Employment psychology

Unemployment in the United States

Bibliographic data

Monograph

Identifikator:: 1028407564

URN:: urn:nbn:de:zbw-retromon-47263

Document type:: Monograph

Author:: Link, Henry Charles; Thorndike, Edward L. http://d-nb.info/gnd/118802127

Title:: Employment psychology

Place of publication:: New York

Publisher:: MacMillan

Year of publication:: 1924

Scope:: 1 Online-Ressource (XII, 440 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Psychological tests

Collection:: Economics Books

but we are of opinion that she has not in past years always borrowed wisely, and that she has pledged to too great an extent those future resources, and mortgaged too deeply that future prosperity upon which she can reasonably reckon, thus throwing the burden of her borrowings upon future generations who will have their own needs to meet. 81. We venture to quote an opinion expressed by two eminent citizens in a recent report to the Government of South Australia :— ‘“ We have the greatest possible confidence in the resources. of Australia. As soon as statesmen and people realize that, while we owe money abroad and require to sell our products abroad, our standard of Government and private expenditure must be in relation to our position in the world’s affairs, then will our real prosperity be established. No Act of Parliament can alter this basic truth. That a new country is justified in borrowing money for reproductive works has always been recognized, but results must be achieved and production must advance in proportion to the public debt incurred.” 32. A less ambitious borrowing policy such as we have outlined above can be contemplated with confidence. In the first place we cordially welcome the unanimous acceptance by the States of the Financial Agreement under which the Loan Council is established and the overwhelming majority obtained at the recent referendum for the necessary amendment of the Constitution to enable the Commonwealth Government to validate the Agreement. It now remains only for the Commonwealth Parliament to authorize the conclusion of the Agreement, and our knowledge of the London money market enables us to say with confidence that the sooner that final step is taken the better it will be for Australian credit. The conclusion of the Agreement will mark the definite end of a condition of affairs when seven different Australian Governments, sach acting independently of the other, entered the loan market with no regard for, and indeed, to the prejudice of, each other’s mterests. Collective borrowing by the Commonwealth on its own and on the States’ behalf will mean cheaper borrowing than would otherwise have been possible. The provision of a regular sinking fund both for existing and for future loans will be heartily welcomed in London; and if the objects of the loans are such as we have attempted generally to indicate above we have no doubt of their favourable reception. It is true that the Loan Council will not 5e empowered to deal with the merits of the loan programme of the Commonwealth and of the individual States, but only with the total amount that can be borrowed in any year. Nevertheless we teel certain that the discussions which will take place in the Council will conduce to prudence in the objects of public borrowings as well as to moderation in their amounts, and that mutual consultation in this, as in many other spheres, can be productive only of good. [he Financial Agreement wind the Loa Council.

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