A FEELING OF DISTRUST.

Wairarapa Age, Volume XXXII, Issue 3155, 5 April 1909, Page 4

A FEELING OF DISTRUST.

"The attitude in England toward ! the colonies," said Mr C. C. MacMillan, who has just returned to Auckland from abroad, in the course of an interview, "is very distrustful, and there is a great difficulty in getting capital either for Australia or Mew Zealand investment. Many large enterprises, which could have got money from Horn*! some years ago find itvimpossible to get it now. Asked to explain the reason for this attitude, trore particularly as regards New Zealand Mr MacMillan replied that whilst in England New Zealand was admired in a way capitalists did not like to entrust their money to New Zealand. This was largely on account of onr legislation. The arbitration lawa of the Dominion were an example. "In England," said Mr MacMiliau, "the trades unions seem to have more influence over their members than is the case in New Zealand, where there have comparatively recently been several strikes. What they say in England is that the employer in New Zealand is compelled to obey the Arbitration Court, or to pay fines or penalties if he fails to do so —or in the alternative to sell off his machinery, and perhaps lose half his capital—whereas the men can refuse to obey an award, and there is no hold on them. It is also felt at Home that here is u n fairness in New Zeal-, and laws that fail to compel both sides to obey awards. In many of the English coal mines operations have been carried on for years without any difficulty with the men, because they have a basis to work on. This is not so in New Zealand. It is the knowledge of these facts that deters people at Home from investing their money here."