INDUSTRIAL CONTROL.

Auckland Star, Volume LXVI, Issue 11, 14 January 1935, Page 6

INDUSTRIAL CONTROL.

"C.M.L." savs that currency control is all that is necessary, and suggests that industrial control is a peculiar whim of the Labour party. Socialists and Communist-. Ha.s "C.M.L. ever taken a look around the world to sec what is happening in Britain, for example, under the name of '•planned economy"? Has not President Roosevelt shown that monetary expansion is useless without the enforcement of industrial codes, regulating wages and workinn- hours? Does "C.M.L." consider that industrial control is safe in the hands of huge interlock in"; trusts and combines and that they always show the most tender consideration for the wage-earner and the consumer and that profits arc. a minor consideration? Does he favour price stability or alternate booms and slumps? How is it possible for effective demand to keep pace with productive expansion in huso jumps, as in the U.S.A. under uncontrolled private enterprise? How is lie going to deal with the Hatrys and Krcugers, the crooked company promoters, sharepushers and stock- exchange gamblers? How is he going to prevent the hard-earned savings of those who arc striving for security in old age, sickness and unemployment from vanishing into the pockets of unsound finance? There is only one. way to prevent these things, and that is by the control of industry and investment in the national interest. R. C. SIMMONS.