Abstract copyright UK Data Service and data collection copyright owner.
This is one dataset arising from a project whose main aims are: 1. To contribute to knowledge by engaging in a study of the relationship between Australia, New Zealand and international capital markets 1850-1950 which would focus on three key themes: i. The history of Australia and New Zealand as borrowers and debtors. ii. The rise and consolidation of the British 'colonial' market in the London capital market from the mid-nineteenth century to the late 1920s. iii. The interaction between the market disciplines to which all borrowers were subject, and the opportunities and constraints created by membership of the British Empire. The study would also evaluate recent arguments (Cain and Hopkins, 1993) about the role of the City of London in the dynamics of British imperial expansion and control with respect to two British settler societies, Australia and New Zealand. 2. To extend and revise the statistics of Australasian public debt in the period 1850-1950. 3. To create a database of Australasian overseas public loans during that period. The projects specific objectives were to complete three stages of research: 1. The consultation of archival and printed official sources in the United Kingdom and Australia relating to Australasian borrowing activity and relations with overseas creditors during nineteenth century. These either had not been available to, or were not consulted by, earlier historians. 2. The collection of quantitative data for revised statistics of Australian and New Zealand public debt between 1850 and 1950. 3. The collection of data for a database of Australasian overseas public loans during that period.
Main Topics:
This dataset publishes new statistics of Australian colonial and state debt, and of capital raised by all Australian public borrowers (including corporation) in London, until 1914. Current historical statistics do not distinguish between stocks of debt held locally or abroad. Moreover, the time series of new capital subscribed or received in London prepared by Butlin, Simon, Hall, and others often aggregate all colonial public borrowing, have different terminal dates, and are inconsistent with each other. The new statistics remedy these deficiencies. Three types of table are presented. The first disaggregates, and where necessary corrects, the official annual statistics of stocks of outstanding debt of each Australian colony, distinguishing between the place of original sale, long and short-term securities, and gross new issues (i.e. the nominal value of all securities sold) and repayments. The second shows the stocks of long and short term debt held in Australia and the United Kingdom. These are taken principally from Statistical Registers, and include debt (e.g. stock issued by Savings Banks) omitted from the official statistics in the early years. The final type of table summarises the principal annual flows in London of capital created (including as a result of conversions and exchanges), subscribed, received, and amortized for each colonial government and for public corporations as a single group. It excludes flows arising from remittance of securities originally sold in the colonies, but includes transfers from London to colonial registers and purchases from sinking funds where they are known. The data is presented in 18 spreadsheets and are of seven separate borrowers: New South Wales (3 spreadsheets), Victoria (3), Queensland (3), South Australia (3), Tasmania (2), Western Australia (2), and public corporations (1). Please note: this study does not include information on named individuals and would therefore not be useful for personal family history research.
No sampling (total universe)
Transcription of existing materials
