EDITORIAL NOTES AND COMMENTS.

Oamaru Mail, Volume XXXVI, Issue 11656, 11 June 1912, Page 1

EDITORIAL NOTES AND COMMENTS.

The oilier day tho Now Zealand Times informed the worlcT that Absurdities of at the canciis of the OpRlV.T.ar. position hold in 'Wellington .many ideas had been considered. Among them was one to the efl'ect that Mr Massey hud been olfered. as an inducement to make him give up the leadership oi' tlie party, making way for Mr Millar as leader of ihe new coalition, the Speakership of the Upper House. This statement was gravely made alter passing the supervision "of editor and sub-editor. Now the fact is that the Speaker of the Legislative Council is elected by the Council lor a. term of live years quite irrespective! of the opinions of any members of the Lower House or any other House, or any Government or Committee or individual —but purely according to th • wishes ae.d t!.o judgment o7 the Councillors voting. Moreover, Sir C. Bowcn, who was elected on the 4th of July. 191(1, will have, when Parliament meets, a day or two over three years of office before him. Does tile New Zealand Times consider Mr Massey such a baby as to believe in such an •'inducement" as, is implied in the offer of a position not in the power of the offerer to convey, and not likely, in the ordinary course of events, to be vacant for three years from date of offer y On the other hand, does the xVew Zealand Times know anything about the election of the Speaker of the Council H I!' ue are to have rumors dished up for popular consumption, let lis have something not too palpably absurd.

Tub end of the big dockers' strik

seems to he a fall Arbitration afid back on the principle the Dockers. of compulsory arbitration. There is to lie a Joint Conciliation Boa'd with a Central Board ior appeal, and failing' acceptance of the compulsory principle the same Js fo be achieved by legislation. Here we have the' same recognition of a fact —the fact that nothing but the abolition of the ritdit of strike will settle the labor question on right lines. We are glad to see the compulsory principle adopted in the Old Country, {'specially as v, e note here a tendency to' speak falsely about the principle, it- is actually stated in a newspaper that- oiedit to kuo-.v better—the Ne-.v Zealand Times —that the supporters of the conipuisor. principle made the initial mistak" of regarding the Arbitration Act as a panacea for everything as well as for tin* settlement of labor.disputes. Which is absolutely untrue. The friends of the Act never concealed their opinion that a great deal remained, to be done for Liberal progress beyond the scope of the Arbitration Act to which they looked chiefly for establishing a modus vi\ endi under existing conditions. They neve;- however put the Act forward as a factor in the reform of the existing conditions. When they found that the Act did effect many things unexpected they rejoiced with the rejoicing of the unexpecting. But that is nor. to he twisted into a contention on their part that the Act ought to have proved a universal panacea, ft was often said bv the enemies of the Act that us friends took up this position of universal nanoooa. Hut that was with a view" not to telling th" tiulh, but lor the purpose of confounding the Act ao anv price. The men who used tr." "panacea" argument were the single-rpM-ers and free-traders of the iaddisx section of the Socialist party. For th-m or their organs now to talk or Gie consistent friends of tlie Act ana its leadino- principle as the author of the -panacea" is entirely contrary to fact.

-Wr.n another voar the Bank of NewZealand has -.made ar.Ear.U of New other 33 per cent. Tins Zealand. of clear profit alter payin<- interest on deoeiitvrrs and allowing for depreciation of p.-coevh'-. The division oi prolits gives Ui U-"Vont.-.-»J:2<3U,fK)l}-to reserve 10 to the preference shares, and lo to the the'ordinary. Why? .ft will require a "ood reason to convince the public i|. "t its shares—the Crown's preference shares obtained as a consequence of the h plp bv which the Bank was saved iron, waster- ought not to be as profitable *;"tiio shares they saved from des.ruction For the rest we expect a tale , s f management as we have a ways hid: and we do not expect a repeat o of the tale of politics ol which we have is. past vears had a great deal too muck The whole story oi the year wi 1 welcome, to those who are sf.il keep- £.. -dive the agitation for the establishment of a State bank.