Where the Money Goes

Feilding Star, Volume XIV, Issue 20, 4 August 1892, Page 4

Where the Money Goes

«. The Chairman of the North Canterbury Farmers' Co-operative Association at their annual meeting said : — '• Anyone who has watched the. progress of commerce in New Zealand of late years cannot fail to have noticed with regret the fact that London or Australia is gradually assuming the control ot our more important business institutions. We had a New Zealand Bank, with a New Zealand directory, a New Zealand Shipping- Coiripany, with the \ principal interest held in the colony, a Union Insurance Company —all these business institutions have been almost entirely ( absorbed of late by London. New Zealand bias fair, at the present rate of progress, to become a mere tributary of London or : Australia in the mercantile world. !>o country can possibly flourish if the control and profits ot her mercantile business are moved to other countries, or her commercial operations directed from a distance by a board of directors, and shareholders' interests are limply measured by what their profits will be, too often quite irrespective of the general good and well-being of ; the community and colony. 1 look to the co-operative movement to con* trol and gradually arrest this state ; of things." • ' . i ' ■