TRUSTS AND COMBINES.

Press, Volume LX, Issue 11587, 19 May 1903, Page 6

TRUSTS AND COMBINES.

SO TH* EDITOB Of THK PRESS. Sir, —I have frequently noticed of late th*i Unions d«-o_uce combium ud taitits.

I but it seems to me that the latter are tlie direct result of the former. UniuE_ai. with the assistance of the Legislature, has succeeded in fixing a severe limit -to the I number of hours during which n person may work, the clats of work he may do. and the amount of pay that he muKt re- | ceive. A» a consequence of this, employer." have ben; forced into combining their interests; they no longer compete with tacit otln r, each trade has drawn up it.n own "log," and determined the amount of its own profit. Ihe result ia that tire- conmnnf is called upon to pay prices that cannot be justified. The butcher demands nearly double the price for meat that he paid for the animal alive, and the baker charge- quite twice the price for that was pa.d for the wheat. The price of alt other neee.-satXs* (over which it is po-«-sibl. to a monopoly) have gcite up in iikir propoitluii. h. hao been sai.l ".hat till wealth is tlie ncumul-ued surplus leMik of labour." If so. it foliuws that the jirlic of i.'o.ur deiri;i;iru_ the value of ni.'t.cy, a-< the price ot labour lines, the value of money f_l_s. ami vice vcr-a, for incney in worth just what we can buy for it, and no more. If New Zealand was cut oif from the itst of the world, it would not matter much what local value was placed upon money, providing conditionsMere equal to all, and we all had an equal opportunity of raising prices again.*-, each other. As it is, Unions, Trust's, and Combines would not gain the slightest advantage, if there was not another and larger party, outside their own ranks, who can be, and who are, made to pay. That larger and more numerous party are all these who are engaged iv what may be called exporting industries. The price these persons lecvive us a reward for their labour is decided in a market where competition is keen, and where every country in the world is trying to undersell them. The price of all that this larger party buy is decided in a market, where there is an absence of competition, and where combination names its own reward. Tlie decrease in the value of money, locally, mu't have this further .serious effect. The million we now borrow Ls of less value to us than former borrowed millions were, because less can be obtained for it. It may be that the capitalist realises this, or why did he turn his back on our hist loan, with ii.-» seven por cent, discount, and then, in a few weeks, tuni round and offer to take the Transvaal loan, more than thirty times over, at full value? Can it be that he (the capita!--:) thinks that the money he lends lo New Zealand is wasted and dissipated, while the money he k-nd. to South Africa will lead to a further "accumulation of the surplus results of labour, - ' and so strengthen his security? So far as New Zealand is concerned, the outlook would be disnia. indeed were it not for a remark Mr Seddon let fall at a recent political meeting. The Premier was reported to have said "that whenever a trust or combine popped up its head, he was prepated to chop it off. - ' This is good news indeed. In my mind's eye, I can see the Right Honourable the Premier, in Court knickers, with shirt sleeves rolled up, a scythe in hand, and whetstone in belt, chopping off the heads of trusts and combines, after he has mown them all down. I hope he will turn to and grub these social pest* up by the roots ; (some of the roots run deep, but the hon. gentleman need not fe;ir that in following the loots down, he will eventually find himself in a hole. On the contrary, he will raise for himself a pedestal on which, when 'his work is done, he can take his stand, and be fittingly decorated with a "beautiful white flower," as the emblem of "repentance and atonement." In one sense we are all "Unionists." We are all members of a great Empire, we are ati the loyal subjects of the King; we all strive to obey the laws; we are all taxpayers, and we all have electoral votes. Clearly, then, we should all enjoy equal rights, and an equality of opportunity. What I huve written b> intended to be suggestive, rather than positive, and if I am in error. I hope to ba better instructed by "The Press." My position is so obscure that I need not hesitate to sign my naiiie.—Yours, etc., W. COBB. Tinwald, May 15th, 1903.