1939 £ Worth 11̕8 Today
CHRISTCHURCH, Fri. (Sp.) “Honest money should be the foundation of the country’s economy,” said Mr S. G. Holland, in his address last night, “but today the ever-falling purchasing power of money is on everyone's lips. "Mr Nash, speaking at Auckland in March of this year, admitted that there was £106.000.000, or 83 per cent, more money in circulation in 191 G than in 1939, and 25 per cent less goods for the people to buy.” The effect of this inflation, according to the figures of the Government statistician, was that £1 today bought what 11/8 would have bought in 1939 or it took £l/14/4 today to buy what £1 would have bought in 1939. Thus the age benefit of £2/10/was today actually worth only 29/-.
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Northern Advocate, 28 October 1949, Page 2
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1291939 £ Worth 11̕8 Today Northern Advocate, 28 October 1949, Page 2
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