BIG PLAN TO RESTORE JAP WOOLLEN INDUSTRY

Chronicle (Levin), 3 November 1947, Page 5

BIG PLAN TO RESTORE JAP WOOLLEN INDUSTRY

Received Sundav. 9.10 p.m. NEW YORK, Nov. 1. The Ameriean military authorities have laid down an ambitious plan to restore the .lapanese wool iiulustry largely with outside Jinaneial aid, says the • trade journal the Daily Nevvs Record in a Washington despateh. The key to the programme lies in the importation into .Japan of about 665,000 bales of raw wool this year and next to get Jajiane.ve wool plants in fnll operation. About oue third of this total will be turned into experts to pay for the eutire purehase. Bv proeessiug about 221.1 bales of tlie total to be imported il is estimated that 29,000,000 lbs. of wool linished products will be plaeed in Ihe export ]>ipelines for the future. Japan hopes to pay the bill for the whole elfort tli rough the eonversion of these jtroduets into foreign exehange. 'J'he balance of the wool will be used for domestie eonsumption. Quoting Mr. Weinstein Wilmer, of the Commerce Department 's Offic e of International Trade, the Daily News Record says tlie successful achievement of the programme depends on getting adequate supplies of raw wool, coal and dyes. A Canlierra message states that the Comniuiiwealth Government was prepared to supply -Japan with all the wool she could buy, said the Federal Secret.irv of the Associated Cliarnbers of Commen-e (Mr. Wilkins;. Tlie Minister for Commerce and Agriculture (Mr. Pollard. i-onlirmed -Mr. Wilkins' announcement. Mr. Wilkins said the volume of saies would depend on tlie amount of money Japan had with which to buv wool. The saies would probably amount to piore tlian 100,000 bales, worth more than £.'5,000,000.' Australia would receive this amount in dollars, some of which she would spend on buying silk and textiles from Japan.