70. The downward (Recession) spiral Farmers incomes fall, they cut costs by employing fewer labourers and cutting back on spending in shops. International prices for wool fall. This signals a general decline in commodity prices. As suppliers/shops incomes fall they also cut costs employing fewer workers and cutting back on spending With most peoples incomes falling less and less is spent, Public & Private Retrenchments continue . Business confidence is low so little is invested in new ventures – people prefer to save their money. (Banks fail) With its tax collections falling the Government also reduces spending , especially in employment and supplies. (Retrenchment) ECONOMIC DEPRESSION
71. Scapegoat Grand scapegoat procession. The Tories and Renegades taking Vogel into the wilderness with all their sins . Cartoon shows G. Fisher giving conflicting election promises, Grey pushing with Atkinson and Bryce pulling a wheel chair into which a goat (i.e. Vogel) is bound. The scene is a path in front of craggy mountains, where vultures are hovering Published in 1887
179. The downward spiral (Recession become a Depression) Farmers incomes fall, they cut costs by employing fewer labourers and cutting Back on spending. International prices for wool fall. This signals a general decline in commodity prices. As suppliers incomes fall they also cut costs employing fewer workers and cutting back on spending With most peoples incomes falling less and less is spent, Public & Private Retrenchments continue. Business confidence is low so little is invested in new ventures – people prefer to save their money. (Banks fail) With its tax collections falling the Government also reduces spending, especially in employment and supplies. (Retrenchment) ECONOMIC DEPRESSION
197. The Settler Government Legislative Council Appointed by the Government. Parliament Members Elected by Voters. There are no Parties until 1890 Governor General Appointed by British Government Bills are introduced to Parliament and are then voted on 3 times, before Being passed on to the Legislative Council which votes on it, before being passed through to the GG for to be signed when it become an Act of Parliament (Law). Bills can be vetoed by either the Legislative Council or by the GG. In 1891 Atkinson stacked the Council with his supporters who then held up many of the Liberal reforms.
By 1853 wool made up 22 per cent of the value of exports, second only to timber (31 per cent). In 1853, 1·1 million pounds of wool, valued at £67,000 were exported; in 1863, 12·6 million pounds; and in 1873, 41·5 million pounds. Exports climbed to 100 million pounds in 1889,