BOARD OF TRADE

Grey River Argus, 23 October 1915, Page 2

BOARD OF TRADE

ESTABLISHMENT CRITICISED

REPLY BY SIR JOSEPH WARD

Since the close of the session a certain amount of adverse criticism lias oecn levelled at the scheme for the es_ tablishment of a Board of Trade to examine the problem of increased prices. The Board is to be created under the Cost of Living Act, which was introduced by Sir Joseph Ward in the House of Eepresentatives, aim some people appear to be under the impression that the consumers are not goingto be benefited at all by this legisla-

Referring to this subject the Minister of Finance said he was fully aware of the nature and extent of the difficulty that was confronting thousands of people of limited and modest means, and he felt very sincere sympathy with, the sufferers. "But, '''he explained, "the Government cannot remedy the trouble by a wave of the. hand or stroke of the pen. There are economic pioblenis involved in the situation thai cannot bo settled in that simple fashion laut the Government is doing its utmost to secure relief for the consumers, par. tie ula rly for those consumers who under normal conditions have to be content with little more than tlie bare ne'.essities of Hie.. ■ • • "The Cost of Living Act of last session was designed to give full effect to tlie Commercial Trusts Act of 1910, a„a the Regulation of Trade and Commerce Act of 1914, and to clear up several points which were not made quite plain hy those measures. Many people, in liticising the Act, appear to have ov■rlooked the fact that it had to be read with the law already on the »Sfatute Book; It sets up a Board of Trade consisting of the Minister of Indus, tries and Commerce, and three paid members who will devote all their time to the duties of their office. No doubtcapable men with wide experience and entirely freed from other interests, will be selected, and with their assistance the Minister will make representations the Government that can be put in operation at once. The whole machinery for the regulation of prices is now provided, and it will be set in motion directly the paid members of the Board are appointed. "I believe the Board will do excellent work, and will afford all the relief that can possibly be afforded to consumers; at any rate it will stop them from being exploited bj r greedy tradesmen. The cost of imported goods cannot be regulated here. If the prices of tea and cocoa and cottons aud other things have gone up in the countries where they are produced we can't insist upon, the importers selling them in New Zealand at a loss, but wo can see that no one makes more than a fair profit. Tho penalty for any breach of the law Jiiay be as much as £500, and the tradesman who risks having to pay this amount need expect no mercy "when he is caught. The administration of the law that I had the satisfaction o£ placing on the Statute Book this session is riot in my hands, but I am sure tho Prime Minister, who will be president of the Board, is as much in earnest about the matter as I am, and thathe will take care that swift retributionfollows on the heels of evil-doers." ' Applications are being invited forthe rhf'op paid positions on the Board of Trade, and it is expected that pracI tical men connected with the Civil Service will be appointed. .