WAGES AND PRICES.

New Zealand Herald, Volume LIX, Issue 18025, 25 February 1922, Page 8

WAGES AND PRICES.

SYNCHRONISING REDUCTIONS BUSINESS MEN'S PLAN. PREPARATIONS BEING MADE. [by teleobaph.—phess association.] WELLINGTON. Friday. A meeting of representatives of ness and manufacturing trades associations, convened by the New Zealand Employers' Federation for the purpose of bringing about an immediate and general reduction in prices in the event of the Arbitration Court deciding in April that a reduction in wages was justified, was held in the Chamber of Commerce this afternoon. There was a record attendance from all parts of the Dominion,

A series of resolutions was submitted, designed to (five effect to this object, the resolutions being carried unanimously.

Many delegates explained that the organisations they represented had already on their own initiative made the necessary preparations.

In some cases it was pointed out that owing to the extraordinary slump the prices of certain services and commodities had already fallen below the cost of production, and that any decrease in wages paid would not counterbalance this. In these cases it was felt that a general reduction in prices, services, and commodities brought about by giving effect to the above policy would inevitably tend to minimise such loss and would hasten a further reduction in these cases also All present concurred in the view that a nniversal reduction in prices was the only way to ensure the establishment of trade on a safe and prosperous footing and obviate unemployment. It was emphasised that a reduction in prices would mean that a reduction in the money rato of wages would not be felt, nor would it entail any loss of purchasing power.

PRONOUNCEMENT BY COURT. HEARING OF OBJECTIONS. [BY TELEGRAPH.—PRESS ASSOCIATION.] CHRISTCHUECH. Friday. The Arbitration Court proposes to make a E e noral pronouncement on the bonus question on receipt of certain information from tho Government Statistician, winch is expected to come to hand about the end of next month. Following upon this general pronouncement tho parties will be given an opportunity of being heard before the Court in Wellington before a final order is made. This hearing will take place probably toward the end of April and any general order made by the Court will oporate as from May 1.