MR. LANGSTONE GETS IT OFF HIS CHEST

Chronicle (Levin), 10 July 1947, Page 5

MR. LANGSTONE GETS IT OFF HIS CHEST

^ WELLINGTON, July 9. Compelling the closest attention from both sides of the House with flights of characteristically vigorous oratory, Afr. Langstone infused some life into the Address-in-Reply debate in the House of Representatives tonight by the vehemence of his denuneiations of capitalism and of those whom he claimed sought to deny the workers their right - ful sliare in the wealth their labour' created. Despite what had been said from the Opposition benches, the division of wealth in the eommunity was still disproportionately in favour of those with funds to invest, he said. Insurance companies and other enterprises in New Zealand had paid phenomenal dividends throughout the war years, waxing rich while Xew Zealanders defended their property with flesh and blood. Alr. Langstone declared that he had a list t of 25 New Zealand companies to buy 100 shares in each of which would cost £4800 in 1939. In 1946 those shares

eould have been resold for double that priee after yielding interim dividends of £2000. Companies were increasing their holdings and tending to a monopoly. Was it surprising, in view of these developments, that workers should elaim a greater share in the eo'mmodities which their labour- produced? The narrower the gap became between exploited and exploiter, the greater was the progress a nation was making. Mr. Langstone was greeted with good natured applause at the e'nd of his speech.