THE BASIC WAGE

New Zealand Herald, Volume LXXIII, Issue 22489, 5 August 1936, Page 9

THE BASIC WAGE

STABILISATION URGED MARGIN NEEDED FOR SKILL SYDNEY ECONOMIST'S VIEWS That tho basic wage should be stablised, and not varied for small changes in the cost of living, was the opinion expressed by Dr. E. Walker, lecturer in economics at Sydney University, in evidence before the Iloval Commission on monetary and banking systems, which sat in Sydney recently. Ho stated that more flexibility was needed in margins for skill and other differential wages of that type. Dr. Walker said that a general fall in prices was usually due primarily to a fall in incomes associated with reduced wages or increased unemployment. While falling prices intensified a depression by reducing the value of stocks of goods and discouraging their production, tho fall in prices was as much an effect of depression as a cause. "Our system of wage-fixing, which varies the basic wage according to changes in tho price level of goods at retail and housing," said Dr. Walker, "makes tho price level less stable than it would bo in a system in which money wages were not susceptible to the variation. "I would consider it altogether hopeless, and indeed dangerous, to take some particular price index number such as the wholesale or cost of living index numbers, and to endeavour to stabilise it purely by central bank action. My view is that, far from seeking to stabilise prices in tho hope* that this might alleviate depressions, wo should stabilise wages and employment as far as possible. This would bring with it a comparative stability of prices." Dr. Walker added that in tho last two years or so recovery had been proceeding rapidly, and it was generally agreed that by the end of 1936 unemployment would have fallen to the minimum level possible under the present conditions of industry. In New South Wales there would still be 50,000 unemployed, but these would consist chiefly of elderly workers, young workers who had received no training in any special trade, workers stranded in some district or occupation which no longer required so much labour, and, finally, unskilled labour and unemployables. THE CITY MARKETS PINEAPPLES IN DEMAND CAULIFLOWER PRICES HIGHER A fresh shipment of Queensland pineapples, which arrived by tho Marama, j met with a fairly keen demand at the I City Markets yesterday. Plentiful supj plies of apples and Island oranges were | available and in both cases the sales | were slow. There was a fair demand for choice quality lemons and locally-grown grapefruit, while pears, tree tomatoes and hothouse tomatoes met with a moderate inquiry. The first shipment of Californian grapes for the season is expected to arrive by the Mariposa on Friday. Cauliflowers were again available in fair supplies, but the prices were much | higher than those ruling last week. Cabbages, carrots and beetroot also advanced in price, while there wns keen competition for choice quality pumpkins, which were in short supply. There was a keen demand for poultry, which was marketed in only moderate supplies, but last week's rates remained unaltered. Both hen and duck eggs wore Id lower, but there was no change in tho prices paid for farmers' butter. Values were:— FRUIT Apples, Delicious, 'Js Gd to 4s a case; Ballarat, (Js to 8s; Dougherty, 4s to ss; Granny Smith, <is to 8s; Jonathan, Gs (id to bs; Munro, 4s to 5s Od; Statesman, Gs; Sturmer, f>s to 7« (id; Winesap, . r >s to Ss (id; pears, Koiffers, 4s to Os (id; Peter Harry, 4s to OS; Winter Coles and Winter Nelis. (is to Ha; tomatoes, hothouse, (id to Is 3d per lb; tree tomatoes, new black, (is to (is (id a case, yellow, 4s to 6s; oranges, Cook Islands, 15s to 'JOs a case; grapefruit, New Zealand, extra choice, Cs to 8s; others, 3s to ss; lemons, choice, cured, 7s (id to l)s (id; others, 3s to Os (id; bananas, ripe, l-'s to 19s; grapes, hothouse, Coleman, Is !)d to 3s per lb; passion fruit, 30s to JSs a case. FIELD FRODUCE Beet, Gd to Is 4d a dozen; celery, cooking. 4d to 9d a bundle; dessert. Is to t>s (id; carrots, t)d to Js -Id a dozen; cauliflower, 3s to 7s a sack; on benches. Is to 'Js a dozen; cabbages, is to 7s a sack; on benches, !)d to Is Ud a dozen; cucumbers, hothouse, 3s to 4s t)d a dozen; French beans, hothouse, Is to Is fid a lb; kuniaras, Island, 1-ls per cwt; Tauranga, 5s (id to (is t)d a bag; leeks, i)d to Is Id a dozen; lettuce, '2s to 8s a case; marrows, "Js to 3s (id a dozen; onions, •2s (id to 3s 51(1 per bag; potatoes, Southern, 7s (id to 8s per cwt; Ohakune, 4s to 7s a bag; pumpkins, choice, Triumblo, 8s to 15s a sack; ordinary, ts to 7s; parsnips, (id to lOd a dozen; radish, !>d to Is (id; rhubarb, 3s to 4s (id; spinach, 8d to Is 9d; spring onions, Sd to Is (id a bundle; swedes, Is Od to 2s Gd a bag; turnips, 3d a dozen. POULTRY Cockcrols, heavy breeds, prime, 4s (id to Or ltd each; not prime, 2s (id up; light breeds, prime, 3s to ss; not prime, 2s up; fat roosters, heavy breeds, 'is (id to 3s Gd; light. <>.s to "s (id; fat liens, heavy breeds, 3s to 4s 3d; light, 2s to 3s; pullets, heavy breeds, best 4s to 4s Gd; smaller, Is (id up; light, best, 3s 0(1 to 1s (id; smaller, TS Od up; drakes, young, prime, 3s to 4s (id; smaller, 1s (id up; old, 1s Od to 2s (id; ducks, young, <>s Od to 3s Od; old. Is Gd to 2s (id; guinea fowls, 3s (Id to 4s Od. FARMERS' BUTTER Eggs, hen, first grade, Is 3Vad a dozen; B grade. Is 2M,d; C grade, llVid; duck, first grade, Is 3V J d a dozen; B grade Is 2V,d; (! grade, Is O'/jl; butter, farmers. Is OVad to Js 2'/id per lb. TALLOW MARKET QUIET FIRM TONE IN APPLES Tho Department of Agriculture has received tho following cablegram, dated August 2, from the High Commissioner for New Zealand, London: — Tallow.—Tho market continues quiet, with values nominally unchanged. Hemp.—ln the manila market Japanese and American buying at source. "K" grade for August-October shipment, J. 22. The sisal market is quiet and easier. July-September shipment sold at £26. January-March shipment at i; 26 ss. in tho New Zealand market there is nothing to report. Values nominally are unchanged. Apples.—Tho market is firm for reds. Heavy arrivals of Australian Stunners iu variable condition are prejudicing the market. Prices are: —Stunners, Home lieauty, Ballarat, 7s to 9s; Delicious, Ss to 9s Gd; Krimley Beauty, Statesman, 8s to lUs; Kokewood, Tusipa, Yates, 9s to lis; Dougherty, 10s to los; Granny Smith, 10s to 14s. Peas. —The Maples market is quiet and small business has been done. "A" grade Tasmanian afloat sold at 575, according to sample, 525. New Zealand: According to sample, July-August shipment sold 44s to 535, according to quality. No. 1 August shipment offered 545. Buyers aro not interested. Blues: Tasmanian arc not. in the market. Good business has been done in Danubian and Polish small blues at £8 5s to £9 ss. Casein. —The market is firm on short supplies. Current prices are:—French and ixgentine lactic, £46 to £49,