THOUGHTS OF THE TIMES.
REDISTRIBUTION OF WEALTH. At the meeting of the Pearl Insurance Company, London the chairman referred to the steady redistribution of capital that has been going on in Great Britain in recent years, largely through the pressure of taxation and other economic movements. An important effect has been to transfer much of the surplus production of capital from the hands of wealthy individuals and corporations to the multitude of wage and salary earners. Because, of this, the chairman of the Pearl considers that the wage earners should he encouraged in every possible way to practise thrft habitg in order to make good the sources of capital formerly provided by others. The remarkable expansion in the sales of National Savings Certificates in recent months and the enormous increase in the sums deposited or invested with building societies appear to show that to some extent, at least the wage and salary earners are carrying out this precept. It is a feature of our economic life that has perhaps received lens attention hitherto than it deserves.
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Hokitika Guardian, 1 May 1931, Page 4
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176THOUGHTS OF THE TIMES. Hokitika Guardian, 1 May 1931, Page 4
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