Food Prices Drop 15 Per Cent in 1930 In the United States

Manawatu Times, Volume LVI, Issue 6519, 7 April 1931, Page 7

Food Prices Drop 15 Per Cent in 1930 In the United States

WASHINGTON, March 9. In the United States costs of living continue to fall ,while abroad business conditions continue little changed save in six countries where improvement is shown. That is t-hc latest record of federal and private business surveys made available here. Treasury experts estimate the March collection of corporate and individual income taxes will be about one-quarter loss than during the same period last year, or a quarterly payment of 421,000,000 dollars, as against 559,000,000. In spite of depression dividends held up well they point out. Retail food prices dropped 15 percent in the United States for-the 12 month period ending January, 1931, a survey by Labour Bureau, Inc., indicates. The Commerce Department finds definite improvement in the domestic business in Canada and the Argentine, and in tho commercial activity of Triidad, Hawaii, Dutch East Indies and the Philippines. Simultaneously, the American section of tho International Chamber of Commerce releases a report prepared by H. C. Mac Loan, American representative of the Paris headquarters, on the Italian situation, in which ho says the economic crisis has placed a severe strain on Italy. The number of unemployed December 31 was 642,000, or an increaso of 57 per cent over the end of 1929. Tho ban on immigration Las been relaxed, salaries and wages have been cut, aud the Fascist regimo is now following this up by seeing that prices are brought down.