ECONOMIC RESEARCH.

New Zealand Herald, Volume LXVI, Issue 20172, 5 February 1929, Page 6

ECONOMIC RESEARCH.

PROGRESS IN AUSTRALIA*

AID IN MIGRATION SCHEMES,

EXAMINATION OF PROJECTS

WIDE FIELD OF USEFULNESS.

That increasing attention was being given to economic research in Australia was stated by Professor D. B. Copland, professor of economics at the Melbourne University, when speaking yesterday of the help which research gave to the Development and Migration Commission in placing new arrivals on the land. The activities of the commission, which was set up in 1926, would be of great interest in New Zealand, said Professor Copland. Part of its work was to guaranteo the economic soundness of projects which would be financed under the migration agreement with Great Britain. Under the terms of the agreement the British Government provided £34,000,000 at a low rate of interest and Australia was to absorb 450,000 immigrants during 10 years. The money was loaned to the ■ Slate Governments and all projects financed under the agreement had to be" approved by the commission. Method of Investigation.

At t/ie outset the commission commenced tho practice ox making an economic survey of each region where there was a project for development, and endeavoured to strike a balance-sheet showing clearly the cost of development and the net return expected. There could be no doubt, Professor Copland said, that this method of economic survey had brought out prominently the high cost of settlement and the doubtful nature of some projects which would have been financed out of borrowed money. This showed the value of research in safeguarding a country from over-borrowing. Speaking of the activities of the Economic Society of Australia and New Zealand, of which he was one of the founders, Professor Copland said there were at present 10 branches—six in Australia aud four in New Zealand at the various university centres. Its membership totalled 800, composed of men of academic qualifications,, students of economics, business men and labour leaders. Twice yearly it published an Economic Record, surveying the economic problems of Australia and New Zealand. The society had had considerable influence in Australia in promoting more interest in economic research. The result was that. Governments were undoubtedly giving more attention to the economic basis of legislation and policy.

Research and Government. 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 thf Council of the Society of Industrial Re search to set up an economic section as part of its activities. This would place economic research on an equal footing with other branches of scientific research. Problems such as the economic effects of the tariff, the control of prices and problems of land tenure were at the moment absorbing tho attention of Governments in Australia, and it would be part of the function of the new bureau to provide information upon them and investigate the economic effects of diffefent policies.. Professor Copland is spending a holiday in New Zealand. A New Zealander, he was educated at Canterbury University College. He conducted research into wheat production in that province, publishing a boob on the subject. He was appointed Professor of Economics at Tasmania University, afterwards being chosen to fill & similar position at Melbourne.