HARD TIMES AT SEA

Evening Post, Volume CVI, Issue 142, 13 December 1923, Page 7

HARD TIMES AT SEA

P. AND 0. HAS A BAD YEAR

LORD INCHCAPE'S REPORT

WHAT TRADE UNIONS SHOULD DO.

(OHITID MESS ABBOCUTION.—COrTRIdHT.) (KBUTM'I TIUUUK.I (Eeceived 13th* December, 11 a.m.) ' LONDON, 12th December. Addressing the meeting of the Peninsular and Oriental Company, Lord Inchcape said' he regretted that, with a few exceptions, the earnings of every voyage of the P. and 0. eteamers during I the past twelve months had been below the disbursements. The company had been reluctantly compelled to reduce the wages of staffs, and further reductions might be necessary to keep the ships at sea and cover the working charges. He suggested that unemployment might be remedied if the trade unions suspended the regulations in regard to minimum rates of wages, restrictions of hours of labour and output, and gave economic conditions free play for a year or two, so that the costs of production might decrease and world markets would be found for the increased output of British manufactures.

CONTROL OF EMPIRE STATESMEN. Imperial Conferences were undoubtedly valuable to the Empire, but they had a somewhat disturbing influence on domestic affairs. He hoped that when the next Imperial Conference was arranged it would be one lof the conditions that any mention of Imperial preference or tariffs should be rigidly excluded from the discussion. He would not rule out Free Trade within the Empire. But, as most, of the Dominions depended largely upon revenue from high tariffs, he was afraid that for many years this would r»at be o, practical proposition. He believed the different units of the Empire would hold together better if each was left free to carry on in the way that apparently best suited its own conditions. GOVERNMENT COMPETITION. The company had been faced by Government competition in shipping. He wanted to boast, but h e realised that hard times were ahead. Besides the United States Government shipping, there was the legacy left by Mr. W. M. Hughes, whose Government Shipping Department had cost Australia millions that it would never see again. Lord Inchcape said he thought the taxpayer would get tired of businesses conducted on the unsound principle of supplementing deficits from the pockets „ ,? tax Payer- He was confident that all these visions of Governmental commercial enterprises would fade in due time, and the British mercantile marine would enable Britannia to continue to rule the waves.