PROGRESS OF WAIUKU.

Pukekohe & Waiuku Times, Volume 9, Issue 588, 30 November 1920, Page 3

PROGRESS OF WAIUKU.

LAND VALUES-OLD AND NEW. PURCHASING POWER OF MONEY

Addressing a meeting of representatives of local bodies at Waiuku last night, Mr. A. L Hull, secretary of | the Waiuku Farmers' Union branch, | and who was representing its president, said the interests of the farmers and commercials were interwoven to a greater extent than most people realised. Thirty years ago one could lose onesself in Waiuku, and the farmer was having a great struggle for existence. There, was no market for anything but kauri gum. Butter was 5d a pound and disposed of under a system of barter; there was no cash. In regard to the dairy industry, butter and cheese were safe, but the American experience was that dried milk could be overdone, and sugar of milk cost too much to produc#. He knew some land that had risen in value within 35 years from 7s 6d to £145 per acre. Owing to the great decrease in purchasing power the nominal difference was much- greater than the actual. In those old days 7s 6d was of as much purchasing power as £3 now is. i