BOARD OF TRADE.

Ashburton Guardian, Volume XXXV, Issue 8274, 20 October 1915, Page 3

BOARD OF TRADE.

October 20 October 21 October 22 October 23 Octobe

(Per Press Association). WELLINGTON, October 19. Since the close of . the session a certain amount of adverse criticism has been levelled at 'the. .scheme for the establishment of a Board of Trade to examine the problem of increased prices. The Board is to be created under the Cost of Living Act, which. was introduced by Sir Joseph Ward in tlio House of Representatives, and some people appear to be under the I impression that the consumers are not going to be benefited at all by this i legislation.

Referring to the subject to-day, the Minister of Finance said he was fully aware of the nature and extent of the difficulty that was confronting thousands of people of limited and modest means, and he felt very sincere sympathy with the sufferers?. " But,"' ho explained, " the Government cannot remedy the trouble by a wave of the hand or a stroke of the pen. There are economic problems involved in the situation that cannot be settled in that simple fashion, but the Government is doing its utmost to secure relief for the consumers, particularly for those consumers who, under normal conditions, have to be content with little more than the bare necessaries of life.

"The Cost of Living Act of last session was designed to give full effect, to tho Commercial Trusts Act of iwiO, and the Regulation of Trade and .Com.nierce Act of 1914, and to clear up several points which were not made t quite plain by those measures. Many people, in criticising the Act, appear to have overlooked the fact that it had to be read with the law already on tho Statute Book. It sets up a Board of Trade consisting of the Minister of Industries and Commerce and three paid members, who will devote all their time to the duties of their office. No doubt capable men with wide experience and entirely free from other interests will be selected, and with their assistance the Minister will make representations to the Government that can be put in operation at once. The whole machinery for tho regulation of prices is now provided, and it will be set in motion directly the paid members of the Board are appointed.

[ "I believe the Board will do excellent work, and will afford all the relief I that can possibly be afforded to consumers; at any rate, it will stop them from being exploited by greedy tradesmen. The cost of imported goods cannot be regulated here. If the prices j of tea and cocoa and cottons and other things have gone up in the countries where they are produced, we can't insist upon the importers selling them in i New Zealand at a loss, but we can see ( that no one makes more, than a fair profit. The penalty for any breach of jthe law may be as much as £500, and | i the tradesman who risks having to pay , I this amount need expect no _mercy I when he is caught. The administration of the law that I had the satisfaction of placing on the Statute Book this session is. not in my hands, but I am sure the Prime Minister, who will be president of the Board, is as much in earnest about the matter as I am, and that he will take care that swift retribution follows on the heels of evildoers." .Aprtlicntions arc being invited for the* throe psn'd positions on the Board of Trade, and it is expected that r>i'aftical men connected with the Civil Service will be appointed.