THE TIMES. Published on Tuesday and Friday at Noon. FRIDAY, JANUARY 23, 1920. FREE COMPETITION.

Pukekohe & Waiuku Times, Volume 9, Issue 499, 23 January 1920, Page 2

THE TIMES. Published on Tuesday and Friday at Noon.

FRIDAY, JANUARY 23, 1920. FREE COMPETITION.

"We nothing extenuate, nor set down aught in malice."

ARGUMENT in favour of unrestricted competition, except in special cases, was given in a leading article in this journal a short time ago. We contended that nearly all forms of restriction on prices were economically futile. This conclusion is strengthened by the revelations recently cabled in regard to the enormous profits being made by manufacturers and by the Imperial Government by their purchase of produce from the Dominions at a set figure, and selling again at fabulous prices. Had our produce not been commandeered, our producers would have been able to get the highest prices in the open market. As things are, our farmers are losing thousands of pounds annually, which deplorable state of affairs pll never be rectified until all restrictions aye removed. There of bourse, special cases in Which the principle of open competition does not favourably apply, to coal, timber, etc., where the amount available is very limited, and could not" be substantially Or quickly increased, no matter what figures were offered. But with wool, grain, and other volume of which can be increased, free eompetitifimffiff desiiable. The spar the greater will be tf volume order tol secure those high prices, and the very fact of this stimulated increased production will • ably cause the supply to overtake the dem&fjfjptilfter which prices will r6j*Hiie a normal level. We havefmkeredj Ipng enough with theJfows of] siipply and we liave paid for our meddling every back to sound business, realizing that' tampering with economic laws 1 that we cannot really control is an unprofitable indulgence.