PRICE CONTROL

Wanganui Herald, Volume LIII, Issue 160724, 10 August 1920, Page 5

PRICE CONTROL

TRADERS DENY PROFITEER* im j INCIDENTS AT A DEPUTATION* (By Telegraph --Sport a I to “Herald”). WI. L Lf. NGTON, August 11, “We liave been hearing mostly of one side for a long' time, now we will hear the other,'’ was the Premier’s comment when a large deputation representing lhe wholesale and retail iradera of the Dominion submitted in Jiim and Gm Jion. K, P, Lee. president of ihe Board of I rude, several suggestions to amend Ike Board, of Trade Act. The most important was that I lie replacement value should be recognised in assessing the reasonable price of articles sold. There were different \lews among ih<* ■deputation as to whether profiteering lias taken place. Mr Luke, mem her for Wellington North, who introduced tin- deputation, said he had no sympathy with proliteeriiig, but merchants and ietailors had it light to In', heard in their defence, Mr 1:1, H. Wyles, of Christchurch, declared roundly that there had teen no profiteering in business if Urn matter was looked at reasonably and profits viewed from the point of the whole business turnover. He strongly complained of the Board of Trade Act as a reflection on the whole business community. It did mil comply with the traditional principles of British justice, because it assumed that l lucre was proliLeering, and a busincs.-, man had to show cause why he should jmi 1« dnhhed a profiteer, “Profiteering," declared Mr W. Cow, Dunedin, "went a, long way further back than the retailers. It must be traced to the source, of supply. The Premier had declared that I lie producer was entitled m the full benehl of tin; open 'iniu'kol, but. he added, yon tell the business man that- he is not entitled to benefit on the o]«-u market, but has to lie under control. The export of New ’/valand’s prodeee lias Itud lh« effect of bumping up prices against tilts leeal e< nsnmer to an extent far greater than the fanner realises by the export of his produce.” Mr Mascev: Would you stop exjKn'i now ? Mr (tow: No. .1. would take care the local price is reasonable. Another speaker, a prominent Wellington grocer, declared that under tic verms of the Act any ofifier of tin' Heard e.f trade could go into his shop and pick a profiteering ease, though tin was following the same prinieples a 4 twenty years ago. Mr "".Massey: You say you are guilt J of m’ofiteoring? The Grocer: Yes, according to Section 32. because the Act docs not take I In' circumstances into consideration. Mr .). f’. Entrican, an Auckland provision merchant, sajd that Ids firm had made a gross profit of ’■> )>er cent on 21 articles which were common necessaries. The firm’s expeu.-ws were 91 pci’ cent, last year Mr Massey You meant net profit!' Mr Entricp.n replied in the negative, adding that they lost £~> per ton on isr.lt, 20 ner cent on candles, and had reduced lea Ad per 11), which was more than the Golem bo reduction. THE TONE Ob' THE HOUSE, “Were imy of you gentlemen in th« House when the Board of Trade estimates were discussed the other night.” asked the Hon. G. B. Lee. “You mean when Mr Wilford went wild?” queried a deputations!,. who admitted that the Government was up against a verv .strong element in Parliament. Air Wyles: We think they don’t understand it. Mr Massey, in the course of his reply, suggested, smilingly, that Mr Cow’s education must In' defective when he. talked about the prices of export* and products. The Government had arranged for the sale of meat at freezing works at the imperial schedule rates, while it paid L2iKM)OO as subsidy to keep down the price of butler, and L’.nO.OOo to keep clown the price of luead “How much longer we will bo able to go on 1 don’t know,” .lie remarked. He emphasised (he need of encouraging production if New /calami was t-:> 1-e able io carry its financial load. He reminded the deputation that, there was a class 'll the community v liieh all the time tried to make political capital out of the alleged inactivities of the Government ami declaring that pi officering was rampant. Mr Lie, apropos of flic objection to publicity, remarked- that in Australia the inquiries were pid listed, everything Indug given to the m v.npapers. “Evtrv gentleman present realises,” declared Mr l.uke, “that d there waft mi Board of Trade Aef it would lie God help New Zealand." but the deputationisis indicated their dissent.