GOLD AND PRICES
“The present fall in prices is not connected with any change in gold, hut is the result of an adjustment to the gold standard. The standard is practically the same as before the war. Prii C-; wore raised above the standard by the war, and are now going through the process of adjustment to that standard. The change which took place was in tile cost of commodities other than gold and the rise in money wages (not the standard nf living). During tlip war the number of persons employed in industry (including the lighting forces) was increased to the last woman and the last man. Production on the other liana was reduced. No houses were built, not enough food grown, vorv little clothing and hardly any furniture was made. The increase in the prod'imUon made the cost of every commodity nearly double. Praetieallv the whole change in price is accounted for without any reference to gold whatever.”—Mr C. Neill, viee-orosident of the Roval Bank of Canada.
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Bibliographic details
Hokitika Guardian, 4 May 1931, Page 7
Word Count
169GOLD AND PRICES Hokitika Guardian, 4 May 1931, Page 7
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