PRODUCTION COSTS.
LOWERING AID TO RECOVERY.
May 6. It has become known that informal discussions occurred at the House of Commons between Mr. Montagu Norman, governor of the Bank of England, and a group of Labour members, who expressed the opinion that the remedy for the present economic depression lay in central banking action, aimed at the restoration of price levels. Mr. Norman is understood to have denied that there was any royal road to prosperity via currency regulation, and that banking circles held that the main hope lay in a reduction in. manufacturing costs, not only in the basic rindustrfes, but in the more prosperous trades, particularly in the sheltered industries, which hitherto had resisted the depression. In. these coste were included the soarifltr overhead charges and high taxation.
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Auckland Star, Volume LXII, Issue 106, 7 May 1931, Page 7
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130PRODUCTION COSTS. Auckland Star, Volume LXII, Issue 106, 7 May 1931, Page 7
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