ECONOMIC SURVEY

Hokitika Guardian, 7 February 1929, Page 3

ECONOMIC SURVEY

PROGRESS IN AUSTRALIA. DESCRIBED BY 'PROFESSOR COPLAND. AUCKLAND, Feb. 5. That increasing attention was being given to economic research in Australia was stated by Professor”!). B. Copland, Professor of Economics at Melbourne University, when speaking of the help which research gave to the Development and Migrat.’on Commission in placing new arrivals on the land. The activities of the commission, which was sot up in 1926, would he of uroat interest in New Zealand,’ said Professor Copland. Part of its work was to guarantee the economic soundness of projects which would be financed under the migration agreement with Great Britain. Under tho terms of the agreement, the British Government provided £34,090,000 at a lew irate of interest and Australia was to absorb 450,000 immigrants during ten years. The money was lent to the 'State Governments and all the projects financed under the agreement had to he approved by the commission. At the outset the commission commenced tho practice of making an economic survey of each region whore there was a project for development, and endeavoured to strike a balancesheet showing clearly the cost of development and the net return expected. Then* co”ld be no doubt. Professor Copland said, that this method of economic survev had brought out imminently the high cost of settlement and the doubtful nature of some nreieot-s which would have been financed out of borrowed monev. This showed value of research in safeguarding 1:1m country from over-borrowing. Sneaking of the activities of the T-Vo-nnmic Sociotv of Australia and New Zealand, of whieh he was one of the founders. Professor Conland said there were at present ten 'branches, six m Australia and four in New Zealand, at various TTuivei'oify centres. Tts mo-n----bersbip totalled P9O. composed of men of academic qualifications, students of economies, business men and Labour leaders. Twice vearlv it published an economic record, surveying economic problems of Australia and New Zealand. The society had had consider-ably-influence in Australia in promoting more interest- in economic rosea mb. The result was that Governments were undoubtedly giving more at.tent'ol) to the economic basis of legislation and policy. A permanent bureau of economic research had been advocated by the society for some time. As a result of this the Federal Government had instructed the Council of the Society of Tndust'-i’d R<?«‘*areh to set up an economic section as part of Ms activities. This would place economy research on an eoual footing with other branches of scientific reseair 1 PrnhUms simh as the economic effect' of the tariff control of prices and problems of land tenure were at- t ie moment absorbing the attention o Governments in Australia, and 1 would be part of the function of the new bureau to provide information nnon them and investigate the economic effect' of the different policies. Professor Copland, who was educated at Canterbury College, conducted research into wheat production in that nr"vinco, publishing a hook on the subject. .