PRICES OF THE PAST

Gisborne Times, Volume LXXIII, Issue 11826, 6 January 1933, Page 2

PRICES OF THE PAST

former DEPRESSIONS

COMPARISON WITH PRESENT

Recalling a slump of 30 years ago. a Wairarapa farmer of long experiui comparing prices of those clays cnee made interesting observations, with the values ruling during the present period of depression. He stated that in the early days slumps were expected every three years, but ,ator the length of the complete cycle was extended, to seven rears, and afcijl more recently economic' history, had taken even, longer to repeat itself. However, past slumps had been of comparatively short duration and had not had such a world-wide scope, s o that, under the altered conditions it was impossible to forecast the length of the present depression. There did, appear to he signs of improvement. Thirty years ago, this informant stated, the price of wool was down to 3|a. The best price for fat iamb and ewes was Bs, and for fat wethers 10s. Some farmers who seenred an advance of 5d per lb on wool that realised 31-d had to meet the adverse balance with all the next season’s clip. After about two years conditions began to change rapidly, and wool prices were soon up to Is and improved even further, while lahies for stock increased all round.