MR. M›CURDIE ON TRUSTS.
SHOULD PROFITEERING BE
CRIMINALIS
Mr. C. A. McCurdie, Parlia- mentary Secretary of the Ministry of Food, addressed a meeting of the Consumers' Council recently on trusts and trade combina tions.
While admitting that trusts conferred certain advantages on the public. by eliminating waste- ful competition, he said that in this country they enjoyed greater freedom from supervision than in any other, and quoted from the laws in a number of countries where profiteering is a criminal offence.
The small profiteer was irritat- ing, but the combines were much the greater evil. and Mr. McCurdie said it might be desirable to re-enact the old statutes of Britain which made profiteering a criminal offence.
Mr. McCurdy said: There is no subjeet which interests the British public to-day half so much as the cast of living. The price of food, clothes, furniture, of everything we need for our com fort or our baze necessities-these things interest us far more than the terms of peace. A great many people would be quite will- ing to see the Kaiser go free if în could hang "8 his stead they profiteer.
I think in our indignation at the small shopkeeper who occasionally asks too much for a lettuce we are losing sight of the really big offenders-the great trusts and trade combinations which live, and move, and have their being for the sole purpose of controlling prices, not in the interests of the consumer, but of themselves. These great or- ganisations which now dominate the commerce and industry of the world have increased en- ormously in power during the war. It is perhaps true to say that the economic era of free trade and free competition longer exists" in many of the most important industries. It has been replaced by a system of capitalist combinations which have eliminated. competition in any real sense of the word, and now control the price of virtually everything we purchase.
NOT BENEVOLENT SOCIETIES.
no
I fully realise that these com- binations confer great benefi s upon the community. They eliminate wasteful competition: they introduce technical and scientific improvements into in- dustry; they are, indeed, absolute- ly necessary if British trade is to compete successfully with the organised manufacture of other countries in foreign markets. But if we consider their influence upon prices, it is safe to say that the lowering of prices very rarely forms part of their programme. They are formed for the express purpose of preventing price-cut- ting, of maintaining or enhancing the profits of the product and dis- tributor; they are not formed as benevolent societies for the protection or benefit of the con- sumer, although ingidentally he does derive certain benefits in some cases.
The United Kingdom is a kind
of Alsatia, almost unique among
the great commercial countries
THE HONGKONG
NOTICES
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Victor
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"If it hasn't this trademark
it isn't a Victrola
You can readily identify the Victrola by the famous Victor trademark, "His Master's Voice." It is not a Victrola without the Victor dog. This trademark is on every Victrola. It guarantees the quality and protects you from inferior substitutes.
The word 'Victrola" is also a registered trademark of the Victor Talking Machine Company. It is derived from the word "Victor" and designates the products of the Victor Company.only.
As applied to sound-reproducing instruments, "Victrola" refers only to the instruments made by the Victor Company-the choice of the world's greatest artists.
Look inside the lid-insist upon seeing the famous Victor trademarks. On the pörtable styles, which have no lia, the Victor trademark appears on the side of the cabinet.
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MANY WOMEN TO-DAY
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LAZARUS' RIMLESS GLASSES,
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ONE CENT PEK WORD FOR EACH INSERTION. Adværk somerly Bok Mengaid shall be changed at the rata of two cents per won GUAS WANTED IN
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FOR SALE oF TO LET on terms per month very moderate. long lesse FURNISHED or Apply Bor 7 elo "Hongkong UNFURNISHED from October Telegraph.
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FOR SALE. FOR SALE Mount Gough
No. 131 The Peak. 6 roomed house with large garden. Apply Loxley & Co. York Buildings.
1st 1919 No. 96 The Peak, (End House of Stewart Terrace) Hot Water throughout. Double Grass Tennis Court with Pavillion and large Kitchen Garden Apply Williams. Lowe, EA. M. Bingham & Matthews, Chartered Bank Buildings.
FOR SALE & the Peak, 5 cellent condition with tennis court and garden. Area 25,000 sq feet. Low prica. Apply to Linstead & Davis.
roomed Bangalow in ex-
MACARONI PASTE STARS, EGGNOODLES, VERMICELLI,
AND ALL KINDS OF SOUP STUFFS.
ALL on Pastes bear the Boozer label and are made from Flour of the Best Quality containing a large percentage of Ginten. Starch and Gluten are the principal components of Flour. Gluten easier to digest and contains more antriment than Starch. Yanufactured under the most sanitary conditions.
Large quantities, have been exported to rarions important citirs in the World.
