Borrowing and business in Australia

Bibliographic data

Monograph

Identifikator:: 84539584X

URN:: urn:nbn:de:zbw-retromon-36509

Document type:: Monograph

Author:: Koechlin, Armand

Title:: L' Industrie cotonnière en Allemagne

Place of publication:: Paris

Publisher:: Pelletier

Year of publication:: 1906

Scope:: 1 Online-Ressource (387 S)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Salaires

Collection:: Economics Books

INDEBTEDNESS FROM 1900 TO 1913 161 must be reiterated that this period is merely one of several phases in our history where identically the same effects are to be discerned. Another, and perhaps more important, consideration in rela- tion to business cycles is revealed by the graph (Fig. XIV) which £m 25 wy : . IMPORTF™' +1 PEBIT CREDIT ir SPATE PNAS — — - — rset i902 1904 1906 1908 791 0 z 912 1914 Fra. XIV. CAPITAL LOANS AND THE BALANCE OF INDEBTEDNESS, 1901-13 Smoothed 5-year moving-averages of loans and of excess of debits Aner eredits shown heavy. concludes the survey of the period. The precarious poise of national finance, when either normal productivity or the customary flow of capital falls away, is exposed by the inter- section of the moving-average curves in 1903 and again in 1910. That business depression should accompany, the excess of in- debtedness over capital borrowings is no mere coincidence. Effect follows cause with logical precision ; and the main facts stand out too starkly from the picture to admit of misinterpre- tation. Iv 10)

Access restriction

Copyright

fullscreen: Borrowing and business in Australia

Monograph

Chapter

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation