Increased Buying Power
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fWOULD AID EMP1RE DEVElOPMENT" Chamber of Commerce Adopts N.Z. Thesis EFFECTS OUTLINED
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. (Received 25, 1.30 a.m.) j LONDON, June 24. A feature of the Federation of Chambers of Commerce of the British Empire's annual report is the adoption of Mr. M. J. Savage 's thesis that the root of the prohlem for Empire developCient is increasing the purchasing power of the masses. The report declared, "It is evident that if the people of the United Kingdom had more purchasing power, they .would gladly consume more food, If the people of the Dominions had more purchasing power, they would be pleased to consume more danufactures. The Dominions eould certainly produce more food and take more immigrants, and the United Kingdom eould lise its unemployed for producing more manufactures. This production and trade does not oceur because the importers on both sides Jmow that people have not the money to, buy additional goods." The report outlines the . econotoic situation througbout the Empire and suggests that the leaders of each industry in Britain and the Dominions must meet to draw bp a line of demarcation to preYent industries overlapping as far as possible.
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Hawke's Bay Herald-Tribune, Issue 136, 25 June 1937, Page 5
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199Increased Buying Power Hawke's Bay Herald-Tribune, Issue 136, 25 June 1937, Page 5
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