PUBLIC MATTERS

New Zealand Times, Volume XLII, Issue 9825, 23 November 1917, Page 3

PUBLIC MATTERS

DISCUSSED BY BUSINESS MEN COMMERCIAL LAW, NATIONAL EFFICIENCY AND EDUCATION. In accordance with a wish expressed at tho annual meeting of the Wellington Central Chamber of Commerce a general meeting of members was beld at Winder’s Buildings last night to give them an opportunity to discuss matters of public and commercial interest. In the absence of the president (Mr C. M. Luke), unexpectedly detained at Lake Coleridge, Mr A. Leigh Hunt presided over a good attendance. A telegram of apology was received from Mr Luke, who was to have read a paper on hydro-elec-tric power, and had visited Lake Coleridge for the purpose of getting data on that subject. BANKRUPTCY ACT REFORM.

• Mr J. S. Barton opened a discussion on "(a.) Bankruptcy Act Amendment and (b) Taxation.” Mr Barton staled that the present Bankruptcy Act and its administration by official assignees was unsatisfactory. One of tho most unsatisfactory features of the Act was that it provided for the appointment of assignees in tho different centres, and that all bankrupt estates should pass through their, hands. But tho assignees, as a rule, had no great business experience, and the result was that very few good cases passed through their hands. Practically only the estates which would not yield any great result so far as the creditors were concerned, were dealt with by the official assignees. The majority of businesses, whose assets were sequestrated for distribution among creditors, were dealt with by private trustees. The great majority of arrangements between debtors and creditors, ns a matter of fact, were mad© br what was known as a "deed of arrangement,” and the estates were liquidated by private trustees, who, however, had none of the special powers given to the official assignees by the Bankruptcy Act. That was a disadvantage to them in dealing with the estates, but business men felt that, that disadvantage was outweighed by the greater business experience of the private trustees. He advocated a system which had been found to be very satisfactory in Victoria. Tho main scheme of the Australian Bankruptcy Act v*’ a s very much the same as that of the New Zealand Act. They had official assignees, but tho meeting of creditors could decide whether the ©state should remain in the hands of the official 'assignee or puss to a private assignee, and a list of approved private assignees generally public accountants was kept, fro™ which the creditors could make their choice. Any private assignee so chosen under the Act had all the powers possessed by the official assignee. Ho suggested also certain minor amendments, the aim of which was to secure that proper hooks should he kept by all tradesmen and to prevent preferential payments to creditors; and ho urged that a creditor should he allowed to bring an action where ho resided, when tho debtor had absconded. ... Mr Leigh Hunt said that, with all the mass of legislation passed by Parliament every session, tho Chambers of Commerce had been fighting in vain since 1900 to get those common-sens® amendments of the Bankruptcy Act. One astonishing anomaly w.sls that neither tno Official Assignee nor the police had power to prevent a bankrupt leaving the Dominion previous to his examination in reply to a question, Mr Barton said that tho present system of preference to wages and salaries was quite justifiable, as an employee, unlike a merchant or a landlord, did not contract on an equal footing with the employer, COMPANY TAXATION. Dealing with tho taxation of companies. Mr Barton, pointed out that tn heavily graduated war taxation might operate very unfairly in tho case or many shareholders. For example, m the case of a company distributing -£20,008 in profits among 2000 shareholders, which would mean XlO per head, it its capital was .610.000 the company would have to pay a tax of 7s 6d in ,t® o , - ”' He advocated that, to obviate the danger of such injustice, companies profits should be taxed at the point of receipt rather than at tho source, but that, to prevent evasion, undistributed profits should be taxed at the source. Certain relief had been given m the case ot shareholders with incomes under A3UU a year, but that did not fully meet case. . . ~ _ The suggestions made 3-n the two papers were generally approved. p NATIONAL EFFICIENCY AND

