PRICE CONTROL

Evening Post, Volume XCVIII, Issue 39, 15 August 1919, Page 7

PRICE CONTROL

THE PROFITEERING BILL PART OP A WIDE PLAN PROBLEM OF ATTACKING TRUSTS. (UNIIBD PBBSS ASSOCIATION.—COPSRIQHT.) (AUSTRALIAN-NEW ZBALAND CABLE ASSOCIATION.) LONDON, 11th August. Sir Auckland Geddes, introducing the Profiteering Bill, said that a reduction of inflated prices was necessary, economically, in order to reduce imports and encourage exports, and also socially, because profiteering was a serious source of popular unrest. Many members opposed the Bill on the ground that it did not reach the real profiteers, only the retailers, and would unsettle trade by causing unnecessary alarm. The rejection of the Bill was moved by Mr. M'Curdy. . The Parliamentary Secretary replied that the Bill represented only part of a wide plan to control the movements of prices. The latter would require a prolonged inquiry. The establishment of local tribunals, meanwhile, would enable facts to- be ascertained. The present Bill did deal with operations of big business interests, and provided machinery which could easily be enlarged. Mr. J. H. Thomas said that the opinion of the Labour Party was that the Bill did not deal with the right people. The real causes of profiteering were trusts and combines. The Labour ■Party would support ths second reading, but would move amendments in Committee. . ■. .

Sir R. S. Home (Minister for Labour), replying, pointed out that the Bill gave the Board of Trade power to make investigatictas, without which combines could not be broken or prices regulated. The Bill would also render a great service in making people understand* that in many cases prices were due to shortage of output, and that increased production was the best hope of decreasing cost.

The closure was carried by 251 to 8, and the Bill referred to the Committee of the whole House.