COST OF LIVING LOWER.
AN AUSTRALIAN'S EXPERIENCE
(By Telegraph.—Press Association.)
WELLINGTON, Monday.
"But for the increased rate of exchange, farmers and pastoralists in Australia would not have been able to carry on," said Mr. H. J. Lambert, editor of the "West Australian," who arrived by the Maunganui from Sydney to-day.
Generally speaking, he said, people in Australia' accepted the increased rate philosophically, because they recognised that it was a natural rate. High exchange checked imports for a time and importers lived on the goods they had bought prior to the rise. Now the accumulated stocks had been used and imports had increased.
Contrary to general expectation, the retail price of goods did not go up when the exchange rose. The cost of living had consistently fallen. When England went off the gold standard people there expected prices to rise, but that did not eventuate.
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Auckland Star, Volume LXIV, Issue 19, 24 January 1933, Page 5
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144COST OF LIVING LOWER. Auckland Star, Volume LXIV, Issue 19, 24 January 1933, Page 5
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