THE COTTON CRISIS.

Hokitika Guardian, 21 September 1929, Page 8

THE COTTON CRISIS.

“Ihe solution of the cotton problem, as of the mining problem, lies in reorganisation,” says the “Daily Herald” (Labour), “ not in wage reduction or increased hours. True, cotton employers are making some attempt in this direction, under pressure of the banks, but at the best their efforts are partial and slow. Moreover, the process is confined to reconstruction of the cotton spinning, section. It ignores the wasteful methods of buying and handling the raw material, the need for co-ordination of every section right up to the marketing and shipping of the finished product. When the employers talk of costs of production they overlook the burden of over-capitalisa-tion, for which they are responsible, and they omit, to deal with the huge profits taken by the Liverpool gamblers and by the finishing trades. True, reorganisation is a much wider matter than the problem of the spinning-mills and weaving-sheds, and it is one that calls for action on a bigger scale than the cotton employers will or can attempt. A full investigation by the proposed enquiry is the first stop.”