HIGH PRICES

Pukekohe & Waiuku Times, Volume 9, Issue 548, 13 July 1920, Page 3

HIGH PRICES

. ♦ AND HOME TRUTHS. . " An American company doing enortaous business, the well-knowM firm of Armour and Co., has the following to say about high prices; and the reasons are applicable to Iview Zealand)— . .v "The reason why prices are high are many—inflated currency; scarcity of staple goods. in Europe; higher wages; reduced output due to interrupted production on account »f Strikes and-shatter hour's; price-fixing by the tluus mtei fox mg with na*uf*k'laws of supply and demand; loss <tt life and a colossal CiAisumption of food, fuel, metais and other industrial n&teriais during the war, together with a wave of unprecedented buying extravagance that has given every opportunity and encouragement towards boosting and profiteering. t "The remedy is obvious, but it fur j from being a popular one. Hard wori; j and economical living—more goods, greater care in consumption, • lesi credit—until these are applied to the maximum, prices will stay up. - v--\ "Legislation or regulation by. Congress is futile. Statute laws never can be made to supersede economic laws. During the war, Governments:; j measures were essential, but r.o price- i fixing will avail to-day in the fac: I of short-limb, production and j people flush wira money demanding j the best of everything at prices no-J matter-what. V, # . v.; j "The fact must be "recognised tfea* I we are on a high-price level, 4ihd ( probably will be for some f'nje" tad \ come. Readjustment is but it must come gradually tp aifjuij plunging the country into panic an':-1 depressions as grievoils as the pre | sent high cost of living." ' v: r • ■■