Our main troubles for the moment are in respect of the rise in prices, as flour has gone up again and bread is now' 10d. for the quartern loaf, Which mears a higher cost of living. Meantime, although there.4s a determined effort by certain trades to reduce wages, I do not think this policy is likely to be adopted. The Gover: reduce numbers in the The Industrial Wages Board has declined to reduce the wages of the Reilwaymen, while~on the other hand—they Yefused to increase them. 'The Coal Commission is gradually coming down to the conviction that, the industry will have to find its own economic level. Hence, I personally think a determined effort will be made in the spring to force down the miners' wages, in which case we shall be faced with another great struggle. These wages are really quite low enough, and the majority of people frankly dp not think that this "step should be taken if it can possibly be avoided. the other hand, it is curious th the Coal Subsidy has enabled the coal producer to recapture the greater part of the previously lost export coal trade, which shows that the financial' margin between prosperity and failure is not a very wide one.
Text read from the printed page and cleaned; old type leaves the occasional error.