Wage and Salary Cuts
Sir,—l am a plain num, but I am interested in my country’s wellare. Because of this I should like some correspondent to make reply to the two questions ' i ’ el (l) l "lnasmucli as New Zealand is hard nn like the Motherland, why is it that the bank rate is 7} per ceut -8 per cent, in New Zealand, and only 2} per cent, at Home? Is money cheaper in England, because a Labour Government rules/ Are we Irving to lead the world/ _ ' (2) The Macmillan committee appointed !n 1929. have now presented their report to the Home Parliament dealing with banking, finance, and credits. Tn this report the "experts” state that wage and salary cuts are no remedy for the trade crisis, and same are to be condemned as • practical remedy. . ; , In New Zealand we think to the contrary. and’we reason that if salaries and wages are reduced the people will have more to spend, and trade will boom. Ihe banks the Welfare League, and the legal men all say so; Who, then, are we to believe —the experts at Home or the experts In New Zealand? I am really puzzled!— I am, etc., INTERESTED, Hastings, June 17.
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Bibliographic details
Dominion, Volume 24, Issue 231, 26 June 1931, Page 11
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203Wage and Salary Cuts Dominion, Volume 24, Issue 231, 26 June 1931, Page 11
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