PRICE FIXING

Dominion, Volume 14, Issue 169, 13 April 1921, Page 7

PRICE FIXING

THE DUTY OF THE STATE

PAST EXPERIENCE AND FUTURE PROSPECTS The problem of price fixation was mentioned by Mr. C. J. Ward in an address before the Industrial Association, last night. "I believe I am fully aware of the stock objections to tho fixing of prices by the Department of Industries and Commerce,” he said. “I say, with a little knowledge and great diffidence, that these objections do not furnish a full answer to the advocates of State interference in the prices of commodities.

"Can we as manufacturers ask the State for protective duties, as for the Department to assist in the development of those industries, and ask our workers to submit their claims for remuneration to the Arbitration Court, and at the same time ask for an absolutely free and unrestricted right to fix prices for our manufactures? I hear the murmur of 'competition/ and The .of supply and demand,' and again 'the value to the consumer fixes the price of the commodity,’ but candidly has any of these factors prevented tho orgy of prices that has prevailed during tho past five years? There is too much talk of patriotism and service to the nation, and whilst fully agreeing with tho saying that the labourer is worthy of hie biro, whatever the ideal may be, can we say that tho commercial practices of the present period carry out that ideal of service? Or are they merely seeking to take advantage of every opportunity to turn every market movement in the direction of personal gain. "Manufacturers are quite accustomed to be classed as more than merely foolish, by merchants and agents, and it is not at all uncommon to be told that the eons of manufacturers have not been fairly treated by training them for manufacturing instead of commercial pursuits, merely because the latter class are frequently able to take advantage of a. market movement, or of an emergency, to make a. large amount of money quickly without any corresponding service. 11 the Department can check these tendencies, and services rendered become the sole consideration for reward, it- will bo a potent factor in aliasing tho present unrest. It is fair comment that during the world crisis every financial and commercial system broke down, and . those now demanding that the Government take up a policy of "hands off’ were the first, the loudest, the uiost insistent and persistent in demanding State assistn|ncz». and this applies, to practically every country. There can ho but little doubt that Government interference with prices -will continue in some form. The precise form cannot be forecasted. It is certain, however, that the Department of Industries and Commerce will 1 have no small part in this branch o’ State activity.”