THE COST OF LIVING

Taihape Daily Times, Volume 7, Issue 319, 22 October 1915, Page 3

THE COST OF LIVING

THE PROBLEM OP PRICES,

SIR JOSEPH WARD DEFENDS HIS SCHEME.

WORK FOR THE BOARD OF TRADE

Since the Icose of the session a certain amount of adverse criticism has been levelled at the scheme for the establishment of a Board of Trade to examine the problem of increased prices. The board is to be created under the Cost of Living Act, which was introduced by Sir Joseph Ward in the House of Representatives, and some people appear to be under the impression that the consumers are not going to be benefited at all by this legislation The'y notice that prices are still soaring and form thier judgment accordingly.

Referring to this subject yesterday, the Minister for Finance said that he was fully aware of the nature and extent of the difficulty that was confronting thousands of people of limited and moderate means, and he felt very sincere sympathy with the sufferers. “But,” he explained, “the Government cannot remedy the trouble by a wave cf the hand or a stroke of the pen. There are economic problems involved in the situation that cannot be settled in that simple fashion. But the Government is doing its utmost to secure relief for the consumers, particularly for those consumers who in

normal conditions have to be content with little moe than the bare necessaries of life.

“The Cost of Living Bill of last session was designed to give full effect to the Commercial Trusts Act of 1910 and the Regulation, of Trade and Commerce Act of 1914, and to clear up several points which were not made quite plain by tlhcse measures. Many people in criticising the bill appear to have overlooker the fact that it had to be read with the law already in the statute book. It sets up a Board of Trade, consisting of the Minister for Industries and Commerce and three paid members, who will devote all their time to the duties of tiheir office. No doubt capable men with wide experience and entirely freed from other interests will be selected, and with their assistance the Minister will make represntations to the Government that can be put into operation at once. The whole machinery for the regulation of prices is now provided, and it will be set in motion directly the paid members of the board are appointed.” “Do not misunderstand me,” added Sir Joseph Ward, “I believe the board will do very excellent Avork and will afford all the relief that can possibly be afforded to the consumers. At any rate, it will stop them from being exploited by greedy tradesmen. But the public must not expect it to effect impossibilities. The cost of imported goods can’t be regulated (here. If the 1 prices of tea and cocoa and cottons and | other things; ha\ r e gone up in the couni trie s where they are. produced, we can’t Insist upon the importers selling

them in New Zealand at a loss. That would be unreasonable and unjust. But we can see that no one makes more than a fair profit. “The penalty for any breach of the j law may be as much as £SOO, and the j tradesmen who risks having to pay this amount need expect no mercy when he is caught. The administration of the law I had the satisfaction of placing on the statute book this session is net in my hands, but I am sure the Prime Minister, who will be president of the board, is as much in earnest about the matter as I am, and that he will take care that swift retribution follows on the heels of the evil-doers.” (Applications are being invited for the three paid positions on the Board of Trade, and it is expected that practical men unconnected with the Civil Service will be appointed.