CHEAP MONEY POLICY
* Effect on Unemployment (Received May 7, 5 p.m.) (British Official Wireless.) Rugby, May 6. A question in the House of Commons gave the Chancellor of the Exchequer. Mr. Neville Chamberlain, his second opportunity in the last few days to state his view on the effects of a cheap money policy both on prices and on employment. He said he had them under constant observation. Since the cheap money policy was initiated in the middle of 1932 the cost of living had risen by 6 per cent., and the numbers of 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 tlie 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 the general economic activity and prosperity. ______
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Dominion, Volume 30, Issue 190, 8 May 1937, Page 11
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157CHEAP MONEY POLICY Dominion, Volume 30, Issue 190, 8 May 1937, Page 11
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