PROFITEERING BILL

Dominion, Volume 12, Issue 275, 16 August 1919, Page 7

PROFITEERING BILL

DISCUSSION ON PRICE FIXING _ | _____ <■ X ■ COMMUNITY IN DANGER OF BEING BLED WHITE By Telecraph-Prcfls AjJSOciatlofl-CopTTiffM London, August 13. In "the House of Commons debate on tho Profiteering" Bill, Sir Auckland • Geddes replied to the complaint's that the Bill did not touch wholesalers or speculators. He accepted an amendment empowering the Board, of Trade to investigate prices at all stages. He also accepted ! in principle a'further amendment, to enable the Board of Trade, without waiting for a complaint, to declare a price ' which would yield a reasonable profit, or to fix maximum wholesale and retail prices. . Lord Robert Ccoil said lie was euro Sir Auckland Geddes had accepted the principle contained in the amendment 'by inadvertence. It would revolutionise the w'holo trade of the country.'and place it under the absolute autocratic control of ; local committees. j Sir Donald •Mticlenn declared that the i amendment was rank Socialism, but mud- ' died Socialism which no one understood. Sir Auckland Geddes, replying, 6aid ' i that a scientific examination showed there 'j was reason, to believe that natioi&l and international -combinations existed by ! «'liich tho community was in danger of being- bled wiiite, The Board wnild hava power to fix prices. That power would ■ pot lis to a tribunal which, i wmilM-continue-only for six months. ; ' Sir Gordon' Hewart assured the House j that it-.was only proposed to five this power to the'centrajl authority. i This assurance'eatisfied some members, ; but after further strong speeches, Mr,-. Bonar Law.said that alarm was unjustified. There was no intention to fix maxi' mum'prices generally. That would only . result in supplies disappearing. He was i y/illing to leave tho matter to the free decision of .'t.lie House.' ; -'• Tho-amendmenit was withdrawn in fa,J ' vonr of Sir Gordon Hewarts proposition ; with a promise of a further clause limit* ing the Board of Trade's , power to fis prices, and' the .motion was- carried by ; 132 votes to 9£—Aii(S.-N.Z. Cable Assn.