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The New Zealand Railways Magazine, Volume 8, Issue 5 (September 1, 1933)

National Job First

National Job First.

Comment on the London Economic Conference is, as a rule, tolerant of the attempt of the United States nation to solve its own internal economic problem in its own way, but it is noted in some quarters that Mr. Ramsay MacDonald, in his preliminary visit to President Roosevelt, quite failed to discern where the latter was going (or not going) and thus raised unjustified hopes. General opinion indeed is not only tolerant of the American attempt to “code” industry, but enthusiastically watches the progress of such an unprecedented experiment. When New Zealand created the Arbitration Court in the last decade of last century she gave power to fix wages and hours, but did not touch output and prices. Now the United States seems to be going “the whole hog.” Can this regimentation of industry, fore and aft, succeed? Its failure would disappoint; its success would be a world sensation.