NOTES AND COMMENTS.

New Zealand Herald, Volume LXIV, Issue 19806, 29 November 1927, Page 10

NOTES AND COMMENTS.

THE VALUE OF TRADES UNIONS. "I am sure trades unionism makes for peace in industry, and the employers would do well to show a bigger-minded-ness in freely encouraging, or at least not being at enmity with trades union ism," writes Mr Ben Turner, chairman or the Trades Union Council, in the Even ing News. "I have for a long time urged that it is better for employers to bo or ganised into their associations and then into their federations, thus becoming one side of a bargain-maker in wages matters ; but, the other side must also be organised, so that the round table shall be the business ground and reason the weapon, in place of the lockout or strike. It gets us nowhere to call a capitalist a tyrant, nor, for tho capitalist to call a trades union official an agitator. I feel sure there should not be a trade dispute until negotiations have beeu entered into by each side, and ori as friendly a footing as possible. Some disputes, I know, arise suddenly: a foreman 'goes off at the deep end,' a manager alters tho piecework arrangements, a firm puts up a notice for a reduction. Most disputes are caused by those three things; most disputes are tho creations of trouble outside the trades unions' actions. Give Labour its opportunity to consider equally with the captains of industry the condition, position and well-being of industry, and it will be better for industry. Treat the worker as a cog only and tho cog will sometimes miss." BRITAIN'S DEPLETED SAVINGS. The fantastic financial programme of tho British Labour Party, based upon the idea that the country can bear additional taxation to tho extent of £100,000,000 a year to finance its programmo of social reforms, lias not been supported by Mr. Philip Snowden, who was Chancellor of the Exchequer in tho Labour Government. Discussing Britain's situation in a speech recently he said trade revival was vitally dependent upon capita] saving and tho capital development, not only of Britain, but also of others which should be her customers to a greater extent. ' Before the war tho people of Britain were saving about £400,000,000 a year. To-day they wore certainly saving no more, whereas with the change in the value of money they should be saving at least £750,000,000 Lack of savings was greatly I hindering tho trade recovery of Britain. It meant dearer money and, therefore, ih© raising of national and local taxation The country was faced in the near future with tho task of converting huge blocks of war stock—something like £600,000,000 had to be convorted in the present financial fear, and in 1929 a huge block, amounting to £2,000,000,000, upon winch over 5 per cent interest was now being paid, would have to be converted. Were tho money market made more favourable by increased capital savings, that latter sum might bo converted at a much lower rate of interest, with considerable saving to "the taxpayer Mr Snowden added that wasteful expenditure and the wasteful employment of capital were maintaming a vicious circle of depression and unemployment. Expenditure on drink last year was £310,000,000, tho same as tho interest charge's on the national debt. They spent £250,000,000 a year on gambling, which meant that so much more was being prevented from circula ting m trade The burden of armaments was a terrible one, but the whole of the expenditure of Europe last year on armaments was only 50 per cent mor* than tho expenditure of Britain upon drink. ,