COST OF LIVING

Southland Times, Issue 18843, 8 June 1920, Page 5

COST OF LIVING

PRICES ON THE DOWN GRADE. GENERAL DECLINE IN ENGLAND. By Telegraph.—Press Assn.—Copyright.) (United Service.) LONDON, June 5. The Board of Trade has not yet collated the latest prices in the various trades hut it states that undoubtedly substantial reductions are visible in a number of directions owing to the removal of control reintroducing competition, the deterrent action of the anti-Profitoerlng Act, and the public’s determination not to purchase until prices have been lowered. The banks’ refusal of further advances is making firms anxious to unload stocks accumulated in anticipation of further rises.

Drapery, grocery and boot prices have declined by five to ten per cent. There is a movement among some large houses to' convince manufacturers that their interests coincide and of the necessity for gradually reducing prices in order to avoid a crash.

The Yorkshire Observer, commenting cn the decline in wool prices, warns hesitant oversea? buyers of manufactured goods that Bradford knows how to prevent a disastrous slump though at the same time, desiring a lower level of prices. The Observer adds: “They should realise that it is always within the [tower of vendors of colonial wool to apply the brake. Manufacturers admit that German yarnmakers have begun an invasion of the English market and are underselling local firms. The Germans use tops eombed in France where the plants are producing at full speed cheaply.”

ARGENTINE METHODS.

EXPORT TAX ON WHEAT AND FLOUR.

BUENOS AIRES, June C

Owing to the rise in the price of bread the Chamber passed a bill imposing to the end of November a super tax of four or five peso- respectively on every' hundred kilogrammes of wheat and flour exported. All wheat products pay a super tax of twenty per cent, ad valorem at the time of shipment. Exporters must hand over to the Government 25 per cent, of their wheat and flour whenever the price is increased by sixty per cent, or more. The penalty is a year’s imprisonment and a fine.