FORCING DOWN THE WHEAT PRICES

Dominion, Volume 8, Issue 2417, 24 March 1915, Page 5

FORCING DOWN THE WHEAT PRICES

ACTION BY THE INDIAN GOVERNMENT

Delhi, March 22. •" 111 the Legislative Council a resolution has been moved to prohibit tlio export of wheat until tlio price fell equivalent to seventeen pounds for sixteen penec. The Hon. AV. 11. Clark, C.M.G., member of the Viceroy's Council, announced that the Government proposed to assume control ol' the export trade, following on the lines that no wheat bo exported savo on Government account from April 1 next to March 31, 1916. Loading export wheat firms have employed agents to buy on commission at the prices indicated by the Government. The Government will take the profit which represents the difference between tlio world and Indian prices, the latter beinc kept up artificially. The price at which the Government will commenco buying has not been announced, but it will be relatively high compared with the prices to be offered later. The Government hope in this way to bring prices steadily and surely down. The prices in effect will be regulated through the export trade in the interests of the consumer. WHEAT SUPPLIES FOR WEST AUSTRALIA. Perth, March 23. The Minister for Lands states that Government has arranged for a supply of overseas wheat to enable the flour supply to meet normal requirements.