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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Document type:: Monograph

Structure type:: Chapter

Title:: Part V. Australia during and after the great war

Collection:: Economics Books

202 THE BALANCE OF INDEBTEDNESS, 1918-28 and credits. The deficits as represented by the debit balances in 1920-1, 1923-4, and 1926-7 tell their own tale of the diffi- culties experienced in those years, and further elaboration will serve no useful purpose. If to these conditions we add the fluctuations in purchasing power owing to the normal seasonal character of primary pro- duction which again are transferred in a marked manner to the trading centres, we have an economic organization of a peculiar pattern, in which the activities of the great aggregations of population at the seaboard are responsive in a very delicate fashion to the prosperity of the back country. It is obvious that bhis arrangement tends to exaggerate in the capital ports the effects of expanding and contracting trade to an extraordinary degree. In the dependence of a large proportion of the popula- tion of the seaboard cities upon the activities of overseas trade, it is to be supposed, is to be found the chief reason for many of the recurrent seasonal problems which cannot be treated here. That they are, however, connected with the acceleration and retardation of capital supplies from overseas is undoubted, and the position is far from comfortable in many of its aspects. Tare XLIII The Commodity Balance of Trade, 1320-8 (In Millions Sterling) DEBITS. Year. (919-20 1920-21 1921-22 1922-23 1923-24 1924-25 1926-26 1926-27 1927-28 Commodity | imports. 81-045 143-078 37-926 116-633 124-454 130-186 | 134-403 146-253 129-313 Imports Jor re-export. | 5-254 5-387 5-728 3-119 3-326 3-088 3-067 2-989 4-266 Specie and bullion. 0-046 0-020 0-043 0-031 0-062 10-543 0-421 0-589 1-008 Imports of ships. 0-038 1-330 +575 2-133 3-379 )-268 0-303 0-213 0-350 Total Debits. 86-373 149-815 98-272 119-916 128-220 144-076 138-194 150-044 134-937 { See in this connexion the remarks by D. H. Robertson: * With the partial closing of the vast gaps which existed in the nineteenth century between the comparative effectiveness of different countries in agriculture and industry respectively it is becoming natural that the world should settle down to a smaller relative volume of international trade. Yet fiction, prestige, tradition are all on the side of pushing loreign trade to its utmost limit. The result is the problem of “sheltered” and *‘un-

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