Australia. Guide to Australia

‘Bank’

In the political life of Australia during the period from 1901 along 1914 There were special groups, speakers in defence of free trade, and protectionist groups, While the Labour Party held the balance of power and eventually encouraged the introduction of tariffs.

Other important events of the period under review was the provision of pensions to the elderly and the adoption of the system of conciliation and arbitration in industrial disputes.

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After the war, the country was experiencing an economic boom. В 1923 starting a business, "Holden" marked the beginning of the Australian automotive industry. В 1925 "Ford" has opened a branch on the maInland. The development received and other new industries, including electricity.

In 1927 trade unions were united in the Australian Council of Trade Unions.

During the post-war boom has increased the influx of emigrants into the country. By the early 30's the population reached 6,5 millions of people.

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As a major producer of primary raw materials, Australia quickly felt the impact of falling prices on the world market in 1929-1931. To overcome the difficult situation, federal government cut salaries in the public sector, pensions and interest on the bonds.

Arbitration Court decided to reduce 10% real wages. Rate of the national currency stabilized at obescenennom level. Union Bank has agreed to provide loans for public works for the unemployed and aid to agriculture, to cover the public deficit.

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