WAGES AND BUYING POWER

New Zealand Herald, Volume LXXII, Issue 22223, 25 September 1935, Page 17

WAGES AND BUYING POWER

Sir, —It would hare been more convincing if " C.H.N." had given a few instances of rising wages concurrent with falling prices. It will not be denied that the cost of all things made with J hands is based on wages. My arithmetic may be at fault, but it seems to me that additions to cost must mean addition to price—unless industry is to be carried on at a loss. Of course, some great invention may permit payment of higher wages to r. few, while putting many out of work. And that is largely the present position. Some are employed at fictitiously high wages, but they have to maintain those out of employment and are themselves no better off, while the whole community suffers. I resent " C.H.N.'s" accusation that I bolster up vested interests in public wrongs, for which he has not the smallest particle of justification. I seek only the truth, let it be popular or unpopular. I am not buying votes or even popularity by advocating stealing from the few and giving to the many. " G. Henry " simply twists my words. I have said that I regard the appropriation of private property in land (or anything else) without compensation as dishonest —plainly put as stealing, and the theories of our friend's prototype as " unscientific, impractical and altogether undesirable." These words were not intended to express a very enthusiastic approval of "G. Henry's" claims! His letter now under discussion is full of mis-statements, but I cannot refute them without entering in a general discussion of " single tax," but this is not the subject under debate. I have plainly shown how the raising of wages does not of itself create purchasing power but merely transfers it from some members of the community to other members. Let it rest at that. E. Earle Yaile.