Cause and Effect.
.-vvii \** ■■- * -■ ;-i •■'." ; That land l speculation is the true cause of industrial depression is clearly evident. 1 lii ! each period of industrial activity land values have steadily risen, culminating m speculation which carried them up m great jumps. Tbis~has been invariably followed by a partial cessation of production, and its correlative, a cessation of effective demand (dull trade) generally accompanied by a comi mercial crash, and then has succeeded a 'period of comparative stagnation, during ■which the equilibrium has been again slowly established, and the same round been run again.
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https://paperspast.natlib.govt.nz/newspapers/MS18830817.2.34
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Manawatu Standard, Volume 4, Issue 217, 17 August 1883, Page 3
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93Cause and Effect. Manawatu Standard, Volume 4, Issue 217, 17 August 1883, Page 3
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