THE SOVEREIGN TO-DAY

Dominion, Volume 9, Issue 2714, 8 March 1916, Page 8

THE SOVEREIGN TO-DAY

FUE.CH ASKING VALUE ICs. l}d. The Labour Journal this month publishes an interesting table showing the value of the sovereign considered with regard to the commodities it would purchase, taking the quantities which could be purchased in the years 1909-13 as n base. In some cases tliero was a greater decrease than in others. The particulars are: Glrocories (value of sovereign which would purchase goods worth 20s. in the base year): December quarter, 1914, 18s. 6Jd.; December, 1010, 16s. od. Dairy produce: December, 1911, 19s. Bd.; December, 1915, 17s! 7j|d. Meat: December, 1914, 16s. 4ijd.; December, 1915, 15s. o}d. The average of the three food groups was as follows: — s. d. 1909-13 20 0 December, 1914 • 17 3J March, 1915 .16 10* June. 1915 16 9 September, 1915 16 7^ December, 1915 16 1J 'illis table is an averago for the Dominion obtained by "weighting" the returns of twenty-five representative towns. In certain places the shrinkage of the sovereign is more marked. The cost of living barometer shows Wellington still far above all other towns. In December, 1915, Wellington's position is represented by the number 1263, while the next town, Taihape, is 1181, 182 points, or almost 18 per cent, lower. On the figures given a weekly wage of £3 over the years 1909-13 is now worth only £2 Bs. 3§d. This is without- consiciering rent. In Wellington, where rents are a most important factor, and whore they have risen in tlio past five years, the real as distinguished from tho money wage would be much less.