Thoughts For The Times
Falling Pricks. What does this downward movement amount to! What does it signify? It is not a. movement towards making the pound sterling worth twenty shillings instead of thirteen shillings that its purchasing power has indicated it to be worth. The contraction of trade and the fall in prices will help to deflate the paper currency and the sovereign will have again its full power and purchasing power. The fall in values has come rather more rapidly than was desirable, hut perhaps it was necessary to bring home to tile workers the imperative necessity of wages being reduced. No doubt some unions will fight against the reduction, but their energies will lie wast'd and the fight will go against them. Because of the probability of this resistance there is every probability of the increase in unemployment.
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Hokitika Guardian, 22 March 1921, Page 2
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140Thoughts For The Times Hokitika Guardian, 22 March 1921, Page 2
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