COST OF LIVING

Taranaki Daily News, Volume LIV, Issue 310, 27 June 1912, Page 5

COST OF LIVING

THE PRODUCTION OF GOLD. By Telegraph—Press Association. Auckland, Wednesday. Giving evidence before the Cost of Living Commission, Professor Segar expressed fie opinion that the increased cost of living was mainly due to the great inon-ase in the currency of the world as compared with the increase in trades and commerce. The chief factor in currency was the gold output, which had increased during the last twenty years._ .The extension of banking facilities and the increased use of them resulted in a considerable and economic use of the rapidly growing stock of money. Probably we were nearly approaching the time when the output of gold would reach its maximum, but, even when it began to diminish, we were not in consequence to expect diminished prices. Prices depended really on the quantity of gold in circulation, relative to other matters.

THE SIMPLE LIFE. Auckland, Last Night. At the Cost of Living Commission Alexander Caughey, of Smith and Caughey, drapers, said that so far as New Zealand goods were concerned the profits derivable had decreased. Better goods were being sold, people not being satisfied with goods that they were content with ten years ago. He did not say that this was not good economy, as the goods lasted better. The cost of dvaperj to sellers had increased considerably. Witness said that the most important cause of the increased cost of living was that civilisation was not content to live the simple life.