THE SOVEREIGN

Dominion, Volume 11, Issue 39, 9 November 1917, Page 6

THE SOVEREIGN

•ITS DECREASING PURCHASING POWER. ■ s Thedecreasing purchasing power of <he .sovereign (a coin that show almost us rare as raoa bones), is merely another phrase to signify the increased cost of living. According to the latest investigation by the Government Statistician the sovereign is'getting appreciably less in value each quarter. Jn the September quarter of 1916 it) took 265. OJd. to purchase in 'Wellington what could have been purchased for 205.-in the average of the four centres in 1909-13. In the December quarter the sum had risen to 265. 3W.; in the March quarter, 1917, to 278. sid.; in June, to 275. lOjd.j and in September, to 275. lljd- Less can be purchased with a sovereign in Rotorua than any other of the 25 representative towns in New Zealand that are tabulated. , There, in that Government-owned and run. town, what could in 1913 be bought for £1 now costs 29s._ljd. Dunedin is in the most enviable position, for there it only takes 6s. 6d. more nowvto buy goods which in 1913 could have been purchased for £1. \ ' , The. following table shows the relative worth in terms of commodities (but statr ,ed for convenience in terms of money), represented bv a sovereign, -luring the years 1915 and 1916, and the first three quarters of 1917, taking the average •wortKTn the y«aTB 1909-13 as base, 20s.;— Gro. Dairy Quarter ending, ceries. produce. Meat; ' ' ~ s. d. i s. d. s. d. "March, 1915 16 6} 18 2J 16 5$ '.Tune, 1915 16 7} 16 6 17 f Sept., 1915 16. 7J 17 li 10 41 Dec, 1915 •16 5 17 TJ 15 0$ March, 1918 ... 16 «i '16 101 15 1} June, 1916 16 10$ 15 CI '15 0J Sept., 1916 16 6 15 i M 9} Dec., 1916 15 8* 15 8 13 8 .March, 1917 ... 15 2}"> 15 3 14 0} .Tune, 1917 15 8 U U 13 Vi ;Sept., 5917 15-5 14 Si 13 8