SPECULATION CRAZE
EXTENDING AMONG ALL CLASSES INFLUENCE OF HEAVY TAXATION (Rec. April 20, 5.5 p.m.) London, April 19. Mr. Henry Morgan, vice-president of the Society' of Accountants, speaking at Cardiff, said the craze for speculation was extending to every section of the community, particularly women. He added: “I have heard of cases of women selling their jewels to speculate on the Stock Exchange, and several cases of small fortunes being made by a sudden jump in shares. The. principal cause for the speculation is the taxation, .whereby the Government takes by wav of income tax and super tax from 30'to 50 per cent., of a man’s earnings. Naturally, business men hesitate to risk capital in business ventures and prefer to risk speculation, in which the profit is free from taxation. This attitude is far more widespread than .is generally imagined.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19280421.2.87
Bibliographic details
Dominion, Volume 21, Issue 172, 21 April 1928, Page 11
Word Count
140SPECULATION CRAZE Dominion, Volume 21, Issue 172, 21 April 1928, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Dominion. 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.