The Times. Published on Tuesday and Friday at Noon. THURSDAY, APRIL 1, 1920. SOARING PRICES.

Pukekohe & Waiuku Times, Volume 9, Issue 519, 1 April 1920, Page 2

The Times. Published on Tuesday and Friday at Noon.

THURSDAY, APRIL 1, 1920. SOARING PRICES.

"We nothing' extenuate, nor set down aught in malice."

People have become so accustomed to frequent increases in the prices of all goods, necessary and otherwise, that beyond an occasional shriek at the profiteers they complacently pay up, on the principle that what cannot be cured must be enduied. Because hope spring's eternal in the human breast the public anticipates a time when prices will fall, hut there is not one shred of evidence to convince the student of economics that there will be any appreciable reduction during the next five years: rather, prices will be increasing for a long time yet. Travellers from Great Britain tell us that the United Kingdom is simply inundated with buyers from all the English-speak-ing world, including America, and from France, Italy, Japan, and, in fact, from even' civilized country on earth. Fabulous prices are being offered, but even so the manufacturers are obliged to refuse orders wholesale. The incidence of war caused an utter depletion of stocks in every warehouse in the world, and it wjll take at least five years to make up the shortage and keep pace with the demand, to say nothing of building up reserve stocks. Labour troubles are greatly accentuating the difficulties in the path: we are told that any number of great factories at Home are crippled in their output by the fact that both men and women are largely addicted to drinking. They work fo.l three days of the week and spend the rest in drinking and general jollification, i Strikes for higher wages are the c»r- ---; der of the day; the manufacturers grant the inceases without much demiu\ and simply pile the increase,

plus an extra profit, on to the cost to the purchaser, who in turn hands

Lt down to the public. Everything finds its level sooner or later, and in time incomes and the cost of living will tend to balance, but the public must expect prices to keep soaring for the next five years at any rate, until the supply of goods equals the demand. In the meantime the only source of relief is a rather negative, but none the less necessary, one, namely, a rigid economy in every department of life. We must practice the Spartan art of doing without. Food, clothing, furnishings, etc., must be reduced to what are necessary, and not bought with a view to being fashionable and keeping race with people who have more money than sense. The strictest possible personal and public economy is essential in order to grapple successfully with the economic pipblems confronting the individual and the nation. Finally wearisome though Ihe repitition may be let us again drive home the ' irrefutable truth that each individual must produce the uttermost ounce he or she is capable of, otherwise we shall never meet our individual and national obligations.