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(Press. Assn. —
MINISTER COMPARES COSTS WITH PRICES ON 1914 BASIS NEW ZEALAND'S PROBLEM
By Telegraph— Copyright).
INVERCARGILL, Wednes. Speaking at the official opening of the Southland Summer Show to-day, the Hon. Adam Hamilton, Minister of Labour said that for years New Zealand had been compiling statistics to adjust the wage standard to meet the cost of living, but the time had now arrived when New Zealand's great task was to adjust the difference between the export prices which were the farrners' wages, and the cost of farming. The following figures which were the latest he had, were interesting on this point: — 1. The cost of living is 42 per cent above 1914; 2. Wages are 47 per cent above 1914; 3. Farming costs are 57 per cent above 1914: 4. Export prices are 10 per cent below 1914; and 5. British wholesale prices are 7 per cent below 1914. The Minister added that in his judgement there were no figures that stated the position more plainly than these, and it was the adjustment of these figures that was New Zealand's great problem.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 93, 10 December 1931, Page 5
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184GRAPHIC FIGURES Rotorua Morning Post, Volume 1, Issue 93, 10 December 1931, Page 5
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