ABUNDANCE AND MONEY

New Zealand Herald, Volume LXX, Issue 21577, 23 August 1933, Page 13

ABUNDANCE AND MONEY

Sir,—With reference to Mr. Bloodtrorth's contention that land costs ' have maintained tho high level 01 manufactured goods, I would point out that land costs also affect the costs ot our export produce. However, mj - reference to the relatively high cost ot manufactured articles was a side-line to my purpose, which was to point out that the present depression is characterised by a large relative rise of industrial wage rates, as compared with farm export prices, and to point out that Mr. Bloodworth's policy of further increasing this disparity would bo in" in the face of the facts. A most interesting statement of tho relation 01 wages to wholesale price levels and unemployment is illustrated by a very striking graph in M. Andre Siegfried s book, "England's Crisis" (published in 15)31). This graph exhibits for the ( United Kingdom for the period mJ--19;30 a striking parallelism between unemployment and the ratio of wages to -f wholesale prices. 1 hopo that our farmers and land owners will be able to appreciate the humour of Mr. Blood- ' worth's statement that land monopoly i 3 the foundation of all monopolies. '?• Agamemnon.