AFTER THE WAR.

Taranaki Daily News, 22 June 1918, Page 6

AFTER THE WAR.

THB NEW FROKLEMS. SNGREAOE IN EPFICIMOVr AND OOTEUT. Wellington, Yesterday. A£ the annual meeting of the Bank of .New Zealand to-day, Mr. Harold Beanchamp said: — for some years to come, specialisation, standardisation, and combination vriH unquestionably (be necessary. There are indications that the commercial war which is predicted to follow the present ghastly struggle will be a contest between combinations of national importance, and, therefore, it may be, a facsimile of the present war of nation against nation. These combinations will not be merely on the base of priceagreements, or on monopolistic linesjibut , co-operative, and designed to cheapen production while conserving quality. Several huge combinations have already been arranged, and apparently with official sanction. In the new scheme of things, Oa/pital and Lalbor must wotfe together in harmony for mutual benefit. In the past, Labor leaders have taaght their fellows to (believe that Capital is antagonistic to Lalbor, that labor is not gettting adequate rewards; aM these mischievous statements have gone uncontradicted, not because they could not have been contradicted, but because there has been no organisation seized with the duty of controverting them. We have chambers of commerce, employers' associations, industrial associations, farmers' unions, and other similar concerns, which hold conventions and conferences perhaps once or twice a year, send a deputation or two to interview Ministers, and then drop back into the routine of life without having accomplished much of material importance. It appears fb me that a "bureau of industry and commerce" would be desirable, which should have for its main Object the refutation of unfair statements, the explanation of illogical theories, the education of the workers into an appreciation of their rights and duties, and the establishment of confidence and respect between those who pay the wages and find the capital for industry and those who receive the wages and work at the industry. Get the workmen to understand that high wages are caused by increased production, that increased production tends to cheapen goods and go lowers the cost of living. The workers cannot greatly and permanently improve their position except by. an increase in the efficiency and output of their lalbor. Trade unions have directly and indirectly encouraged the "goslow" policy, first by insistence on all their members being paid a minimum wags irrespective of efficiency, and by the mistaken idea of discouraging and deterring others from doing a reasoneble maximum amount of work. Thy slowest and least skilled workers have been allowed to set the pace and also the standard- This been under the impression that it is injurious to their class to* do as much work as possible. Proof of the unsoundness of such principles should be given to the workers, who are, after all, reasonable human beings, eager and anxious to improve their condition. An organisation such as suggested, that would undertake this educative work, would be doing the comznu* nity eminent serivce. The new problems, and especially the economic problems, that will confront us after the war, will need to be carefully considered and boldly attacked if they are to be satisfactorily solved. New Zealand will be obliged to rely on its own financial resources, and whatever capital may be necessary for whatever purpose must be found within our own borders. The door of the London money market is sow closed to us, and, it is reasonable to assume, will remain shut for some considerable time. This may prove of some genuine benefit to us in compelling us to (be self-reliant. With the fall in the prices of our produce, it will be necessary literally to make two blades of grass grow where one grew before. Our national debt, wtiieh is now some £1150,000,000, will be greatly increased before the war is over; and the interest obligations, and the other war obligations, such as pensions, etc., will remain with us for years to come: Taxation cannot be lessened, but may be increased, and a time of stress may be before us. It is our imperative duty to take thought of these matters and to rnaike provision, not for the best that is likely to happen, but for the worst that can overtake us,

A critical position is Bound to exist after the war, and many proposals are being put forward for meeting the situation. Two conditions are essentia], viz.: Strict ecenomy and greater industry and production. Everyone can assist in obtaining the first by exercising strict economy in living, and by the avoidance of luxury. We must have greater production in New Zealand; the output of our primary products must be expanded, and the efforts of all should be concentrated on the atainmeirt of that end. We must not delude ourselves into a false security by cateh-phrases, the inventions of visionaries. A young nation has no use for dreams. After the war the prices of our products must fall, because our customers will be impoverished, and will not have the purchasing power. There will continue to be a demand for our meat, butter, cheese, and other products, but not at the prices of to-day. Examining briefly the prospects before our staple products, wool seems likely to' be in rather better demand than some of the other producrts. Europe support# 182,000,000 sheep, and her flocks have been enormously depleted during the war—reports state to the extent of 58,000,000 head. A large decrease in the production of raw materials can therefore be expected from that quarter. Stocks of woollen goods the world over will be at a low eWb. (Reserves which were on hand in 1014 have been consumed and not replaced. Germany, before the war, was a large buyer of Australasian wool, but her purchasing power after the war is bound to be very restricted, and there is, Ibejides. the sentimental factor of the British declining to trade with- Germany, or limiting to the lowest possible extent thbir dealings with that country. .The loss in this direction may be recovered by an increased trade with "Japan and the United States. Against these favoreWe factors must be set the measure of th® development of substitutes, which has' been broueht' to a fine degree «f (perfection in Ormanv, and also the' extent to which shoddy will figure in the iflp fabrics and materials. The discards ■w«fi«a.,cl»t2nßg of the soldiers Is brafe