A. B. WALLACE ON THE CAUSES OF DEPRESSION.

Ashburton Guardian, Volume V, Issue 1323, 24 August 1886, Page 3

A. B. WALLACE ON THE CAUSES OF DEPRESSION.

In the Oddfellows’ Hall, Edinburgh, on Jane 11, before a fair audience, the fourth of a course of six lectures on “ The Claims of Labor” war delivered by Dr Alfred Bussell Wallace, his special subject being “ The Depression of Trade: its causes and its remedies.” The Bcv Dr Cameron Lees presided. Dr Wallace dealt chiefly with the present depr.saion. which, ho said, had lasted ten or twelve y jars, and he hardly thought a similar state of sfftirsbad been recorded, at all' even's, within ilia present century. He had arrived at tho conclusion that the true causes of the depression were four—(he excessive am- not of foreign loaca tha> took place about fifte>n or Iwrnty years ago; the enormous increase of war ex penditure by all tho count Da of Europe that also occurred about tho same period —(applause) —the enormous increase In late years of specuht oa as a means of life (Bpp’anse)—and the consequent Increase of millionaires in this country ; and the last, and one of the most important of all the causes, might be be summarised in one of its results—the depapuhtior of the rural districts and over-population of the towns. Tho oniy mode of getting rid of the depression of trade in Britain was to work that enormous mine tf wealth which existed in their miserably treated, uncultivated soil. (Applause J