LOWER PRICES.

Waikato Times, Volume 109, Issue 18343, 1 June 1931, Page 9

LOWER PRICES.

WAGE AWARDS REDUCTION ARBITRATION COURT CONTENTION. ULTIMATE BENEFIT OF ALL. (Special to Times.) WELLINGTON, __ Monday. “I do not think that I am exceeding my duty In urging all manufacturers and traders to pass on to their customers the benefits of roduoed costs. By so doing, turnover and net profits will be Increased and the standard of living and the purchasing power of tho community maintained,” said Mr, Justloo "razor In handing down tho doolslon of the Arbitration Court In reference to a reduction In wage awards.^ ■I; ‘‘lf manufacturers and traders seek to retain the benefit of reduced wages costs as a set-off against past losses,” continued His Honour, “the adoption of such a policy will in the long run oertainly react to their detriment. It Is by giving consumers the . commodities and service they require at the lowest possible prices that their own interests will be best conserved.” Mr W. Cecil Prime, another member of the Court, stated in reference to the same subject:— ' '“I think it. my duty to point out to employers the necessity £>f endeavouring to pass on In reduced prices of commodities the saving which will be made as a result of this order. The purpose of the reduction in wage rates is to enable trade and industry to recover for the benefit of the country as a whole. The opinion has been expressed by leading economists, that prices of primary products will eventually stabilise at a level somewhere about 25 per cent above that of 1914. If this is so, it will be necessary for New Zealand so to arrange its wages and price standards that trade and business can be carried on successfully on that level. The present reduction will not bring us down to that level, and it will be possible to reach it only if those engaged In commerce will assist by bringing down prices of commodities to an extent relative to the savings made. The savings should be cumulative if manufacturer, transporter, wholesaler and retailer each pass on their proportion. If that is done, we shall be able, by subsequent steps, to get down to a basis which will conform to the level of prices obtainable for our exports, without endangering the standard of living of our people. “Then only, shall wo be in a position to concentrate on In-, oreaslng the country’s production, whloh Is tho only way In whloh tho standard of living of the people may steadily be improved and the Dominion maintain prosperity.” •