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

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

Chapter

Document type:: Monograph

Structure type:: Chapter

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

Collection:: Economics Books

RETURN TO GOLD IN 1925 221 significant index to be noted in this connexion. From a price- level of 2,803 for all classes of exports in 1924, the price fell to 2,152 in 1925, and to 2,080 in 1926, pre-war level being reckoned at 1,000. Thus each and every one of the indices examined moves in sympathy ; and apparently, in response to the operation of some factor which commences to function in 1925. Cost of living, Tasre LIII Unemployment, Wages, and Trade Activity, Australia l nemploy- ment. ner cent. Month. 1924 Mar. June Sept. Dec. 1925 Mar. Tune Sept. Dec. L926 Mar. 3.2 June 5-8 Sept. 7-8 Dec. 5-8 16 8:3 94 10-1 9-3 10-3 79 B.] Nominal waages. 1,848 1,840 1,838 1.839 1,840 1,846 1,869 1.887 1,892 1,904 1,922 1,938 Effective wages. 1,060 (for year) 1,096 (for year) (,080 (for year) 1,070 (for 1927) Exports ver head. £27-588 (for year) £24792 (for year) £23-712 (for year) | Export price-level. 2,803 (for year) 2,162 (for year) 2,080 (for year) wages, unemployment, and export activity all tend to corrobo- rate the contention that the return to gold was not a negligible factor in the adverse Australian situation which developed in the period immediately following the 28th of April 1925. Something further must now be said concerning the steps taken by the British Government at the time of the restoration to prevent any excessive export of gold owing to the adverse trade balance. ; “The first remedy was to put obstacles in the way of our usual lending abroad by means of an embargo on foreign loans, and recently on colonial loans also; and the second remedy was to encourage the United States to lend us money by maintaining the unprecedented 1 Commonwealth Labour Reports, Nos. 15, 16, 17,

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