INVESTING MONEY.

Dominion, Volume 2, Issue 520, 29 May 1909, Page 12

INVESTING MONEY.

' QUESTION: pfWRAL KESPONSLBILITY. The Convocation of Canterbury has been disoussing; the ; problem; of jnyefting money, and has oome to'the .conclusion that it. is time to recognise moral responsibility in investments. The Bishop'of Birmingham (Dr. Gore) opened the discussion in the . Upper House on a Committee's report; .•' ' : : ■■"•' ' .'• ■' . . Dr/Goro said: ," There wasa very definite ;ohallenge,. very legitimately made at the prosent time by. many thinking men. Those peoplo said: It we are to believe your, claims, in the 'un9een and supernatural sphere :then 'we must 6ee toe-: evidence ■ which is to convince ■ourijconspjences.-in ;the,,rc'gion;jpf.;getting and •and-eelling'. ,, ':.-'• s ..' ■•' whioh' ,: oonßide«d the' eubrject; acdptodatha Jlegltlffllcr.W ta'Mng.. interest for money lent. Their whole point was that a person in lending, capital became a joint sharer in /the enterprise employjng the' capital, and had/a jointirosppnsibiliiyivrheyVore not unmindful of. difficulties in many cases, but; what the committee:asked for was-quite simplo.and would, produce a profound change in the whole economic, world. ' That was :that the Christian in investing money was bound to,.consider not only whether the investment was safe and productive, ; but whether '. the particular business was one in which , he was justified in,.embarking, and whether it was being conducted in a■; manner; whioh would satisfy, his conscience as a part oirner. •Hβ was convinced that in very. large areas of society it was necessary :ito> emphasise.lthe:-moral in a. quite simple form.-;<'Jf .■'•"; fy\, : ',.'.-, ',' ■-~•.■'•■■..". "The committee';wished -to impress on the ..Christian conscience, that, people were bound, in investing .their money to consider/ whether the.enterprise was beneQoial to society, whether it was " something useful, .or something oonducihg to .beauty; or , the grace ofi' life.! Another question. was .'that: of foreign ' loane. .There, were many conspionous. instances in modern; history where' the attitude of a;conntry .to grave political situations, raising questions'of right and*justice.in Route forme, had been"seriously' handicapped by tho faot that a certain foreign loanhnd been, largely takon up in a;certain. country.", /■■ / .■.'. ■ ■•'• ■' The Bishop of .Hereford said it was_ a rooJ .-thing that such a report should go into the hands of the'wealthy, investing, and business classes. Its object: was to encourage the habit of moral thoughtfulness in all, tho responsible affairs .of life, and tho influence of wealth .tended rather against tlie development of moral thoughtfulness.. Nowadays.the tendency was for all business to drift more and- more into the hands of great' companies, and therefore; the daily incentive to consider ono's responsibility was being.lost... In dealing with the responsibility of landlords, the Bishop of Hereford saidhe did'n6t 6ee why if a farmer were compelledl to have'his name on his cart.'.the ow- : nef of slum property ..should, not be. obliged to have a plate on each house saying who was the owner.- That simple expedient wonld, hebelieved, do more.'than all their large «ohemes .to improve the worst olaes of alum-property..-The committee recommended the ; Bouse to resolve:."That in view of the widespread neglect of tho moral responsibility involved in investmente, it is desirable that the. Church of England should' at-' the present time speak to its members as deliberately and authoritatively as possible on the linos of Eesolution 49 of the Lambert Conference." This resolution urged on members of the Cliuroh of England praoHeal recognition of the moral' responsibility Involved . in : their investments. t , This. recommendation'was adopted... .-. ■.';■■'■■ '■ ■ -\ In the Lower House a discussion on the Eome subject-'took place, : but ■ the House -referred its report- back; "It , was Socialistic," said, the Archdeacon of Ely, . -'and Socialism: was unChristian."./.■■•■:./■ ■ : .-.!. ■'■■••'■..■•"