march memories / 31


31st March, 1932 : There seems to be no end in sight to the rapid decline of the New Zealand economy. A commission on the matter has recommended a cut in expenditure this year of £2,900,000. Hospitals and pensioners are among those to lose money. Unemployment now stands at 45,000, and many more have not yet registered. National production has dropped 30 per cent since 1928-29 and outlook for the coming year is grim. Schemes to get unemployed men working as extra hands on the land to help boost output are being tested.

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