"FARMERS BETTER OFF"
INDEX FIGURES ANALYSED
Speaking at the New Zealand manufacturers', conference the newly-elected Dominion president, Mr. D. Henry, said that an interesting point was disclosed by the recent Budget statement in which was eiven a comparison of index figures in connection with farmers' expenditure and income.
Taking the year 1929 at index-figure 100, it was officially stated that by 1934 the relative figures had become: Farm costs 70, prices 60, volume of production 126, farm income 76.
This meant, said Mr. Henry, that, taking the farming industry as a whole, farming costs had been reduced to 70 per cent, of their pre-slump level. True, the prices realised for farm produce had declined even further (down to CO per cent.); but this had been more than compensated by the increase in the volume of production (126 per cent.). In the upshot, the costs of forming were down to 70 per cent., while the gross income from farming was down only to 76 per cent., of what each lmd been before the slump. Thus it appeared that the farmers, as a whole, were actually better off in 1934 than they were in 1929.
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Bibliographic details
Evening Post, Volume CXX, Issue 125, 22 November 1935, Page 10
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193"FARMERS BETTER OFF" Evening Post, Volume CXX, Issue 125, 22 November 1935, Page 10
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