Part IV: Agricultural Economy in General 



AUSTRALIA. 



IvAND SETTLEMENT AND THE PROVISION OF CREDIT 

 IN WESTERN AUSTRALIA (concluded) (i) 



by 



Dr. J. W. Paterson, 



Professor of Agriculture in the University of Western Australia. 



§ 3. The provision of credit. 



Land, labour and capital are the elements of production. With his own 

 hands the settler in Western Australia usually provides his own labour, 

 and the government supplies the land on easy terms ; it also goes a ver>' 

 long way indeed to finance the farmer by means of loans. 



The Bank Acts. — By the Agricultural Bank Act, 1894, a bank was 

 estabhshed for the purpose of promoting the occupation, cultivation and 

 improvement of farm lands within the State. This Act with a number of 

 subsequent amendments was repealed by a consolidating Act in igo6 

 which placed the bank on a new footing. Under the new Act the bank 

 was placed under three trustees appointed by the governor in whom is 

 vested the whole of the bank property'. The necessary funds are chiefly 

 provided by the issue of mortgage bonds to the Government Savings Bank 

 at a rate not exceeding 4 per cent. At later dates they have been partially 



(i) See the first part of this article in our issue for December 1916. 



