GOLD OR, HIGH WAGES? Dining tlie war we could not make the goods we required, therefore we had to buy. The gold supply wa s too small to pay for the goods, therefore we had to borrow, and yet prices increased very fast. If this shortage of gold canned the rise it is difficult to see the present shortage making the fall. The final conclusion is that the gold movement made no difference, which leaves cost of production the only factor.
“The only way to prove which is the correct conclusion is to forecast the result. This we are attempting. If wages and prices are adjusted to the pre-war standard then our view will be correct. On the other hand, if the wn»cs „re maintained and prices recover then the gold movement ' nn V | )n f,>r ri *ct. We are unable to judge exactly how long it will take u/ adjust wages, but expect a movement in this direction tu continue for some time. A financial crisis, which we expect, will probably accelerate this movement. When wages are adjusted prices of cotton, etc., will recover to U’c ore-war level.—Air Percv Wallis, F.S.S.
Stipulate Sharland’s Vinegar if you want the host, and accept no other. Tdeal for salads, sauces, pickles and for ordinary table use. In bulk or bottle.—Advt.
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Hokitika Guardian, 31 January 1931, Page 2
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218Page 2 Advertisements Column 5 Hokitika Guardian, 31 January 1931, Page 2
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