CHEAP MONEY.
EFFECT ON COMMERCE. British Official Wireless. RUGBY, May 7. The Chancellor of the Exchequer, Mr. Neville Chamberlain, stated in the House of Commons his view on the effects of the cheap money policy, both on prices and employment. He said that since the policy was initiated in the middle of 1932 the cost of living had risen by 6 per cent and unemployed had fallen from 2,900,000 to 1,450,000. The cost of living index and the wholesale price index were both lower than in 1929. ~ Mr. Chamberlain _ said he could not accept the assumption that cheap money caused speculation. Insofar as the rise in commodity prices had been assisted by speculation, he would have regarded the process as incidental to general economic activity and prosperity.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19370508.2.14.2
Bibliographic details
Auckland Star, Volume LXVIII, Issue 108, 8 May 1937, Page 4
Word Count
127CHEAP MONEY. Auckland Star, Volume LXVIII, Issue 108, 8 May 1937, Page 4
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in