COST OF LIVING.

Taihape Daily Times, Volume XI, Issue 3517, 1 July 1920, Page 2

COST OF LIVING.

CURTAILMENT OF CREDITS. CAUSE A DECLINE IN PRICES. A Napier firm recently received a circular Jotter from a large wholesale house doing business in all parts of the world and included in the letter was the following copy of a telegram received from the London house of the company': "Prices slight easing by merchants owing to banks curtailing credits, otherwise prices holding. Think top. reached. Expect gradual fall after December." Whatever the actual position is with regard to high prices there is no doubt (says the Telegraph) that both the business community and the general public will welcome a change for the better, and the above cable certainly suggests that further rises (in tailoring goods) are not expected. In explaining the present day indications the firm concerned state. "The woollen manufacturers have orders ori hand which will take two years to complete and makers are no! likely to cancel signed orders at profitable prices. Warehouse stocks are almosl nil and retailers' shelves are empty Russia has not yet recommended operating at the wool sales. although there are indications that Russia, will soon be buying on the. British market again." The circular proceeds to warn the trade , against purchasing from the fair amount of shoddy and indifferent lines which will be offering in the near future. The advice concludes, "Whilst we welcome the turn which the market seems likely to take, we have placed the foregoing views and fjiets before you so-that you may realise it will be fifteen months or more before any change can be reflcct,,.i h, »>•• Zealand, and even then the change will be gradual."