COST OF LIVING.

Dominion, Volume 5, Issue 1475, 25 June 1912, Page 10

COST OF LIVING.

' METALLIC AND PAPER CURRENCY. ~\ sciiooi. i.v.-rirrnirs i-vidkxct:. .(■By I'clcg.fapii.-' ■I'foSs Association'.) Auckland, .hir.i' L'i. ] Jkid'Mke ilrc iiUTe;i.s;.d. |>"i:v j o.f Jiving' in it.-; vi-J;s:tioil to. ■Hii'tsiMfc iii.nl | liajio.!.' eiiri'cncy wax "i.vi.'M before the Cost !' "fit Living (';iinnii:-^ioii tovdiiy, ■! :• Tit. .las. \V'oTd>AV.ortli jrtl-niAv Tn<poc)ii> ; ' :<>.f iii reply to. ii fj'uvst.i'!)n by Uj« chairman, sai'il Vic- Jia'tl .stutliot*- :)i.ivrc problenr- tor t.h.e ie-M ii.'v'e ycArs. ijr- !li»lVl: ;llow would you lle'infi Hie of. J,i.v:in{!''.l AV'rfVi.Ui ■ a.i tii.C' i'ii.t'i'caSt'tl co.si of Kuulv £O>li'Ulod;ii\H;S (iii :t wide stmsev lond, (iltit'ldnf!... i'-vjp ■odiuoatloii, ;Vii<( reasonable t cun-purl frci-' litiv.-) ns would k'.'.ep ihi- Individ,i;iS in >ud< bod'ilv ami menial. lii'iillli ijiii.t: )i.i> '. would Vh- irblt- to work with miHi ..•f'ioinncy that Jie- would lie able- t<> keep himft;!!' . ajfil, fai'iiif-v iii ..comfort, 'and. be. .able to lay i>y sbmcMijiitt ta nra'fiitai'ii iiiiii W:li(i,n: lie .vr'as. 'Cdmi'iplioii l.o 1 -coast! work.. Has. tlie.i'e been. rt. Vise lit th>> Cost; .of. ' livii'.i;?—Y'os, I .-houid say .there lia* Ih-p.ii. : lias there been a rise in 'the: .general. i( v.'i 'O.f price-:—Yes. . ■■ ' iiiis the' ri>,. in the 'colt, .(if living lx.cn part of the ®cutr.si level <if prices.':-—Yes, ii's far .hs I call: ?ce. v ■ J What is tli'o ,l>ctw<?oii-' tlio. ynJ.uo. j o.f liioiioy iuid fhj> IcVelof ;pri^s?-^oik>; : l:is- the of tlio otlicr. .If. prices are : iii-iii the value of money is- low. -.-' 1. The level of p'ldce.s fluctuate.-;, anil ,sel- ■ dbii'i- remains, stationary ;—Yes. I Is ii: pa«sibl'o" io. .ineasiire -its; .movements?: ■ --Ye~. ' It has lirrii (lone" in. Kiifrlav-il, Uenna-.iv. the riiilcd States, nnd'Canada. ■I,' l)r. Jl'-jji-av then went on to istnt-O thai • tin- .fact was the incr.<:;i*iiis prices were ' I Hie.- 'increases. in .amminis •jpf'.ifij'fsjU,}® paper money in circulation, and increases in velocity of circulation. ;■/ .V.fe 'ygu of opinion. thafc,.|hp. state-;ol ■ fore:'!", trade has any' iniliienc.p <;n tins amount of money in circulation ill' u co.uniiy like New Zcahiid.r-Us. " sv country liris-sucli «uv.' inoiio.y ■' ■ill circulation that prices. are hisrlmr than i ill otlisr countries then there at oikc w- , i( , m e- a. -teilileiicy for Mieh a countrv to '-■■'sell .'its' goods to (ho-o. countries.. IntiH : 1: it's- e\iiorts would iiicreafe-.:aiid.:ife .iniijprti; woulil ilecrea.so. H is ;im'|»Ssib!.e for ,'my. !' co'iiiifrV' .to -iyo'ebnio' "dcpltil'Gd'' •• ;. impo.-.Mble for .any country to luive. too • much money. ■ v.' Has the cost of mintiiiß j;old any etfect on - tile amiiuut of 'Rb.ld. in" a:/eoiiiitry.. J "-, ''iK-s:. If the eo-t of mintint: increases: iuh! the cost of l'.ei'es-.uv re<|iiisile.s <,aeli \as':'esj)losivc.' ;; i, ot.C' M foi' prpcliiciii f|J ■■ijflso hicreasc, then Unver (Trade, mines nu 4 W biixloieil It on llio othei h.uul prices.are falling a.nd. the jnico of labour ■ is': .falling,, tlieu' tlin (endeney musi be fo.r. oivnsrS to' -Toopon tlic,-6- hiwcr .Kro.dc ■■ mine's. f Then w.lien. Minces-.rose''. higher there would lie! a ; teridencj\tp' ■ilo?o' v dpivii. liiines to'cut. down the <uj)p'y 'of- gold." . j-..' 'l'lie is produced ill. its bullion f-tiite, lint does not become money until, it js minted,is prctcilicfal.l y:'■' nii;-"Act-.' ; of Parliament that determine.; the yalttr of ,i t-'swlieii-' ..it .is f iiii n. tc<l : .'. 'TI ie :;B aii lc : of. ]-] n bound 'tsi ■ buy ; roUI -at certain prices and one' our.ee of pold represents lour sovereigns. Gold itself really has .'lid' prrctff , : f, .'//. . it.; purcliasiiig .power- in-bullion is :lower than, its purcha.siiis power in money;— "Ve.s; 1. think ' AVe produce roughly two-miilion-pounds worth (if gold, every 'year' :hi"':New|. : 2c<W Ja'ndi.. .M:riat': i woiil'd,. iiS. {^t ho, .cfTcct";if:- 'tins' .inoiiey were coined 'hero and put .into eir- . ciilatimi"lt mijjlil. rai>B pr.ic es. temporarily, but .it- would eveiitually flow into other countries."

