War on Profiteers.

Progress, Volume XV, Issue 2, 1 October 1919, Page 626

War on Profiteers.

The Prime Minister has made representations to the Board of Trade urging that the question as to whether or not profiteering is going on in the Dominion should be investigated with a view of instituting prosecutions in cases where it is considered that the law prohibiting unreasonable profits is being transgressed. In a memorandum addressed to the secretary to the Board of Trade, the Prime Minister says :

“Since I returned to New Zealand 1 some two months ago, I have beard many complaints about the profiteering that is said to he rampant in New Zealand. I have not, however, been able to get any really definite statement on the subject, but the fact remains that there is a great deal of dissatisfaction with the existing state of affairs. The members of the Board of Trade are probably in a better position to understand what is going on than any other three) men in New Zealand. I must therefore request the board to take advantage of The section of the Act of last year, which provides that traders making an unreasonable profit, comparing the war period and post-war period with the pre-war period, are liable to a fine up to £2OO, or, if a company, up to £4OOO,

“I know there are many factors in operation which cannot be dealt with in this Dominion, and I believe the public overlook the inflation of the currency which has been going on for years in every British country, and which was unavoidable under the circumstances that British citizens have had to deal with. But I am afraid there is no doubt that profiteering is going on, and I ask you to look seriously and earnestly into the suggestion that I have made, and if the board can find any reliable evidence to go upon, I request the members to have informations laid and bring some cases before the Court, so that we may ascertain exactly where we are and whether additional legislation is required during the coming session. ’ —‘ ‘ Dominion. ’ ’