WELLINGTON TOPICS

Hokitika Guardian, 6 May 1929, Page 2

WELLINGTON TOPICS

THE TOTALISATOR.

ANOTHER GAMING BILL.

(Special Correspondent)

WELLINGTON, May 2

Though it is unlikely that the new Government will introduce during the approaching session of Parliament a Gaming Bill it is quite on the cards that the Bill introduced by Sir George Hunter last year, providing for the publication of dividends and for the transmission of investments to the racecourse, will bo revived. The lieform Cabinet was divided in regard to Sir George Hunter’s prosposals and it is understood that the United Cabinet would be in a similar case were they again submitted to Parliament; but folk who have been counting heads declare that the new House is more favourable, towards the publication of dividends and the transmission of dividends than was the old. It is probable that if a Bill of any kind were submitted to Parliament this year an attempt would be made to lesesn the taxation upon investments which during last racing season, from August 1 1927 to July 31, 1928 amounted to £561,032, as against’ £559,627 during the preceding year. The racing clubs receipts during the corresponding periods amounted to £610,587 and £601,860 respectively. STATE FUNCTIONS. Speaking at the annual meeting of the Wellington branch o fthe Economic Society of Australia and New Zealand at Victoria College last night Professor B. E. Murphy compressed into a single paragraph the conditions that should be observed when the State entered upon competitive business, “State industries,” he said, “should cover costs in the full sense. These costs are (a) Operating expenses, (b) interest on capital, (c) repairs and maintenance, (d) reserve to cover fluctuations, (e) reserve equivalent to their proportion of rates and taxes, (f) provision for extension of service (g) provision for value of service 'furnished free or under cost by other departments of State. Yli) an-allowance for the damage they inflict upon private industry, (i) provisoin for thc\ privileged position in competition oif a State undertaking , e.g., exemption from labour laws, privileged in collecting accounts ,privileged position in litigation.” These are the points lor which the body known as the Nineteen Twen-ty-Eight Committee lias been contending and given the imprimatur of a recognised professor ol economics thc,v cannot he ignored by the reading and observing section of the community. THE OTHER SIDE. It will be only fair to mention that the audience addressed by Professor Murphy was not unanimous in endorsing his views, Mr C. N. Banks, one of Wellington’s leading business men, thought the State was interfering far too much with business,. Commercial men, he said, were so hedged roung by regulations that they did not know which way to turn. Personally he would welcome Socialism, as its advent would mean that he would" not have to work nearly so hard as he had to do under existing conditions. The majority of the other speakers took a different view. Mr J. Fordo thought the ’ professor was an old-iashioned economist out of date with the trend of the times. Mr Malcoln Frazer, as in duty hound, said lie did not think the State in New Zealand had entered into many industrial enterprises. The professor’s charges of wholesale political interference in Government enterprises had not been borne out bv proofs. And so on and so on until a vote of thanks to the professor for his “informative lecture” brought the pro ceeding to a close. THE PARTIES.

The talk of an early session of Parliament with a view to ascertaining the position of the three parties in the Mouse of Representatives lias not subsided. The Reform Party has no wish to go to the country again just now, realising, no doubt, that the time is not opportune for inviting the constituencies to revise their decision o'f six months ago, and the Labour Party is in much the same position only moio so. it looks as if the initiative in this respect rests with the United Party. Sir Joseph Ward and his colleagues have the advantage of being in possesion of the desired goal, and it is quite safe to assume that they will not nllow r themselves to bo dominated by either Reform or Labour. II anything of that kind were attempted they would seek a dissolution, to which they would be entitled .and the chances, are would come back with an independent working majority, ft looks at the moment as if the probabilities of the future lie on the side of the Government bolding office ifor the life of the present Parliament.