DEALING WITH PROFITEERS.

Taranaki Daily News, 15 August 1919, Page 5

DEALING WITH PROFITEERS.

THE BRITISH BILL. CONTROLLING MOVEMENTS'-OF PRICKS. By Tolegrnpli.—Press A«sn.--Copyriebt. Received August 14, 9.2i> p.m. London, August 11. Sir Auckland Geddes, in introducing the Profiteering Bill, said the reduction of inflated prices was necessary economically in order to reduce the" imports and encourage the exports, also socially, because profiteering was a serious source of popular unrest. Many members opposed the Bill on the ground that it did not reach the real profiteers, only the retailers, and would unsettle trade by causing unnecessary alarm. The rejection of th Bill was moved by Mr. C. A. McCnrdy. The Parliamentary Secretary replied lhat the Bill represented only part of a wide plan to control the movements of prices. The latter would require prolonged inqufry and the establishment of local tribunals. Meanwhile the Bill was necessary to enable the facts to be ascertained. The present Bill did deal with the operations of bi.se business interests:, and provided machinery which could easily be enlarged.—Aus.-N.Z. Cable Assn. Received August 15, 1.40 a.m. London, August 12. Mr- Thomas said the opinion of the 'Labor Party was that the Bill did not deal with the right people. The real pauses of profiteering were trusts and combines. The Labor Party would support the second reading, but would amend it in committee. Sir R, S. Horne, replying, pointed out that the Bill gsve the Board of Trade power to make investigations, without which combines could not be broken or prices regulated. The Bill would also render great service in making people understand that in many cases prices were due to, : shortage of output, and that increased production was the best hope of decreasing the cost. The closure was carried by 251 to 8 and tho Bil!« referred to a committee of the whole House.