MONEY MARKET
CHANCELLOR'S COMMENTS
(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 the assumption that cheap money, caused 'speculation. : '•' ' '■■/ In so far as the rise in commoditj' 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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Bibliographic details
Evening Post, Volume CXXIII, Issue 108, 8 May 1937, Page 6
Word Count
152MONEY MARKET Evening Post, Volume CXXIII, Issue 108, 8 May 1937, Page 6
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