“IN THE ABSTRACT.”

Gisborne Times, Volume XXVII, Issue 2502, 15 May 1909, Page 7

“IN THE ABSTRACT.”

With the subtlety as comes to rulers in the countries where rival interests clash, Mr. Murray,- Premier of Victoria, answered the deputation from the Trades Hall, which urged that at the beginning of each year the price of flour, and bread for the ensuing twelve months should bo gazetted. Mr. Murray said he ‘‘agreed with the deputation in the abstract, but public opinion was not ripe -for. the change.” Wliat did the Premier mean by “in the abstract?” Did lie indicate that it would be a good and glorious thing to know-in January that the price of bread in December would be at a modest 3d the 21b loaf? It would indeed be a comfort to the consumer to have the staff of life aii fixture in the corner, with the certainty of a uniform substantial length for 6d. But this dream is a thing of which the business of wheatgrowing will take no account, just now. To fix a price for such a variable commodity as wheat for twelve months implies the placing of an industry in a strait-jacket. The sequel, apparently, would be that the State would have to take charge of the bread business, from scpcl to cottage-loai, but oven tlion tlio price would not necessarily be known definitely in advance, for the business might be run at a loss, to be borne by the breadeaters. It is very likely, therefore, th&t the Trades Hall s scheme must remain in the beaut-mu.-dream-land, “in the abstract,” for an indefinite time to come. The proposal is .characteristic of the attitude or some sections of the Labor Party towards the mighty problem of .economics.. They sde all thdevil wrought by gambling' in “futures” on the American, and other stock exchanges, and they noinc that the euro lies in an Act ot Parliament to fix prices over a long period. Governments may do something to check deplorable gambling in the people’s food, but they who seek to 1 check “gambling in futures” cannot themselves indulge in “gambling in futures” by fixing prices twelve months ahead.—“ Evening Post.”