THE SOVEREIGN.

Taranaki Daily News, 12 November 1917, Page 2

THE SOVEREIGN.

ITS DECREASING PURCHASING POWER.

The decreasing purchasing power of the sovereign (a coin that is now almost as rare as moa bones), is merely another phrase to signify the increased cost of living, says the Dominion. Aocording to the latest investigation by th« Government Statistician the sovereign is getting appreciably less in value each quarter. In the September quarter of 1016 it took 26s OJ to purchase in Wellington what could have been purchased for 20s in the average of the four centres in 1909-13. In the December quarter the sum had risen to 26s 31d; in the March quarter, 1017, to 27s 5%tl ; in June, to 27s 10% d; and in September, to 27s 11 %d. Less can be purchased with a sovereign in Rotorua than any other of the 25 representative towns in New Zealand that are tabulated. There, in that Government-owned and Tun town, what could in 1913 be bought for £1 now costs 29s 4%d. Dunedin is in the most enviable position, for there it only takes 6* 6d more now to buy goods which in 1913 could have been purchased for £l. The following table shows the relative worth in terms of commodities (but stated for convenience in terms of money), represented by a sovereign, during the years 1915 and 1916, and the first three quarters of 1917, taking the average worth in the years 1909-13 as base, 20s: Gro. Dairy. Quarter ending, ceries. produce. Meat.

s d s d g d March, 1915 . 16 «i 18 21 16 51 Juno, 191-5 ... 16 73 16 6 17 1 Sept., 1915 ... 16 7i 17 U 16 41 Dec., 1915 ... 10 5 17 75 15 01 Mareli, 1916 . ■10 64 16 10} 15 12 June, 1910 ... 10 10J 15 Oi 15 Oi Sept.. 1916 ... 16 6 15 4 14 91 Dec., 1910 ... . 15 8? 15 S 13 8 Mareli, 1917 .. 15 2| 15 3 14 0? June. 1917 ... 15 8 14 H 13 114 Sept., 1917 .. 15 5 14 n 13 8