The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, MARCH 26, 1927. PEACE AND PROSPERITY IN INDUSTRY.

Hokitika Guardian, 26 March 1927, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, MARCH 26, 1927. PEACE AND PROSPERITY IN INDUSTRY.

Wini.F, the desire for peace and good I will in industry was never more pronounced than it is to-day, and while much useful discussion on this sub- ] ject characterised the sessions of the I International Labour Conference held under the auspices of the League of Nations’ Union in London lately, it remains to be seen, says the Council Journal, how far the various suggestions nut forward will improve the industrial position in Great Britain. The problems of industry will call for the five years’ truce, but it is to be hoped that in the meantime, and during that pacific period so much desired, all concerned with the welfare of our trade and industry, including the leading bankers, will apply themselves, with unprejudiced minds, to the solution of the various difficulties, with a view to the good of all. and not the interests of any particular section at the expense of any other section of trade or industry. So far as industry itself is concerned, much useful work has, of course, been done by the Industrial Court in the settlement of disputes between employer and employed. At the same time, however, a fact stated at the above-mentioned conference must not be overlooked—viz. that there is a tendency in industrial arbitration proceedings for the decisions to be rather in the nature of a compromise based on expediency, as the arbitrator sees it. This is a very unsound policy from the point of view of permanent peace and goodwill, for in some measure at least the root causes of the dispute remain. A much more practical means to peace—as. indeed, was pointed out—would be that of regular monthly meetings between representatives of the associations of employers and employed, at which the general condition of the industry could be discussed and financial returns considered, and also to reach industry to study scientifically in joint session problems affecting output. Output, of . course,

is a. very material factor in the consideration of wage problems, and emphasises once again, the theory upon which there is a growing and general agreement—the need for increased and mass production Obviously, one of tlio first steps to this end must be confidence that hotli sides in industry aie getting their fair share of wealth produced. and that the price to the consumer is as low as possible. lor long past the theory lias boon accepted that it is not the efficiency of labour, but rather flic price which the products ot labour will command on tlio market, which should lie the fundamental factor determining wages, hut events in. and the pavilion of British trade and industry to-day, call in serious questions, economic principles which wo have been mono to accept. A\ itbout-

wishing to enter into a discussion on the merits or demerits of the present system, the fact that there is general agreement upon the necessity for greater nroduetiou points the way out. It seems self-evident that by means of quantify production—lot, which, of course, the banks could play a most important, part in regard to credit facilities -ami by a nroper balance of the divisions and sub-divisions of labour. the cost of living would he cheapened and people would he in a position to purchase commodities which today they are unable to afford. ’this principle can ho applied both io the home, and foreign market, and d-omou-strates that the value of labour, and, therefore, the wage Hint it merits is detenuilied hy the efficiency’ of the service it renders, and increased service to the community should obviously firing increased wages. Unless there is growing recognition of this basic fact, and an appreciation of the various means which will make for its attainment. and until there is a lowering of distributing costs, it may be doubted whether much permanent good will resut from discussions of tlio nature already referred to. The problem of increased or quantity production is admitted as fundamental T.ot all parties that can assist industry apply themselves to the task of promoting production to the fullest economic capacity of tlio country, for. after all, this is the true indication of the material wealth of any nation.