Page 7 Advertisements Column 4

Pukekohe & Waiuku Times, Volume 9, Issue 526, 27 April 1920, Page 7

TEMPORA MUTANTUR RT NOS MITT AMUR IN ILLIS. (The times are changing, and we with them.) The Evolution of Economics. IT doesD't require a professor of economics to Rive the reason why. Prior to the war the Dominion's man-power was about 300,000. Out of this 112,500. the flower of the land, enlisted ; 17,000 have paid the supreme sacrifice, and abort tiO.OOO permanently incapacitated, and the recent epidemic adds another 5.000, making the total 42,000; and, with no immigration, we will he handicapped for a year or so. And does not this also apply to the whole of the Empire? During the second year ot the war, production of man's requirements was reduced materially, and our armies and munition workers had adopted a kigher standard of living, and twice as much used in the shape ol clothing, bx)ts, ..leat, butter, cheese, etc., etc.. which thousands upon thousan Is unfortunately ware never accustomed to prior to the war, and at tli9 time tba prices of those commodities were not a burden to the soldier and the munition workers as in th 1 * first instance the soldier didn't pay for them, and the munition workers didn t feel them owing to the enormous wages paid. Now the war has ceased the soldier is seel'ing employment and the munition worker's waajee, for argument sake are down to about :55 per cent over pre-war rates, with his requirements about 50 to (>0 per cent higlit-r, owing to the world's shortage and with & desire to live at the same status as during the war. The Empire's wheels of iadustry (with a tired people) are at a reduced speed for the want of raw materi il, and the products of the land are about two years behind, and until they get back to normal, and with huge shortages as at present, the pinch will be felt. The workers rightly demand a higher standard of living, which creates a heaver demand on production, and until it is overtaken, with the Continent on the verge of starvation, how can prices recede. If they do, wages must also, in a 'ine with Japan and other Eastern countries. This is a complex question. Profits are now taxed 7s 6d in the £. For instance, an industrial concern with a working capital of £IOO,OOO, paying 7 per cent., yielding £7,000, is taxed 7s 6d in the £, which brings its earning power down to about 4 1 /z percent. Who would be worried about industry when War Bonds are paying per cent., free from taxation? This is the question to be considered for the salvation of the Dominion. Champion wishes his people to understand that this essay is not for advertising purposes, but to guide his candidates, as he is an acknowledged authority on economics as well as muscle-raising. V., AUCKLAND.

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