: Then v.-hat'-would. happen if this were it. ,w.lKcout'ai'.uqd(''-CW ; rise': ! '

i)r. 3i;jlray, , cpiiti.ntitiig,-'', ;Hated that, ipapei; .. foitiideii : -.oil -pbii cl ; f o'yi lid. rtti piV;of or lour per cent. Ii ii p.-inic: be, urrV.il, )i qweviiv'.aiid the 'piiblic deniande'd;Ha,y,; Ml per tout, in 'iiiin of tlie realm, the /banks.;wo,ulsl ba.vq fo clbftei -. A ' i' Kej/lying tu file rhaiivmaii, witness said if the cost of iivipg ro?" in Tj;gla:id. ii wouTiS also rise: in New Zealand. Heavy armies ';ir.i' -imyies .werq-ia/jtai. oil' 'the Cii>t ot living, .a,--:thi y kej>t. in cpiiitiar.ativp idieni':? a nuiiibor 01-men who had to be sapjiortoii by the.workers. In event of ii rush ion the Bank- oi'. Xviv of./Noiy South Wales'-(far examji'e) 'would, pro"bablv ooiue t()'its of Tliiglaud anil I'rench l-anks had- gone to tho .assistance of American 'banks' during- the Wall Street- panic. . t'-'f -' . 1

' Whai. woiilil botho. result' it 1 there, were a universal, .demand ior 'iiietallic. money ---"Kyefy- bailie' would he .brck:'."-

