The Daily Express of Wednesday published' a statement that the
National Light Castings Association, "controlling practically all the ironfounding trade of the country, have by a stroke of the pen raised the prices of nearly every form of metal work used in houses. Their new prices are from five to twenty per cent. higher, and the increases are back- dated from Monday last." As the Express points out, the Government and local authorities are thus faced with the problem of dearer construction in their struggle with the house famine. The Association, we are told, ascribes the need for higher prices to increased labour costs. The things affected are kitchen ranges, stoves, fireplaces, and so forth ; but it is significantly stated that in the case of baths, where there is foreign competition, no increase in price is listed. We must not condemn the Association absolutely till we have heard its defence, but we are bound to say that the note which the Daily Express tells us is put at the foot of the notices has a very ugly ring :— " For scheduled goods the above are the minimum prices to be maintained by merchants in order to comply with the conditions as to price maintenance set out in the circular issued by the secretariet of the N.L.C.A. under date February 1st, 1923."
Here, indeed, is an example of the consumer's difficulty being the producer's opportunity, whether he is labourer or capitalist. It proves of what first importance it is that production shall not fall below demand. Whenever that happens there is trouble. But will it not always happen when there is contraction a currency and so of credit ? The worst impediment to production is a shortage of the rolling-stock of industry.
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