THE BOARD OF TRADE

Nelson Evening Mail, Volume L, Issue 175, 8 October 1917, Page 7

THE BOARD OF TRADE

COST OF LIVING PROBLEM. SUGGESTED LEGAL POYVF.HS. The Board of Trade in its first annual report frankly com esses it has not found, during its investigations and inquiries, a panacea for the increased cost of living. "Llio taxation.- of prices, a!tnoiigh force of circumstances has compelled almost every nation in the v.or! i to adopt this course, is fraught with many tmd obvious dangers." states the report. "The conditions p; New Zealand do not yet warrant a general resort to so drastic a remedy. True, the hoard has recommended the fixation of (trices of certain commodities, and the Government has adopted its recommendations, but loss and hardships have in some instances been occasioned thereby, and tnese have not always fallen on those best able to bear them. It is admitted, however, that the assistance and work of the board has served, as a check on combinations that might otherwise have taken advantage of their economic position to 'exploit' the public,, meaning tnercby extracting an illegitimate gain. "The usefulness of the board in this direction would be greatly enhanced if power were conferred on it by legislation, making it obligatory- on purveyors Oi goods and services, to be specified from time to time by the board, to give the board at least seven days' notice of any intended increase in price, and the reasons for such h.---cease. Such reasons could then be considered and. it they were found to be unsatisfactory, the proposed increase could be disallowed, the present legislation being sufficient to deal with any trader insisting on an increase after such a decision lxad been come to. An increase in price may be necessary as the result of any one of a number of causes—e.g;, a shortage in supplies, a rise in freights, and increased ' cost of labour—but during war periods a trader should not be allowed to increase his price more than is necessarv to recoup him for the extra cost entailed, as suffering may be caused bej ore competition has restored the balance between supply and demand and limited undue porfit's. "We believe that with the loyal cooperation of the commercial community the exercise.' of the powers hereby sought would give confidence to the great mass of the people that 'exploitation' and 'profiteering' would be effectively checked. In conclusion, the board would urge the imperative necessity that now exists for increased production, for rig.-J. economy, for the curtailment of expenditure on luxuries, and for the elimination of waste."