STILL SHRINKING.

Taranaki Daily News, 11 March 1916, Page 7

STILL SHRINKING.

VALUE" O? A SOVEREIGN. The shrinking value of the sovereign is graphically illustrated in a tabic published with the Government Statistician's report in the Labor Journal. The table shows the value of the sovereign considered with regard to the commodities it would purchase, taking the quantities which could be purchased in the years 1909-13 as a base. In some cases there was a greater decrease thnu in others. The particulars nre: Groceries (value of sovereign which would purchase goods worth 20s in >the base year)-.—December quarter, 1914. 18s C%d: December. 1015, 10s sd. Dairy produce: December, 1914, 19s Sd: De-c-ember. 1915, 17s Meat: December. 1914, 16s 4VL.d; December. 1915. 15s 0y t d. The average of the three food groups was as follows: s, d. 1909-13 tt...... 20 O December, 1914- 17 3% March, 1015 Ifi Wi June, 1915 Hi 9 September, 1915 16 7% December, 1915 ......... 16 1% This table is an average for the Dominion, obtained by "weighting" the returns of twenty-five representative towns. In certain places the shrinkage of the sovereign is more marked. The cost of living barometer shows Wellington still far above all other towns. In December, 1915, Wellington's positions is represented by the number 1263, while the next town, Taihape, is 1181, 182 points, or almost 18 per cent, lower. On the ligu r es given a weekly wage of £8 over the years 1909-13 is now worth only £2 Ss 3%d. This is without considering rent. In Wellington, where rents are a most important factor, and where tliey have risen in the past five years, the real as distinguished from the money wage would be much Use.