THOUGH FOR THE TIMES
CmuiKNCY Depreciation. The cause of currency depreciation has been the issue of paper money to au excessive extent, one of - the laws of economies being that the more inconvertible paper notes there are in circulation the smaller is the value of each note. One of the world’s leading authorities on the subject recently went so far as to say that: “The paper currencies of Europe have cost the people far more than all the direct expenditures upon the war, and have involved them in a state of disorder and misery from which they do not see any wav of escape.”—The Forum.
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Hokitika Guardian, 7 June 1922, Page 2
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105THOUGH FOR THE TIMES Hokitika Guardian, 7 June 1922, Page 2
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