British Public Robbed by Speculators

Manawatu Times, Volume 66, Issue 103, 2 May 1941, Page 7

British Public Robbed by Speculators

Goods Change Ownership Many Times « FOOD MINISTRY CRITICISED Received Thursday, 7.15 p.m. LONDON, April 30. Evidence that the public is being robbed by speculators who traffic profitably in foods in short supply was revealed by Sir Douglas McCraith, chairman of the Food Price Investigation Committee of the north Midland region. “Speculation is rampant and goods are changing ownership many times, like stocks and shares, without even leaving the warehouse,” he said. “People who do not render service in distribution are enriching themselves at the expense of the consumer. Prices to the public have risen out of all reasonable proportion and have contributed considerably to the increase in the cost of living, with inevitable discontent.” Sir Douglas McCraith quoted the case of a dozen cans of soup supplied by a manufacturer at 78 pence, which, after passing through the hands of seven middlemen were retailed at 14s 6d. One middleman appeared twice in the transactions, buying and selling the same soup each time profitably. Sir Douglas also quoted an instance of canned marmalade being sold by the importer at 84d. a tin, which, after passing through the hands of three middlemen, was retailed at 3s 6d a tin.

Members of the Commons to-day-accused the Food Ministry of belated action and inattention to rocketing prices, mishandling voluntary rationing, and ignorance -of the activities of food racketeers.

During March there were 2141 prosecutions under the Food Control Orders ’of which 1994 were successful.