ECONOMY. Mr Leigh Hunt .strongly supported the following remit from the Central Chamber, which is to be brought before the annual conference of tho Chambers or Commerce at the end of this month■ That this conference earnestly urses all Chambers of Commerce to _ recognise that the most urgent and vital work for all organised bodies and citizens throughout the Dominion is to assist in achieving a high standard of national efficiency by: . . -r, . Assisting the National Bfficiency Board, and supporting the National Go\ernment in giving effect to recommendations of the board. Endeavouring to secure the economical expenditure of public funds. # Actively opposing national, civic, or rvrivftte wust.® and extravagance m any forrm—moncy, material, service, or time. Stimulating the production of tho Dominion. , , , . , Opposing any monopoly or trust tending to exploit the ’people with regard to the necessaries of life. "Round table" conferences with employees and employers with a view to bringing same closo together, thereby affording tho means of a better understanding of each other. -Study ot co-operative, co-partnersnip or profit-sharing schemes, and endeavouring to institute same on sound lines acceptable to both capital and labour. Improving our education system so as to provide for more economic, scientific. and technical training. Above all, impressing upon citizens of the Dominion that their most sacred dnty is to ensure fulfilment of the obligations the country is pledged to in regard to war and after war expenditure, and that nothing short of national efficiency in its highest sense will make this possible. , , He believed, he said, that tho members of the National Efficiency Board were very canablo men, and they should be supported by the Chambers of Commerce throughout the country in the excellent work they were doing. The checking o* all forms of waste was very important at the present time, as also was the stimulating riot only of the primary _ industries hut also of the manufacturing industries of the Dominion. Business men, equally with, the Labour men, should cppose all exploitation of the people by trusts and monopolies; and ho felt that if tho chambers of commerce and the workers* organisations could get together and discuss that and other matters muen eood would result. As regards co-opera-tion and co-partnership he believed in them would be found to a great extent the remedy for the present estrangement between capital and labour. Economic, fccientific and technical trairmjr. both row and after the war, was a* very vital matter. As recrards the fulfilment of the country's obligations, now that thev were paving .£600,000 a year in interest and sinking fund on their national debt, now that the maintenance of their kroons at the ‘ front had already cost many millions, now’ that pensions and the al-

lowances to soldiers and their dependents were mounting up so rapidly, bu men certainly should consider very seriously how the power of the Dominion to meet tho demands upon it was to o« maintained, especially if the war should last two or three years longer What would happen, for example, if by an unprecedented shortage of shipping, there was a great falling-off in .the prices of all primary products? • WORKING EDUCATIONAL ASSOCIATIONS.

Mr L. A. Edwards, speaking in support of the system of Workers’ Educational Associations said that it had been held that nine-tejiths of the trouble and sutfering in the world was due to ignorance. He strongly held that view, and he believed that tho work of the Workers Educational Associations, especially it combined with frequent round-table conferences between employers and employees, would, do a great deal to remove the industrial strife now so prevalent. AN hat thoroughly organised education couul make of a nation was very strikingly shown in the case of Germany, where a system of education, based on the erroneous principle that the interests of the State should be the solo aim, had handed the German people over to William 11., who was himself the State, as a ready instrument for the attainment of his ambitions for world-dominatioc. Education. as thoroughly organised on sound lines, could do as great a work for good as German education, misapplied, had (lone for evil. British education was practically unorganised, but it was better than German education, because there was morality behind the British system of education but not behind the German custom. Instead of being ail lor the State tho principle of the British system was that the betterment of the individual himself should be tho sole end’, of the process. How little New Zealand really thought of education was shown by the parsimony of their Government'in regard' to teachers’ salaries. He was hcartib- in sympathy with the remit proposed by their chamber that the chambers of commerce should give their practical and financial support to the Workers’ Educational Associations. They already. to his knowledge, had done a great deal of good work throughout New Zealand. Mr T. Forsyth strongly supported the remit. He testified to the good work done by the association in NV eilingtan. and mentioned that although the classes were mainly attended by workers they were open to all clases of the public. An animated discussion followed, the speakers generally approving the remit.