WHEAT AND WORLD PRICE LEVELS.

Taranaki Daily News, 25 August 1931, Page 13

WHEAT AND WORLD PRICE LEVELS.

(To the Editor).

Sir, —If "Carbon” looks up the history of world prices he will find that under the influence of the Californian and Australian gold discoveries, and later the Transvaal, world price levels rpse from 20 to- 30 per cent., and the result of the two former was to arrest, a world fall in values of 30 years’ duration. The only portion of bis letter which has any direct bearing upon the subject under discussion is to be found in ■ its concluding paragraph. According to “Carbon,” in 1496 wheat'was 14d per bushel, eggs four for Id, beer a gallon, beef id a pound, pigs Id each. If his figures are correct wheat values work- out some-

thing like this: It took 560 eggs, 321 b beef, 32 gallons of beer and 4 pigs to equal four buahels of wheat. In 1931, w’ith wheat still at 14d per bushel (in Australia) it takes 12 eggs,- 21b beef, 2J pints of beer and 4 pigs’ trotters, without the pigs, to equal four bushels of wheat. Now, the first link in a chain, depends upon which end of the chain, you commence at, and if the above figures (“Carbon’s own) do not prove to him that . all commodity values move inversely to wheat values, will he kindly tell me this: Comparing the year 1496 | with 1931, has the cost of living risen or fallen? —I am, etc.,

FRANK BELL.

Midhirst.