men, money and markets

• Expanding population

  Britain - to provide men and women

  Promotion - large scale migration from Britain
• How it was accomplished

  Commonwealth Government - to select prospective British migrants

  State Government - to determine number of migrants required

  Empire Settlement Act - Britain to lend 3 million pounds per year
• Commonwealth Development and Migration Commission

  1926 - established by federal government

  Main Role - examine immigration schemes and allocate funds
• Soldier Settlement Scheme

  1916 - initially only available for Australian servicemen

  Federal Government - allocated 50 million pounds

  State Government - provided assistance and credit

  Settlers - 37k returned soldiers on farms
• Success of migration

  Migration - 320k migrants arrived

  Population - 5.4 million to 6.4 million in eight years

  Workforce - increased by 20%

  Manufacture - significant growth
• Failures in 'men'

  Despite the perceived successes, migrants had contributed to the high level of umployment which reached 11% in 1928. Furthermore, Unions and the ALP were unhappy with the migration schemes, of which consequently led to costly failures.
• Failures in 'men'

  Unemployment - 11% in 1928

  Unions and the ALP - dissatisfied with the schemes

  Land settlement schemes - had costly failures
• Overseas loans

  1920s - heavy private and public borrowing

  1922-1928 - 200+ million pounds borrowed

  1929 - Australia with second largest foreign debt

  Use - public work projects and company expansion
• Australian Loan Council

  1928 - est. by Bruce-Page gov

  Debt - 570 million with interest at 27.6 million
• Outcomes in 'money'

  Employment - public works projects created jobs

  Main cause of GD - reliance of overseas loans
• Assistance in 'markets'

  Marketing Boards - est. by Federal gov.

  Export Guarantee Act 1924 - growers paid in advance

  Bruce-Page gov. - provided various assistance
• Circumstances in 'markets'

  New overseas markets - advertised and promoted

  Mid 1920s - 78% of primary produce exports to Britain

  Butter - locally sold 30% more
• Successes in 'markets'

  Production - increased in the 1920s

  1921-1925 - wool sales doubled
• Failures in 'markets'

  High Dependency - on high market prices for primary produce

  Recession - unemployment reaching 11%
• Trade Unions

  1920 - 600k members

  1923 - Victorian Police on strike over poor pay

  Melbourne Cup - violence and looting

  1927 - establishment of the ACTU

  1929 - 900k members