-748 25-551 26-827 28-088 1-0 2:0 2-9 3-4 7-5 38 8-9 11-0 15:9 0-065 0-107 0-160 0-186 0-411 0-485 0-491 0-606 0:878 36-6 381 40-4 42-5 45-7 47-2 51-5 58-6 61-3 8-2 4-4 3-6 4-8 33 55 7-0 6-7 53 2:201 1.676 1-456 2-083 2-427 2-597 3-605 3-926 2.940 Total. Interest. 19-519 20-016 22-106 23-061 26-043 26-830 29-647 31-359 39.215 Tt is not possible to compute accurately the amount of capital introduced through private channels since 1915, although it is certain that this movement went on at an accelerated rate. Expansion of business financed from overseas in connexion with motor vehicles, moving pictures, electrical and wireless equip- ment, textile manufacture, &c., was particularly active. Tariff amendments after 1921 were responsible for similar develop- ments, especially in textile and motor industries. The utmost that could be attempted, therefore, was to continue the pro- gressive movement of capital already computed for the 1900-14 period ; and this was estimated pro rata with the importation of capital by public ‘business’ loans. The impression obtained was that the estimate made by Wickens,* considering that his estimate includes private capital here called business loans, is ! Finance Bulletins of Bureau of Census and Statistics. 2 and * Estimate by the Economist published by Cooke and Davenport, Imperial Finance. 4 Mr. C. H. Wickens, Commonwealth Statistician, arrived at an estimate of £200,000,000 for the year 1925. See paper, Australia’s National Balance Sheet, 1926.

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