With the end of World War One came to an end of emphasising on social reform at a federal level. The Bruce-Page nationalist-country party government was seen to have increased its concerns with the economic value of Australia.

History E306 Naomi Fuller

With the end of World War One came to an end of emphasising on social reform at a federal level. The Bruce-Page nationalist-country party government was seen to have increased its concerns with the economic value of Australia. This was to be a changing economic circumstance compared to that of the Hughes regime in the years before. This changing factor was heard in an enthusiastic speech delivered by Prime Minister Bruce, that if Australia’s great natural resources were brought into full development this ‘would solve most of the economic problems that face the world’. This new imperial policy was known as ‘Men, Money, Market’. The nationalist-Country Party erected such a proposal of economic plans to deal with immigration, markets, both primary and secondary, financial reforms and foreign affairs.

The commonwealth now had a new role with dealing with immigration. Once left to the states was now a federal role. From excluding migrants, pre World War One, the states were now prepared to allow the federal government to intervene and to promote immigration to Australia. When the Bruce–Page government came into power in 1923 it was decided that the federal government would have a greater role than in the past. Under the Empire Settlement Act of 1922, which Britain agreed to lend £3million a year for 15 years to assist in the settlement of British migrants. In 1925 the British and Australian government s agreed to lend £34million to the states over 10 years and a further £75 for each migrant settled. In 1926 the Development and Migration Commission was set up to supervise immigration into Australia. The commission was to exercise approval for development schemes however rejected most, authorising only $8 850 000 and although $200million was borrowed for public work programs from 1922-1928 the immigration quota fell short of expectations. Between 1921-1929 however 323 000 immigrants arrived in Australia with almost two thirds assisted. Of this money borrowed some £50milion went into settlement schemes. One such one was the soldier settlement scheme. This and other settlement schemes were seen as wasteful. Small farming properties were allocated to soldiers who had served in World War One but even under the best circumstances they were to small to support families. This scheme was controlled buy the state because they owned ‘crown land’ but it was the commonwealth who had to foot the bill at the end with borrowed money from the British. But this scheme was seen to only bring more misery towards the war veterans, with many having to walk off the farms, unable to pay rising debts.

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Evaluation of the slogan ‘Men, Money, Markets’ sees that alone Men and Money could not expand the industry of the Markets. The Bruce-Page government realised that there was no point in increasing farm output if there was no markets to sell to. The nationalist-country party then had to find new markets to improve marketing methods. New markets were opened up in North America and Asia, although Britain was still the bulk buying of Australian produce. Marketing boards were set up to promote goods such as dried fruits, wine, dairy and canned fruits. In 1924 The Export Guarantee Act was set up to authorise the government to guarantee to the marketing boards up to 80% of market value and assisted marketing products with a £500 000 injection into the system. In recent years before the Country Party was in power, they had heavily opposed the high tariffs, but authorised the belief of protection all round for both primary and secondary industry. However by protecting local produce of primary industry it meant that Australians were forced to pay higher prices so that primary industry was protected form foreign competition. Because of the post war shortages and high prices the future of the twenties looking bright. Australia was now changing its shape with wool and wheat production industries expanding, with vast economic success. Australia also saw prosperity dur to the high export prices, increasing volume of exports and a huge flow of capital into Australia via its primary and secondary goods. Australia’s income amounted to annually to approximately £140million and only £30million from government borrowing. So if exports were to fall suddenly would create large problems for Australia.

Australia’s changing economic circumstances were also seen in the secondary industry. From the beginning of World War One this new industry in Australia had been stimulated by the safeguarding of protective tariffs. Post World War One saw the growth and demand of (particularly) new consumer goods, with the advancement of new technology. Goods included innovative household appliances, cars, and telephones, mostly due to the increase in the population due to mass advertisement for immigration and the flow that followed. Australia was seen to be very industrialised and was less dependent on imports then what was compared to pre World War One. Manufactures, although quite independent, still needed protection with tariffs, and so in 1921 a tariff board was set up to direct the government on the levels of defence needed and in 1924 the Australian Made Preference League was created in aim of persuading nationalistic support for the Australian manufacturing industries. In the twenties, several American and British companies set up secondary companies in Australia. Examples include General Motors and Ford, which were both a subset from America, who created cars and General Electric (also an American company), who created electric household appliances. Another evaluation of Australian economic shaping was evident in the rate and degree to which Australia was growing within the cities and outer suburbs. This wasn’t surprising though, considering that the manufacturing business was primarily based in the cities. But by the late 1920’s, manufacturing production had begun to slow. Although it had reached a third of Australia’s total assembly it had come to an end, ceasing to expand.

The Bruce-Page, Nationalist-Country Party coalition government, was seen to represent the agriculture aspect of society, and so it is seen in many of its decisions with government authority to protect the lively hood of so many primary and secondary producers.

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