Report of the British Economic Mission to Australia

Bibliographic data

Monograph

Identifikator:: 179824683X

URN:: urn:nbn:de:zbw-retromon-182286

Document type:: Monograph

Title:: Report of the British Economic Mission to Australia

Place of publication:: London

Publisher:: His Majesty's Stationery Office

Year of publication:: 7th January 1929

Scope:: 63 S.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part III. Summary of conclusions and recommendations

Collection:: Economics Books

od sconomic results or without adequate preliminary investiga- tion of the schemes themselves. She has been mortgaging the future too deeply and would do well to restrict her ex- penditure of borrowed money for development, notwithstanding the inconveniences that must follow from deflation, and to leave the field more widely open to private enterprise. (Paras. 8 to 31.) (4) Public accounts should be prepared in such a way as to make clear what is the exact financial position of each Government undertaking. (Para. 16.) (6) A proportion of loan moneys raised overseas accrues to the Commonwealth as revenue and is spent accordingly. This is bad finance. (Para. 24.) (6) We believe that there will be substantial improvement in the future arising from— (a) The validation of the Financial Agreement and the sgtablishment of the Loan Council; and (b) from the work of the Development and Migration Commission and of the Council for Scientific and In- dustrial Research. (Paras. 82, 34 and 41.) (7) Banks and other financial authorities, and particularly, in the case of loans placed in London, the Bank of England, should be consulted in advance as to the time at which and the terms on which loans should be raised; and the objects of each loan should be fully stated in the prospectus. (Para. 33.) (8) Present circumstances in Australia are not favourable to migration, and recent figures of assisted migration show a sensible decline, but good work is being done to promote it, especially in regard to the migration of children, young people and women for domestic employment. (Paras. 35 nd 386.) (9) The scope of the schemes likely to be approved under the £34,000,000 Agreement is comparatively narrow, and those States in particular which are mainly concerned with primary production are likely to be embarrassed in fulfilling their obligation to accept a specific quota of migrants in respect of sach scheme. (Paras. 87 and 38.) (10) We consider that the Agreement might be amended and the period of its operation extended so that the funds available under it might be used for work calculated to pro- mote migration into Australia generally, without conditions as to specific numbers of migrants into any State, e.g., for scientific research and for large scale experiments to test its “esults before they are adopted. (Paras. 39, 42 and 43.) (11) The more intensive use of land already in occupation in Australia is a matter of the greatest importance. This should be promoted by scientific research and will increase she country’s wealth more surely and rapidly and more

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