WAGES AND PURCHASING POWER.
TO THE EDITOB Or THE IRESS. Sir, —In the. report of the Economic Committee it is said that lowering wages does not lower purchasing power. Of course, any schoolboy knows that if the cost ol everything —food, clothing, housing, amusements, etc. —is lowered in proportion to the "cuts," purchasing power will not be lowered, But what do we find in connexion with the last cuts? Sugar is dearer, as are most lines of house furnishing and clothes; newspapers are still J->d each; a unit of lighting current in the country is still cightpence, a letter is twopence, and a telegram one shilling. The fall in foods was not due to the "cuts," but to lower prices abroad, which the "cuts" cannot effect. The cost of food, it is to be remembered, is only a small part of the total expenditure in modern life. It must be remembered that employees form at least three-fourths of the whole population, and any restrictions of their purchasing power hits manufacturers, storekeepers, and farmers badly.— Yours, etc., LUX. March 9th, 193"2.
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Press, Volume LXVIII, Issue 20492, 10 March 1932, Page 7
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180WAGES AND PURCHASING POWER. Press, Volume LXVIII, Issue 20492, 10 March 1932, Page 7
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