PRICES OF THE PAST

Poverty Bay Herald, Volume LX, Issue 17977, 3 January 1933, Page 6

PRICES OF THE PAST

FORMER DEPRESSIONS COMPARISON WITH PRESENT Recalling a slump of 30 years ago, a Wairarapa farmer of long experience made interesting observations last Week, in comparing prices of those days with the values ruling during the present period of depression. He stated that in the early days slumps were expected every three years, but later the length of the complete cycle was extended to seven years, and still more recently, economic history had taken even longer 1 to repeat itself. However, past slumps had been of comparatively short duration and had not had such a world-wide scope, so that under the altered conditions it was impossible to forecast the length of the present depression. There did, however, appear to be signs of improvement. ... ... -

Thirty years ago, this informant stated, the price of wool was down to 3|ck The best price for fat lamb and ewes was Bs, and for fat welhers IQs. Rome farmers who secured an advance of 5d per lb. on wool that realised 3|d had to meet the. adverse balance with all the next season’s clip. After about two years conditions began to change rapidly, and wool prices were soon up to Is and improved even further, while values for stock increased all round.