THE FOOD GAMBLERS

Waikato Times, Volume 91, Issue 14133, 9 August 1919, Page 3

THE FOOD GAMBLERS

PLAIN SPEAKING AT HOME. •

Only instant and firm action by the Government can prevent a rise in the price of food and other necessities next winter such as will put all war prices in the shade (states the London Daily Mail in a recent issue.) The food gamblers, looking to the day when control will be removed, are busy. In a remarkable interview Mr C. A. McCurdy, M.P., Parliamentary Secretary of the Food Ministry, quotes the glaring instance of the sudden rise of margarine prices following the removal of the control of linseed oil, and large profiteering purchases of this essential food oil. The position is complicated by the scramble for food in enemy countries, and the organising of credits by the United Slates for these countries, which will enable them to compete with us in buying food abroad. Only control can keep prices down for us in such circumstances. MR M'CURDY'S WARNING.

Mr M'Curdy states that as the result of the removal of control from oils and fats a big gamble in linseed oil has begun. Linseed oil is an essential part of margarine and cattle food. "Large nurchases of linseed oil have beenjnade during the last few weeks by paint manufacturers," said Mr M'Curdy, purely for profit-making, and prompted by the sensational rise in price. This is simply gambling with the food of (he people, and is 0:10 reason why margarine lias risen in .price. The question of the resumption of control of essential commodities like oils and fats, including bacon and lard, has been under constant consideration for some time. There was some hope that the removal would bring reasonable prices. In this case it has not done so. We are certainly prepared io reimpose control'if conditions are not fulfilled." "What can he done to slop the rise?" Mr M'Curdy was asked.

"National buying can cut out a great deal of profiteering and speculation and steady prices. It cannot do away with the. economic law that when supply Mis below demand prices will rise. But the tendency of to rise out of all proportion lo the shortage of supply. The fact that prices are rising attracts outside speculators. That is one of the principal causes of high prices, and the linseed oil gamble is a most striking example of it."

"Then the Ministry of Food will resume control of oils and fats and retain control of meat and wheat?" "If necessary," Mr M'Curdy replied. "To put, the matter in a nutshell, the Ministry of Food was instituted to counteract the effects of war on the food of the people, and the effects of war have not yet ceased, nor will they cense with the signature of peace." "Will the raising of !he blockade cause a further rise?"

U.S. CREDIT FOR HUNS

“There is growing apprehension tint tint will result from tin Fdgnature of ponce anil tin raisins' of the blockade, because the central nations are in a state of semi-starvation, and are prepared to pay any price for food and necessities. But tint is not quite an accurate view of the situation, because for many weeks past the blockade has been no impediment to the. provisioning of Germany and Austria. Lack of money tins been the real 'mpediment. and the danger lies in tin fact that the United States is preparing to remove it by organ sing credits for the Central nations. The Americans realise that finance is the essenfn! trade weapon. She. is anxious to extend her foreign markets, and is preparing to find the money which will give Germany the means to become competitors with us for her oils and fats and other foodstuffs." Mr Syrett. secretary of the Consumers’ Conned. which tins been advisinsr the Ministry of Food from the consumers' point of view, is seriously concerned at the prospects for the autumn and winter if control is relaxed. “Raw material is jumping in price, and the position is very serious." he said, ‘if the Supreme Economic Council in Paris listens to the Americans it will erase .all inter-Allied food purchases-. This will cause a mad rush for food, and only the control of supplies and prices wit! prevent serious trouble, in this country.” As far hack as February It. Mr G. IT. Roberts, M.P.. the Food Controller, at the American Luncheon Club, sail!: “There would he nothing worse than that we should release control and prices should bound up. because that would mean a recrudescence of unrest in a more violent form than that which confronts us now.” This was followed by a reassuring speech from Mr Lloyd George on March 1 to the Industrial Council when he expressed the hope that by the summer “the cost of living in a working man's household would be reduced by 4» a week.”