Tetins moderate, especially for Agencies Onless executed permply. THE HING WAH PASTE MANUFACTURING CO. LTD. Head Offon: No. 472 43, Coquaught Road, Deanal, Hongkong; Telepaone No. 129 & 2283 Principal Factory: No. 71. North Soochow Road, Shanghai, China; Telephone No. 8I35. Branch Factory: Wing Hing Street, Canseway Bay, Hongkong Cable Addrem: "HrstwaM.”
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Telephone No. 1977.
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LADIES AND GENTS TAILORING DRAPERS, &c.,
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of the world, in allowing to trusts 1912 a permanent Commission In this matter of protecting the JARDINE, MATHESON & CO., LTD.
and combinations a freedom of was formed, called the Inter-public against the operations of
combinations their activities untempered by State Commission, by an Act trusts and trade supervision or control. Up to passed in that year, which has Great Britain is almost alone now we have disregarded the full powers to investigate the among the countries of the world example of the United States of profits of any trade or manufac-in the laisser faire attitude which America and our own
great facture, "to hear and deter-we have maintained. Mr. Mc-" colonial dominions, where the mine complaints, to issue in-Cardie then quoted from the laws trade combinations junctions, and to fix penalties against profiteering in Russia. enjoy no such liberty as they for disobedience to its orders." China, and Japan. enjoy here.
Similar laws exist in New Zea-i land and South Africa.
trust and
THE AMERICAN COMMISSION. If we turn from our own colonies
There was a time in the history of our own country, he continued. when there were statutes in force, some hundreds of years
the (ago, known as
Statutes
Profiteering on a small scale may be very irritating to the con sumer, but profiteering on a big scale by great trade combinations is, in the long run, a much more to the United States of America against Forestalling, Increasing, serious evil. In Canada the crimin-we find a series of statutes, some and Regrating, which made it a al law directed against roono- of which appear to be singularly criminal offence to buy up large polistic combinations makes it an ineffective, but are designed to quantities of any artice for the indictable offence for any person protect the public from the opera- purpose of selling at an unreason. to agree with any other person tions of the trusts. The most able price, to practise any artifice unreasonably to enhance the price: important of these Acts is the or device for the purpose of of any article or commodity which Federal Trade Commission Act enhancing the price of victuals, may be the subject of trade or of 1914, which established aor to buy victuals on the way to commerce. I should like to see permanent Commission with ad-market for the purpose of selling that law placed upon the Statute- ministrative and judicial func-them at higher prices. Such acts remained criminal acts book of this country. The Con- tions. That Commission has full bines Investigation Act of Canada power to investigate the business according to the law of Great provides for fall investigation into of any corporation engaged in Britain until these statutes were any combine which has the effect commerce; to examine its books; amended
It might
in 1844.
of increasing the price of any article and may require any firm to be desirable to re-enact them. of trade or commerce to the detri-cease from using methods of
ment of producers or consumers business which the Commission
on the application of six or more regard as unfair.
British Bubjects who complain A striking example of the use-PATENT EXPERT LEAVES £78,500. that such a combine exists. If ful work performed by this Com
Estate of the gross value of
on investigation the complaint is mission is the exhaustive inquiry £78,562, with net personalty substantiated, the facts are made which it has recently made into £26,021, was left by Mr. Arthur public and a criminal prosecution the operations of the Meat Trust John Walter, KC, of Rutland may follow.
which resulted in the voluminous Gate, 8.W, the famous patent In Australia faws for the pro-and detailed exposure of lawyer, who was killed on the Underground Ballway in April tection of the public, against American meat monopoly, wh price raising combinations have operations now extend far beyond last. He bequeathe the bole
his property to his wife, been in force since 1906, and in the American continent.
ENGINEERS & LAUNCH BUILDERS. MARINE MOTORS OF ALL POWERS
2 IN STOCK. Works:-Pootung, Shanghai.
Sole Agencies:-Sterling & Evinrude Motors. Makers'
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A.B.C. Boller Spamel.. Rexine Ltd. (Lanther-cloth) Edgar Allen & Co. Ltd..
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Regulators &c.'
Linotype'& Machinery Ltd- Pulsomter Engineering Co., Ltd T. & W. Smith Ltd. (Wire RopesL Imperial Light Ltd
M. Y. SAN & Co., Ltd.
Manufacturers of "Bee Brand "
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HEAD OFFICE
98-100 Queen's Road, Central, Hongkong.
chai Road, Hongkong.
Shanghai & Canton, Ch
NOTICES
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& CO.
LADIES' & CHILDRENS'
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SALE
FROM
August 29th
TO
September 6th
THE WHOLE STOCK GREATLY REDUCED
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CRAWFORD & CO.
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AT
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