WELLINGTON TOPICS

Hokitika Guardian, 1 March 1926, Page 4

WELLINGTON TOPICS

A NKW LEAGUE SUGGESTED. (Special to " Guardian.”) WEI .id NGTDN. February 2(1. A letter which appeared in the Evening I’nsl ” a couple of days ago is liound to create a good deal of interest. Tiie writer, who signs himself • Alarmed." says:—The extraordinary powers placed in the hands ot the Minister of Agriculture, who. he a simple negative, has destroyed the value of the assets of the Wellington Meat Export Company, has caused many people to ponder over the situation. " The Kent Restriction Act, the Mortgages Extension Act (since repealed), the yrd of Trade Act, 1919. and several other legislative measures and Government hv Order-in-Conneil. or by regain t on. have stripped ns of most oi our cherished political rights and liberties. Cuiler the Hoard of Trade Act it is within the power of the Government to lix wages and salaries, fees and commissions of all and sundry. The various control hoards have heen given extreme powers over the individual without atiy responsibility. If nothing tiit-

oresecn happens, the Dairy Control Hoard will assume absolute control of tlu> dairy industry and reduce the producers to mere automatons. It is obvious that to recover our political rights and liberties that have been niched from us by tite so-called Kcdorm Government, which also happens to he the most Socialistic Government wc •have ever had in power, wc must organise and fight. I suggest, sir. that t lie time is l ine for the formation of a

•■political Rights Restoration League" in order to regain the political, coniine,via.l and industrial freedom that we enjoyed prior to the war. fancy ri solutions passed at meetings and deputations to Ministers will accomplish nothing, hut an organisation with the definite object of reforming the ‘Reformers and with voting strength, would make the Government -it ut) and take notice, li the people don't kick now and kick pretty hard, they will lie forced to shod more of their rights and privileges. Is there a man in the community—a patriot sincere enough to tackle this job. and set the hall rolling!' There will be mole kicks than half-pence in it. nevertholes.s it would he worth while." litis letter has attracted considerable attention for the appeal accords with the .sentiments of unite a large number ol business men in Wellington. .MORTGAGES.

The volume of mortgages registered last, year shows a substantial increase as compared with 1021. the totals being t 17.3(10.28 1 as compared with C 12.985.71 A. and the discharges were also larger, being C 35.737.821 against C 27.101.179. On these figures the excess ol registrations was tll.Ol 1 . Iffl last year against IFW !.2.T I in 1921. Th.e aelttal conditions In the total vol-

ume of mortgages last year was. therefore. eompnrai iveiv small. It is likely to he smaller in the current year

because rbero is not the money avail able. Eor some time past borrower.-

have been paying 7 per cent for money on first mortgage, showing a fairly wide margin of security. This, of

course, is in respect to residential property which in most, places is assessed at an inflated value, in the A tick la ml District la-I year the registrations amounted in C10.181i.1123. and the discharges to C7.fi-SO.fi7o. showing an excess of registrations of C 2.505.318. In the Wellington District the registrations totalled L'lo,-125.095, and the discharges to C7.fi31.031i. the excess -if registrations living C 2.791.059. In the (anterlmrv District the registrations aggregated C 0.337.0-17. and the discharges to C3.-1n5.-179. showing an inerea.se of registrations of C 1.931 - 508. Business in money-lending has been most active in the AYcllington District. Eor some time pa-t borrowers have had to pay 7 per cent., allowin': a fair margin, loit tin- u.iinnlatul now i- Unit there is not much nuiiey available even at tin- rate, therefore rates must: advance. THE WOOL MARKET. The Auckland Wool Brokers etaimed that at their -ale nrices showed an inipiovcmcnt of about a penny per ll> on •bo nrices realised at the Wanganui sa'i'. and the Xapiir Wool Brokers claimed that their pritos were a halfpenny about tiie Auckland rates, and i-, will he interesting to note the claims ol the Wellington Wool Brokers who will hold their fourth sale ol the '•c:i~un on Monday. March Ist. As a matter ol tael there Inis been no improvement in values when the condition and fpiality ol the wools are taken into consideration. The official range ol nrices at the Napier sale do not

show any improvement worth noting as compared with the -January sale. There is a good demand for wool at current, prices, and business activity depends a great deal upon the supply ol credit obtainable by Continental buyers. Bradford will not help to raise prices, because of tlie heavy losses made last year.