Borrowing and business in Australia

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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

220 THE ECONOMIC EFFECTS OF THE can be deduced. Unemployment had been high for a year before the return to gold, and it remained at the same high level for the year following. Failing the dissection of unemployment into the constituent industries it is not possible with any degree Tas LII Cost of Living for Great Britain, Australia, and the United States (Pre-war=100.) Month. 1924 Mar. June Sept. Dec. 1925 Mar. June Sept. Dec. 1926 Mar. June GREAT BRITAIN. AUSTRALIA. U.S.A, Rate of exchange. Sterling. ‘Board of Trade.) Gold. Sterling. ‘Commonwealth Statistician.) Gold. (Labour Bureau.) Gold. $to£ 4:29 i 4-32 4-46 4-69 178 157 169 150: 172 158 181 174 169 174 165 166 148 164 151 159 170 169 171 173 4-78 179 176 168 164. 174 The return to gold, 174 176 178 4-86 4-85 4-85 172 174 177 172 174 177 171 173 174 171 173 | 174 4-86 172 487 | 168 | 172 174 168 179 174 | 177 179 178 of certainty to connect the prevailing high rate of unemploy- ment with the restoration of the gold standard. Effective wages, however, reached their peak at the end of 1924, fell steadily till the end of 1926, and then declined rapidly in the following year, a far more significant index altogether, especially as the nominal wage rose steadily through the whole period. The final index to be examined is the volume of foreign trade. Here the volume must necessarily be connected with the figure for population, and the value of exports per head is the most effective test available. This fell from £27 11s. 9d. per head in 1924 to £24 15s. 10d. in 1925 and to £23 14s. 3d. in 19261 partly owing to the decline in the export price-level, another ! Commonwealth Year Book, No. 20,

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