PRICES OF FOOD.

Auckland Star, Volume XXXVIII, Issue 133, 5 June 1907, Page 3

PRICES OF FOOD.

! PROPOSED STAJE REGULATION. A WELLINGTON VIEW. CBy Telegraph.—Own Correspondent.) WELLINGTON, this day. Discussing the matter with a "Post" j reporter, Mr. Harold Beauchamp. chairman of tie Bank of New Zealand, said that he was distinctly of opinion that no Board of Commerce as suggested by the Hon. Mr Miliar wooM ever be able to satisfactorily adjust or arrange prices, inasmuch as prices are invariably affected try the inexorable la.w of supply and demand. So far as fio-or i≤ concerned, that is an article which is so vital to the well-being ot the people that he would suggest that when that article attained a certain figure, which in the opinion of thoroughly independent parties might be considered excessive, the Government should have the right to remit the duty for the time being, and so let us dray from markets where the same stringent conditions might not oi>ta,in.

"My suggestion," said ilr. Beauchamp, "only refers to abnormal times, when wheat lias fallen into the hands of the speculator, and the farmers and producers are not likely to benefit by the high figures now ruling. The privilege of remitting the duty should be Exercised by the Government only with great circumspection, or the system would be open to abuse. A board should make inquiries and recommendaitions, and on the strength of these the Government should act. :.

A merchant in a large way of business contended that the Government of this country had already gone in for humanities as an experiment in legislation, "and had put history on one side." He held that the price "of lahour fixed the prices of commodities, and the Government had already fixed the price of labour. The Labour party had a monopoly or desired a monopoly in labour. Why, therefore, should not producers and dealers combine? Labour, he concluded, accounted for 80 to 90 per cent, of the prices of goods when the matter was worked down to bedrock.