.Ifcpiy.in,? (p. i'nrther ifjuqstjohs, 'witness .saulS heiitiioughtv ; iiimons.. iniprov«d. ard was fairly higli, ;;iid. they. had. what, lii i gr.li f, :.Vj'Q ■ c oil s i ilci'v etl' 1 u xmUe j~ :" .-.Tfi ki h gt li b.■iiiheties. as rih 'Avoragei' jjoi-ic.d, this lioinj ■ th®. jicfipU : when Hie standard .of;.- liyiii'sV' wcs lowe-.!, witness, tak'iiiir iis his ba.-is. :■!00,. '(| noted, ;fig:res- ; slirfwiii^iiat<, ; fi:oni;; •lliat liinV flie Vtiiiidaircl had ; riseiCto; 184. or the same basis cereals- .had increased, in. pricg. iiv ratio of 8o'16: ;115j' j!iv ; nial: products lfont'.!H to 115, minerals from !I2 to 101, .buililnifj; materials trenerally iron! !)l in l'ili, aiii! tiiiilicr by itselt from 100 to. 170':(«■ rise; of 70 per cvui), ■' ~ Mr. tiobert. Pammoiui, butcher, dai not lake" Ui'b'jpatii,. .Tju't" -iliatle..'liratioxii '■ lib staled that' within . flie : .last ton year's, there bad V.eou no nva.terial. ri>e in the -wholesale price'of meat. In' lus business ho found that bad debt's averaxed about 2i per cent.. The of. labour had irfiicn about 25 to :W per cent, during late .years. but' tlijs was. count erbaln.nced by |!ii. Wholesale pru' of'meat.'. " Witness, said 'undoubtedly there had been a loj-i----timaU> increase in the cost of. living all. round " Mr. H; M. RiViCoton, general grocer, ■.aii-; lmunoed't.huf he had come, before the "coinin fliisvi'cr.] ..^uiiiinons; ( . .H'o fi aiMisl: 'i have no- evidence to. offer/' . ■ Mr. Tregcar: That, is for us to decide. Hrfvp' you any vea-ons to offer for your refusal? , ~. , ■ 1 Witness; I have been; advised on » lie .matter. However. *1 imw bore a price"liif of groceries taverinS'.'fbfe'.laSt fiiieen years. ' This w.i> handed ill. and _ Mr. ' SilK ; e.tQji was inf<i itup<rl that ;as to llis vef.iisal tho cpiiv.missioit would bo advised;, upon His 'natter later. ' , JI V . Alovs Sehiiiitt. farmer, and score-, iary of the New Zealand Kariii.ers'' Union and Co-operative Association, Mated tli'at on an ,ivcra"« tfia value of land had risen by above 50' per renl. In regard to some products prices had gone up, but he did not attribute that to., the increawiL cost,: of land. Ite tliousrht. however, thatlthe; pr'ee of land had been hv the ■.steadr prices for farm products. In reto: wihifirtf on; ! .tno .a.yr>iv a'.'C farmers nu.de only J?1 per aci:e «n ilievr production, Cor.t.nnmig. he said that : fanners sent their petatcr.'s t<>- 1>i:; wr.oienaln firms, owl from there they wept, to reiailei's. Tie knew of. no .agreement ■on the part of either_ wholesalers or re-, tailer" in regard to prices. . - ' Mr Edward ?he]ar,. secretary of the Timber Workers' I.'nioii, staled that wages ft... workers lulrt .i'.iie.roifrod liibpiit, Ti.. .per, .(•"lit ' (iurinii 'lie la-t ten years. They ; 'wei-e he contended., the •worst', pand men in New Zealand, the •uiiumum wa«e be.i'iw. 7s' for yardmen. Naturally many ot flu. men secured more "than 7£.,-per dor. There had been a. rise of ;from 25 to. ~ 5 per .eat. in'the pne of limber ilurm? |j„, hist seven or veins and he riilicaled She idea that (he increase in ivfes had bee'ii tun eaiHr hf the W.-e. ConUnaiii-'. he -aid that the co-.l af WerkiM/ tiiiiber l ad jnCToased T<y abfjui fill nor ; 100 >u)»vi;lK:riv ftuv.- rn oon.c.lir!Sm .aid that the lad ih.ii liie ti,!v"'ii.r.ii'i'l was in l ',* openi'isi: up tiaibcr lar.d- 'I'.iici.ly haxl ' I' ! " r * K T' I! th.' mere: -ed P"ce of. timber., flu, oeliaff i<S tihe worker-. JVltnKs rjitered a oi o! : '-l a-asi-t the a,Hon o, ihose who I .rnfu-eil i<r eyi.ileiir.o liefoilif tji.o iVmnii-ilon Tn rnij.lv- (he .h.airman : t.i(ed that per«nes wlio hail dope so i.l'i'ii. iiol r:vai:i>e 1.0 wlri't i'h'ev liad laid tliem-elv. • open. The C unini.-.-ioa w. ro awaiting advice . u:ppii the matter- ... ... . "M'v. .1, H'. T.ine. vViinagei; .of t-h.e \Vi\r- | ten.ai.i l'ruit."rinver-' \s-;;ci'!l ".a 1 ,fniil tieaier. said tl'.at ! lieve was vol-v li'.Ue dune iii if.r'ft! !o in.nhinimr ! i„ <o, me fniil elieap fin the pavt iff Hie i: retailors.. , , ~ Mr. Arfh-iir Ro"cr, -eeretary t.o. 1 he lirocers.*' a'i'vi) ■jiliilryiiis JyHiiloy«es' Viiiniti, cea-i'lered I'lvii! there had Ik-.<-i a ri-,. in the c»i'f nf livin-r ojirtiw the la-t ■tea vea-~. T1 i.i- lie attributed .io 111" ■ iv:i:trli' !•""'» ! .;iilV-'. anil to the fan' I hat ; every Kmc we;bps wore nvereased' .:P.rie?« hail' lje.oii. I'.fi'fd, nlid. i!if bunicri -ph s'sfd : ca to .tie .workci-j. he eaii

