"A. MAD CHASE."

Taranaki Daily News, 30 June 1920, Page 5

"A. MAD CHASE."

ORGY OF EXTRAVAGANCE,

By Telcyrnpl)—Press Association. Chriatchurch, June 28.

In his judgment in the profiteering charges to-day, Mr. S. E. McCarthy, S.M., discussing economic conditions, snid: "The considerable profits made out of land, commerce, and industry, and tho high rate of wages prevailing, together with an inflated paper currency, has given momentum to an orgy of private extravagance dominating sections of all classes. We have had the unthinking herd engaging in a mad chase after sensory pleasures, whilst the increased and increasing prices for literature has deprived well nigh all but the well-to-do of those solid joys of which the changes and chances of life cannot rob their happy possessors. We have been producing less and consuming more. Prices have become so inflated that persons with moderate incomes find it difficult, if not impossible, to maintain their families and themselves and keep out of debt. Out of this welter there has emerged the unscrupulous trader bent on exploiting to the utmost the necessities, the viceu and the follies of his fellowcitizens. The baleful activities of this class of trader are assisting to waft higher and higher the ever-soaring prices. These remarks are of mere general application, and the court is bound to say the evidence adduced would not justify the inclusion of any of the defendant firms in this category. These, however, are the economic conditions which led up to the passing of this statute (the Board of Trade Act, 1919), and it is in the light of these conditions that it must be interpreted."