THE PROFITEERING BILL.

Star (Christchurch), Issue 12720, 15 August 1919, Page 6

THE PROFITEERING BILL.

SOME AMENDMENTS. By Telegraph—Press Association—Copyright Australian and N.Z. Cable Association. (Received August 13, 12-15 p.m.) LONDON, August 13. Replying to complaints in the House of Commons that the Profiteering Bill did not touch the wholesalers and speculators, Sir Auckland Geddes accepted an amendment empowering the Board of Trade to investigate prices at all stages. He also accepted the principle of a further amendment enabling the Board of Trade, without waiting for a complaint, to declare a price which would yield a reasonable profit, or fix the maximum wholesale and retail prices. (Received August 15, 1-35 p-m.) LONDON, August 14. Lord Robert Cecil said he was sure Sir Auckland Geddes accepted the principle contained in the amendment. By inadvertence it would revolutionise the whole trade of the country and place it under absolute autocratic local committees.

Sir D. Maclean declared the amendment was rank socialism, but a muddled socialism which no one understoodSir Auckland Geddes, replying, said that if a scientific examination showed there was any reason to believe that national _ and international combinations existed under which the community was in danger of being bled white,_ tho Board would have power to fix prices. The power would not be delegated to a tribunal which would continue for only six months. . Sir G. Hewart assured the House that it was only proposed to give this power to a central authority. Sir G. Hewart’s assurance satisfied some, hut after further strong speeches Mr Bonar Law said the alarm- was not justified. There was no intention to fix maximum prices, genreally, which would only result in supplies disappearing. He would willingly leave the matter to the free decision of the House. The amendment was withdrawn in favour of Sir G. Hewart’s proposition, 'yßh the promise of a further clause limiting the Board of Trade’s power to fix prices. This was carried bv 189 to 95.