was- rniiunnji iVwiwhiilgn t-Jr.a.l- I'M. .r<'j;fi'r>{ to ii'ij.W.'iM-V) l.livro nil.,-.-a' T'i ii# vvliic'it' •(ihl'tM.i jiri'rs. P.ur ins.i^iic'S I'[)(•• whnl?.'.s;>l'(i pi'iVe: (if : \vits quo! .Tvf- (mi, lii.i)(! iin 'K •fyi'.., tVjiijv 'i'ltfy' \v.f;j<v ! <'t,a i.M'l.l i\i lis i.Mlfl iis. •l-.vr.il wllf'-ll cg;-« v.i'i f'. |;'jv'iiii:rui : .' ' v.on? jjij'tfi'l'M w'holcsj'rh'i ai. Mil., ii'i.ir). n. Tai.r rc'llii! -ixi'ic« ili fi'lvi> wax iOii. lustful .of. .thu.t:, iiihYi'vi.'?', ill'.' ]».ri'.c.o. : \V - as p!'ii' -Io '\h o;; 'I ;i(L Again, (i bj/ know Ikhl arkcr:i/.iV<! ;*• H'.i taiii snap In. if Kaljf* ;if. .1(111; jir.r I>;vr, wlin-l): t)iM f lyi'.Jiv. TuntH'ftijjij'i'jV Allc lyj nilc j,,y\ri i(>?i .of f (lny:<;rs lon} v/i'iiljjn to Kim. f hi* si j j>t>!y wiiiihi ho <Mit; h.t' J t'li'lp- pri<Mv is.. ji. I>ar. AS'IU 'sii'r>. wive' i'iiiolh'.iM; in.sfiui.n'' .of: sV #17K>r >i.\llink Emulsion In-law' Wuv usual. piiy-.c, 11 ).i' ;v-rs-:)Ci;it in.iv !ia.< 1 \vrij t en,. f>;. '•'ltfi!!,: n s.l\ i iff j -I ij s- in •t-j'i«. v ij |Vv Vv'.itiKiKK lia'h/i'cxl' iii; -iu.o :iWu'j£iMds. vvrj'fl.fiji: ilt iliy .iiri'j't-.ti.ii.s. In q.'ur<(:i'iu}-, D>lUi.nu.i.ng.., >!i\.. • ;l.}iaS : . *Ikm& \vo]'(i lawi If • r.a 1 Ks- on;' rill rif . frpn;<l's, a< ; inuA'nril; ami ,«i.ar<:h.' 'J-l.i.c s;iriio .applied j') i<t < Jfliß's .an.d ij'lior Artielj-f.. Ho : <!<;lai]V:.f •the ,nn.m<-* pi' SJi? wjl'io, lie >aiV!; cunIrollci] i.hf.l. price* (o.r •dairy '.prodiic^..