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 I. Characteristic features of australian business and an account of the early years

Collection:: Economics Books

CRISIS OF 1840-3 19 respect it can again be compared with the later crises; and it affords one more reason for concluding that the essential causes of our business troubles have not changed throughout the years. The gradual approach of the first great financial crisis in our history can be clearly discerned in the trend disclosed by these figures, and they are sufficient ground for assuming, in the light of later business disasters, that there was at this time an in- flation of credit at a greater rate than that of the increase in reserves, which were, in fact, almost stationary for most of the period. TaBLe IT! Population and Bank Reserves of New South Wales Fear. 1836 1837 1838 1839 | 1840 1841 1842 1843 1844 184.5 Population. 78,929 86,482 98,176 113,437 127,468 145,303 162,317 169,315 178,460 187.918 Coin and Bullion in Treasury and Banks. x= 420,720 427,432 520,127 516,069 397,581 162,624 175,389 423,972 659,023 855.166 (a) Reserves as dmount per head. . ee. 1. J. ) 6 2 +10 2 21 5 109 a (a) To cover the shortage of currency in this year debentures % the amount of £49,500 were issued. It is impossible to close this brief survey of the vicissitudes of the early years without some further reference to the course of events in South Australia.2 This model colony, founded on the theory that the sale of land would pay the primary expenses of development, had, under Gawler, gone far towards Proving the essential soundness of the theory ; but the requests for assistance from the Imperial Government had led to a drastic change in the administration. In this way the province had provided the initial impulse which led to suspicion and distrust in the mind " From the official Statistical Abstract for Colonial Possessions for the years concerned, and for previous table. ? An excellent account of the crisis and of the curious circumstances from which it arose is given by A. G. Price in The Foundation and Settlement of South Australio.

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