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On her fertile but limited coastal fringes live six or seven million people—about as many as inhabit Thibet.

Their resources are too scanty to be the basis, as those of the United States are, of a Continental civilization, rivalling in economic power, by virtue of internal freedom of enterprise, all the rest of the world.

following account of Australian economic development attempts, to keep in the forefront the private activities by which British settlers in Australia have transformed a prison-yard and hunting-ground of savages into a productive annexe to Europe and Asia, proud of using its labour-saving methods as means to general well-being. Studies of government expenditure on development are being made, notably in the work of the Hon. The scene of the new beginning here studied was a distant and at first despised part of the dowry of that fairest mistress "Trade", for whom Britain, Holland and France long fought.With thinned ranks they came back, aware that the danger had been repulsed at heavy cost. In this access of wealth, Australians one and all talked of making their country more self-reliant.Clever men stampeded the democracy into measures seemingly designed to make our economy a hermit one.Incidentally her White Australia policy would then become internationally helpful. first British settlement in New Holland was planted on 26 January 1788 beside a little rivulet, known later as the Tank Stream, on Sydney Cove, Port Jackson.Seeking high efficiency and low costs by reverting to the tariff policy of the young Commonwealth (1902-1908), she can, for many generations to come, stimulate the production of a greater surplus of raw materials and foodstuffs. It was not scenic beauty that attracted the sailors, but the prime necessities of a seafaring people—sheltered anchorage and fresh water.

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