Australia Sends Wool On Barter System To Japan
After earlier fears that the Japanese wool industry, if reconstructed, might prove a menace to British and Australian interests, the Australian Government has now arranged with General MacArthur’s headquarters to send wool to Japan on a barter basis. The initiative in the move is understood to have come from General MacArthur’s headquarters, according to advice received by the New Zealand Wool Board. Australia has recognised that wool is essential to the Japanese industry if it is to be rehabilitated, and has agreed to the barter arrangement in view of Japan’s inability to buy wool on the open market. The amount of wool to be sent to Japan will be limited, and the money earned by its sale will be used by the Commonwealth for direct purchases of Japanese goods. The Board of Trade in Tokyo estimates the present capacity of the Japanese wool industry as 222,000 bales a year, compared with 800,000 before the war. Consumption is expected to be up to 650,000 bales annually at the end of five years.
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https://paperspast.natlib.govt.nz/newspapers/BPB19480406.2.45.6
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Bay of Plenty Beacon, Volume 12, Issue 35, 6 April 1948, Page 8
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179Australia Sends Wool On Barter System To Japan Bay of Plenty Beacon, Volume 12, Issue 35, 6 April 1948, Page 8
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