WELLINGTON NEWS

Hokitika Guardian, 25 June 1925, Page 4

WELLINGTON NEWS

Hem FA-LUTIN’ CUATMS. to “Guardian”.) WELLINGTON, l uno 22. ■ .Minister for Agriculture, the ■ Xosxvorthv thinks the com- ■ classes of the Dominion have memories. At the hnn■end'ered Messrs W. C. Motion ■'. A. Irons, moml>cvs of the Board, who are proceed- ■ Britain to represent that body London agency, the Minister in to the toast of liis depart - ■ stated that in fostering the ■>l Boards lie had had solely bcH, the greatest good of all of people, including the comM x \ interests and the mercantile of the Dominion. because ■ future prosperity dependlupou the ultimate welfare prosperity of the primary Hirer. The Alinister puts up an Hdeut claim for political virtue Hlie evidently forgets the sorry He ho' cut when Mr YS . D. Hunt Hnominated l>v the meat exporters ■ sent on the .Meat Board. The Hstcr was so concerned for the lire of the commercial classes, that Be fused for some time to endorse I appointment of Air Hunt as he lid have done and that without ■ question or quibble, llis attitude Birds Afr Hunt, however, was mild Ipa red with his attitude towaids ■j. b. AlneKwan. who was nominatBby the dairy produce exporters to Beat ort tile Dairy ('out ml Board. Bj nomination was not only held up B the exporters were requested to B<c an alternative nomination so It the Minister could make a selecIn. The attitude of Air Nosworthy I, nothing short of a. political scanI and it was only through the inIvention of the late Air Massey lit Mac Ewan was enabled to take I seat on the Board. Air Nosworthy Is guilty of the worst class of eonlonsness, and now to claim that he Is actuated by any kindly sentiments [wards the mercantile community is leer impudence. The attitude and Hons of the Alinister for Agnculrc have caused the commercial clnssto lose all confidence in the Go•Viment and the next election will mw th'e effects. In the meantime it otihl not be out of place to warn the liry factories to keep a close watch i the Dairy Control Board’s expendi,re. It’s revenue comes in quite isilv and in volume and is being iont lavishly, the salary sheet alone •ill amaze the contributors. ' leneral Ataiiager of tlic r.ondon Ageny bus not boon selected as far as is nown, but general opinion appears to e that Mr Wright who is London rcresentative of one of the northern airy associations, will receive the ap-

pointment, THE CHAIRMAN’S SPEECH. The speech delivered by the Chairman of the Bank of New Zealand (Sir George Elliott) at the annual meeting l-.st Friday, was insipid and lacking in inspiration. There was nothing in it to make the public think, and it was badly arranged. It was not nearly so good as the one delivered' last year by the acting chairman, or even as good as the one previously delivered by Sir George Elliott l imsclf. The reversion to the gold standard by the British Empire was i ccessiiry to show why there had been it readjustment of exchange rates favouring exporters. The well-known fact was emphasised that although standard the gold currency is not m vogue. The gold standard has been restored to give some measure of Stability to the .foreign exchanges, Which of itself is helpful to trade. Ihe free circulation of gold wilhi„ and defined territory is not necessary, certainly, G ' s not desirable for the reason that: cvcrv ell or I should he made to ,e,the metal. The circulation ot notes within the Dominion is not detrimental to the interests of anyone, arid while that is so there is no call ))(• tlie circulation of gold. 'Hie in circulation are well covered lor the gold and bullion Hold by the bunks -;j r t the Dominion on March lllsl. lasi amounted to £7,727,904 and the notes outstanding or in circulation amounted Ic; i£R,094,914. Perhaps the most interesting portion of the speech was that dealing with pools and control boards. “H would he uidort iniale. lie'observed, “if the formation of pools for the management and sale <>l all ..cur products were carried to such extremes as to impress our customers across the sens with the idea Gmt whatever the conditions were m S.A. we intended either by Hooding the market rr by keeping it bare to extract the last penny possible lor our wares.” Obviously that is the avowed abject cf the Control Boards, and i they do mil succeed in Unit there win I " a vigorous agitation lor then a >•>- litioll and the saving of the enormous cost, to Hie producers. However. it

(lot's not seem nocesmry to worry over this matter, for the law of supply i"" demand "ill regulate all markets, am in nuv case the British merchants may be trusted to look after themselves. Slir (te.'iree is right when he says “proper storing. shipping and marketing of our wares is essential, hut the area lest care should he taken to avoid the appearance of price-fixing or market-rigging.” Here again i may he said that is the object ot the Control Boards, and it is apparently the avowed intention ot the Dairy Control Board when absolute control is sanctioned.