New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-10
NEW ZEALAND
IN WAR TIMES
Her Share of the New
Prosperity - Compul-
sorry Arbitration.

New Zealand, like Japan, holds a
rather unique position in the world OF
finance and commerce at present, IN
that despite her active participation in
the war as a part of the United King
dom. she is actually sharing in the
war prosperity" a condition popu-
larly supposed to be confined to coun-
tries able TO deal with the war stu
alton as neutrals
Some interesting facts regarding
financial New Zealand during war
times were presented the other day
by Harold Beauchamp, chairman of the
board Of directors of the Bank of New
Zealand, speaking at luncheon given
in his honor at the Hardware Club by
Lewis +. Pierson, chairman OF the
board of the Irving National Bank.
The conditions existing in New Zea-
land, according to Mr.. Beauchamp, are
somewhat surprising. Money is ex-
tremely easy, and despite the war there
has been no lack of funds for the
prosecution ana development of en-
terprises throughout the dominion. In
the face of greatly reduced facilities
and the economic disturbance incident
20 the sending of so many thousand
producers to the European battle fields,
New Zealand's exports and imports
for the year 1916 are greater than
during any of the three preceding
years.
The part which the Bank of New
Zealand has played in the war IS IN
teresting. Since the outbreak 247 of
it's officers have joined the colors in
Europe, Of which thirteen have been
killed in active service and twenty
eight wounded in action. In order to
keen the activities of the bank up TO
proper point of efficiency in the abb
sence Of so mary of its regular per-
sonnet. the daily hours Of service have
been considerably extended and all
holiday leaves omitted. More than
one hundred and fifty lady clerks are
now being utilized in the different
colonial branches.
Mr. Beauchamp showed a keen IN
terest in the American labor situation.
Speaking of compulsory arbitration in
New Zealand, he said that this method
of settling differences between labor
and capital had been thoroughly tested
and had been found inadequate to cover
the case.
A law under the title Of the "arbi-
tration and Cancellation" act was
passed in the early COS and is still
actively in existence. This law endows
the arbitration court created with eX-
IRENE plenary powers there is hardly
any possible detail of difficulty be-
tween employers and employees which
may not properly receive considera-
ton. For "a time this law appeared to
be entirely satisfactory in its opera
ton. The general idea of the close
organization Of labor appeared to be
exceedingly popular, not only with the
public generally but with the court of
arbitration as we'll; as natural re-
suit complaints against employers
were numerous and popular, and
awards were almost invariably in favor
Of the employees. Later. however, this
popularity of organized labor waned
somewhat. due TO the recognition by
the general public OF certain dangers
incident to the placing of too great
power concerning the resources of the
country in the hands of class of So
ciety almost entirely without financial
or legal responsibility.
Then the real test Of the arbitration
law began. When an occasional award
of this court was issued against en-
ployes IT was found that its execution
was impossible. The strikers or the
employees individually had no tangible
assets; therefore fines could not be
collected the Imprisonment of such a
large portion Of the public as fire.
quently was concerned was impracti-
cable for. obvious reasons. And thus
the case stands at present. Strikes
occur. but the futility of executing
possible award of the court against
employees is so evident that employers
are generally disposed to protect their
rights In some other manner.