PRIVATE WEALTH.

Hauraki Plains Gazette, Volume XXXV, Issue 4651, 21 January 1924, Page 3

PRIVATE WEALTH.

'£Bs6 FOR EACH ADULT, POSITION IN NEW ZEALAND, There has been, an enormous increase in the private wealth of New Zealand since pre-war times, though th*s cannot be taken to mean that it has doubled, as the official figures lt is explained by the Government statistician, who bases his estimates on the returnfe of estates submitted for probate, that the enormous increase of over £300,000,000 in t the private wealth of New Zealand in 7 1922 compared with the years 19141 is largely due to' inflation in the curs rency. “Increase in value as measured in money is possible without increase in wealth,” he points oue. "It would appear that the inflation of the currency is in a measure accountable for the wide disparity in the two estimates. At the same time, it cannot be overlooked that the figures reflect, largely, the prosperity of the country/’ Estimates of the private wealth of New Zealanders are made by carefully averaging from the definite figures submitted year by year in connection with deceased estates. This enables the Government statistician to say that the private wealth held in New" Zealand at the end of /T 922 amounted to SGBIMTS/ZBO. Distributed among the whole population, ■ tb’s immense sum would work oiut ac £sl4 per head, but as it ir. largely, held by adults the fairer average would be to take the population over the age of 20 years, when the sum. per head would be £856.