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By E.H. (ed) Chamberlin

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Price control is not a job for the criminal courts. The possible remedies in this class appear to be two : publicity and tariff revision. The former should contribute to the latter. As to mergers, if they operate to the detriment of the public they are 'combines' within the meaning of the Combines Investigation Act. But no merger appears to have been deterred by this provision. To deal with the single-firm monopoly, we are dependent again on publicity and tariff revision (but in these cases international cartel agreements are most likely to render tariff manipulation futile).

31 Monopoly in Various Countries supervises the execution of orders as well as deliveries. Furthermore, it equalizes profits or losses arising on export account. (2) The Comptoir Franfais de l' Azote markets approximately 65 per cent of the output of nitrogeneous products. The Comptoir Franfais des Superphosphates distributes orders with the best situated firms having regard to considerations of transport and productive capacity. Asbestos producers fix prices, determine quotas, and compel members to pay a proportion of their profits into a central fund in case quotas should be exceeded.

During the inter-war period, banks played a major role in the financing of industrial development. The Banque de Paris et des Pays-Bas extended its interests in and control of the iron and steel and electrical industries, as well as in enterprises operating in the Colonies. The Banque de l' Union Parisienne pursued a similar policy, increasing its stake in shipping, oil, Colonial ventures, and iron and steel. Both set up specialized financing institutions, particularly in the electrical field, where the most widely known of these are Thomson-Houston, Compagnie Generate de l'Electricite, Societe Centrale pour l'Industrie Electrique, Union Houlliere Electrique, Societe d'Application Industrielle, Societe Lyonnaise des Eaux et de l' Eclairage, and Societe Schneider et Cie.

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