EVENTS OF THE DAY.

New Zealand Times, Volume XXVII, Issue 5733, 31 October 1905, Page 4

EVENTS OF THE DAY.

THE HARVESTER TRUST

An entirely new principle in our legislation has been introduced by the passing into law of the Agricultural Implement Manufacture, Importation and Sales Bill—the principle, that is to say, of State regulation of the selling price of goods. Hitherto, our Customs tariff has been arranged with the twofold object of raising revenue and protecting our native industries, never for the direct purpose of regulating the price of any article, though, of course, that result has been brought about. The measure just enacted is, however, expressly designed to regulate the prices charged for agricultural implements, so that they shall neither be too high nor too low. Tho circumstances seem to warrant the innovation, and Parliament is. to be commended for the promptness and unanimity with which it has resolved upon action. Under the now law tho Government takes power, on tho advice of a special hoard, to place a duty of 20 per cent, on agricultural implements, to grant a bonus up to 33 per cent, to local manufacturers of such implements, and to remit tho duty on materials (necessary for the making of these implements) that cannot bo advantageously manufactured in New Zealand. The object of tho duty is evidently to prevent tho Harvester Trust lowering prices to such an extent as would crush out local manufacture, for the duty can only bo imposed in proportion to reduction in the selling-price of implements. The bonus may alternatively bo granted if the Board of Inquiry should recommend that relief in that form is desirable. Throughout, however, tho object is the steadying of tho selling prioe, for a schedule of implements is to he prepared. showing the current prices at the present time, and on a departure from standard rates to tho extent of 20 per cent, or more the Board of Inquiry is to meet and advise tho Government. Presumably, the bonus to manufacturers will only be recommended in tho ©vent of the importing concerns cotting” the colony or raising unduly tho price of implements that cannot bo made here. Thus, on the one hand, tho farmer is assured that there shall be no increase in tho price of tho implements necessary to husbandry, while on the other tho local manufacturers are guarded against the danger of “dumping” tactics by their foreign competitors. This legislation will not obviato tho necessity for calling together the Labour Parliament, for it is desirable that tho whole question of tariff revision should form the subject of careful inquiry and consideration by some advisory body, as the prelude to legislation next year. Meanwhile, as wo have said, an important departure has been made by the Legislature, and we may expect to find demands for similar steps being' taken to regulate the prices of other commodities, unless the tariff is adjusted on a "satisfactory basis. The probability is that tho new legislation will remain h dead letter, but it will have achieved its object just as "well in that event as though the machinery set up by it were set in operation.

NEW ZEALAND AND CHINA

In' view of the fact that China, by means of her gigantic boycott against American goods, has brought President Roosevelt with distressing suddenness to his knees—he has promised to be good for the future, and in operating the exclusion law ho will show “every courtesy, consideration, and encouragement to the Chinese” —it may bo worth while to inquire what risk New Zealand runs in insisting upon an ignominious poll-tax upon every Oriental who desires to settle in this colony. Our export trade to China does not seem to give that nation much opportunity of using against New Zealand this new weapon of the trade boycott which China has so aptly borrowed from her enemies. Tbe total value of our exports to China last year was £73, a decrease of £257 from the previous year. If the decrease has been continuing for the last few mouths at the same rate. New Zealand’s exports into China have already reached vanishing point. We may, therefore, congratulate ourselves on our certain immunity from the wrath of the offended Celestial. It will not be necessary for New Zealand to follow America’s example, and penitently admit that ‘Sve come short of our duty towards China.”

GENERAL DR A GOMIR OFF. Tho death is announced by cablegram from St. Petersburg of General Dragomiroff. Tlio deceased was a distinguished commentator on military affairs, with a distinct loaning towards tho German school. Ho had written several works cn war methods, ami translated tho works of a number of celebrated military writers into Russian. During the late var General Dragomiroff and General Grodekoff acted as military advisers to tho Czar, and tho deceased’s importance in this respect is indicated by an announcement made in April—after the Russian armies had boon crushed at Mukden, and the first rumours of peace negotiations were one of the main topics of conversation — that “General Dragomiroff .has left St. Petersburg for a fortnight’s rest in the country, which indicates that nothing important is expected.” Tlio deceased had a poor opinion of General Ivouropatkiu’s conduct of tho whole campaign against tho Japanese. He was understood to have strongly opposed his appointment, and was probably very largely responsible for the recall of the Commondor-in-Chicf immediately after tho disastrous happenings during the last few days of February and the first fortnight in Alatch. Indeed, it was reported from tho Russian capital at the end of March that “General Dragomiroff is represented as having come up to St. Petersburg exclusively to oust General Kouropatkin from his position, in favour of General Linevitch.” A few days later Kouropatkin was recalled, and. Linevitch given supremo command. General Dragomiroff’s opinion of General Kouropatkin may be gauged horn tho following utterance: —“If a single ono of the Japanese generals had had any real comprehension of this country, and known how to divine the character of tho generalissimo, tho Japanese armies would have long ago been at Harping.”