HIGH COST OF LIVING

Hokitika Guardian, 22 September 1920, Page 4

HIGH COST OF LIVING

(Mercantile Gazette)

Wo quite sympathise with Mr Massey’s attempt to keep the raito of interest down in the Dominion by refusing to permit applications for money to bo made- to the public, if the 'offer is to pay more than five and a half] per cent., but we question very much whether his object can be attained, and, if so, wc are inclined to think that flic Dominion will be the sufferer. Mjoney cannot bo kept from flowing to those places where it is most in demand. If any English newspaper of standing is opeiiccl, one will find, pages of advertisements offering debentures and preferred. shares at rates from 6 V per cent, upwards. Last month Lever Bros •were appealing for money at 8 per cent., and many first-class business concerns are offering 7 per cent. The Bank of England rate to-day is 7 per cent., in America it is no less, and the French Government is paying 8 per cent on repayment of the loan, while Treasury bills carrying 6J per cent, are selling in London at £9B 4s 6d. In the face of these rates Mr Massey we think, is endeavouring t'o square the circle in his attempt to keep interest here to the figures laid down by him. Wc will, however, assume that lie can prevent people remitting capital to other fields, where the rate is not artificially restricted, the result would :be that the present inflated prices of land would continue to expand, to the ,detriment of the Government who are ' and will be the principal buyers, and to the ruin of every man that starts farming Mr Massey’s attempt to curtail the rate of interest will drive money out of the country, and increase the present high cost of living. Officials m i other parts of the world have tried to set aside the laws of supply and demand and for a time have been successful in temporarily deflecting tueir course, but no one yet lias succeeded in preventing their operation. Mr Massey may try to keep the cost of living down by bread subsidies, apt! by compelling producers, of butter to sell their goods below The woi Id s prices, but any sucli attempt to ame--1 liorate the condition of the population 1 comes to nought, because the money from which the subsidy is paid must first he taken from them. The sooner all restrictions upon the free interchange of articles are removed the better; "the world’s markets must fix the price of commodities, and those who produce them here, cannot accept less than they would receive if they sold on the other si fie of the world. We must be content in this Dominion for much heavier costs of living, even than ive have' had in the past. There aro only 350,0Q0 males in the Avhole Dominion counting boys of 16, tliese must find the money required for administration, aiid the more taxation imposed upon them the greater must be the cost of living. From this there is no escape, and the only chance of making things better is to reduce, not to increase the burden. A great many people rejoice at the rich being heavily taxed, but the incidence must and will find its way hack, and the great bulk of the people will, in the long run, have to pay.

HOW TO MAKE A GOOD COUGH REMEDY AT HOME. (By a Qualified Chemist.) Thousands of NeAV Zealand and Australian people now make their own good family cough and cold remedy from Heenza (Henn’s Essence) prescription. It’s a wonderful money-saver and a remarkably good remedy. A bottle of I-leenzo (Hehn’s Essence), a little siveetening and Avater gives a pint of the finest family cough remedy. And the money-saving! Tivelve shillings’ worth for 2s 6d. Think of it! In other words eight eighteenpenny bottles for the price of one. I-leenzo (Hean’s Essence) takes hold of a cough quickly. It is warming, soothing, comforting. It is splendid, too, for croup, Avhooping cough, chest pains, bronchitis, asthma and many throat and lung troubles. The good it does is truly Avonderful. Most medicine dealers regularly sell Heenzo (Hean’s Essence), 2s 6d a bottle; or. post free on receipt of price from Hean’s Pharmacy, Wanganui. But be sure you get H-E-E-N-Z-0, the original and genuine.