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

180 BOOM OF 1919 AND SUBSEQUENT DEPRESSION in view of the continuous supply of capital through loans, less noticeable changes in the rate for interest. The facts necessary to indicate the respective movements in the rate of return to the different factors are wanting, but consideration of the position is not thereby made valueless. Greatest importance in this connexion attaches to the case of rent. Whilst the pressure of population upon available urban land continued, in so far as it was due to the increase in population itself and to an enlarge- ment in general purchasing power that was reflected in the demand for new houses, some rise in rents was doubtless in- evitable. But a more important factor intensifying the pressure upon such land is revealed in the tendency, which is now be- coming so pronounced, for industries and their attendant population to migrate to the seaboard, i.e. to the capital cities. This tendency is determined by the movement towards large- scale production, by the industrial economies offered by a location at or near one of the major ports, by nearness to the chief consumption centres, and by the lay-out of the railways. The migration of industries formerly carried on in country towns carries with it the smaller subsidiary industries and their population, and also that quota which is concerned with the business of domestic supplies, from foodstuffs to amusements. The use of the motor for business purposes is a further factor in concentrating the personnel of distribution services in the cities; and this is paralleled by the tendency for country residents to use the cities as shopping centres by means of the private car and road motor services of all kinds. All these are agencies assisting in the concentration of population in the capitals ; and it is merely a logical sequence that the return to owners of urban land is out of all proportion to the service which that land is performing in the matter of production. It 8, in fact, a matter for serious consideration how far high land values have contributed to the high costs of both primary and secondary production, and to the recent recession of business right through the Commonwealth. The statistics connected with the function of land as a factor in production are, however, open to the objection that they are mainly based on the rent of urban dwellings. This does not, nevertheless, invalidate their use in this connexion. In the first place the rise in rents for business and factory sites has been

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