ENEMY CAPITAL

Dominion, Volume 10, Issue 2888, 28 September 1916, Page 6

ENEMY CAPITAL

AND CERTAIN SHIPPING LINES. At tho meeting of ; the Wellington Harbour Board last night, Mr. J. G. Cobbo asked the chairman whether his attention had been called to the statement made in the British House of Commons that German capital was invested in shipping companies trading to New Zealand. He suggested that the board should largely increase the port dues to be paid'by ships reputed to belong wholly or in part to alien enemies. Ho had heard of two companies sending ships here which were backed by German capital. Member's: Names? Mr. Sinclair: Well, the Luckenbach Line is one. ?

Mr. Fletcher said that while he would very much like to support what Mr. Cobbe proposed, he did not think the Harbours Act gave boards power to differentiate against particular ships in the matter of dues. Mr. Hindmarsh: It is a matter for legislation. Mr. Danicll said his attention had not been drawn to the statement, but ho believed the statement to bo a fact. He believed . that the international money ring was doing to become a very big thing to deal with.in New Zealand and elsewhere. The dominating influence of capital, held in few hands, was a grave menace, and the shipping ring afforded a ready instance of the power of that domination. As New Zealanders w,o should have- to look to the time when we should not only produce our exports, but carry them Home in our own ships. (Hoar, hear.) This was tho only way to free ourselves from tho threatened domination of capital. As to the second part of the- question, he did .not think the board had power to discriminate I in tho manner suggested. Mr. Cobbe said that at next meeting ho would probably move a recommendation to be passed on to the Government. There was no special urgency, as Parliament was not now in session.