"We are in for a period resembling more closely the period from 1898 to 1914 than it resembles the period from 1920 to 1931. I certainly believe that we can go through such a period if we really want it. We are no longer tied to the gold and to the policy of the rest of the world. We have a measure of control over our own destiny which we sacrificed in 1925. We are free from what the rest of the world may do —we shall look forward to steadily rising price levels around which fluctuations will take place. We are going through the worst phase, but we are also suffering from that lack of confidence in the future the origin of which is political. We are in for a period of cheap money. Money is cheap for short periods because the savings ot the community have been employed in the right manner for the last decade or more.";—Professor J. H. Jones, M.A., of the University of Leeds.
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https://paperspast.natlib.govt.nz/newspapers/EG19320715.2.28
Bibliographic details
Ellesmere Guardian, Volume LIII, Issue 56, 15 July 1932, Page 6
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169Untitled Ellesmere Guardian, Volume LIII, Issue 56, 15 July 1932, Page 6
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