AGAINST PROFITEERING.

Auckland Star, Volume L, Issue 253, 24 October 1919, Page 6

AGAINST PROFITEERING.

COUNCIL AMENDMENTS. A DRASTIC BILL. <By Telegraph—Special to "Star.") WELLINGTON, Thursday. The House of Representatives to-night decided to accept several amendments made in the Board of Trade Bill by the Legislative Council, but declined to agree to an alteration which provided that both Houses shall pass a resolution necessary to revoke any regulation by Governor-in-Council made on the recommendation of the Board of Trade. Members of the Lower House objected to the nominated Chamber having any veto. Another point of disagreement was in reference to clause 33, containing special provision to prevent profiteering, the Council having introduced a phrase which prevents an averaging system to be applied in assessing reasonable profit. Mr. Holland contended that this was the most sensible thing the Council had done, but Mr. Isitt demonstrated how averaging was a reasonable process where articles were bought at widely differing prices. The Prime Minister expressed the opinion that, except for these two points, the Council had greatly improved the bill, which was drastic, and ought to prevent profiteering. The opinion was expressed by the Premier and several other members that the averaging of prices was apparently a legitimate commercial practice and essential in most businesses.