THE WOOL BALANCES
POSITION SHOUJJI BE HUCONSIBEIiED. Sir,—Many who without sufficient thought havo signed -Mr. Newman's blank transfer of the wool balance' o'.i the understanding that'tile Bum involved would prove "intinitesima!," '.viil, m vidw of the completely altered a-:pact, he greatly surprised to learn that he is claiming the amount in his place in ''nrliament. It lias been officially reported by the Imperial Wool Commissioner, now that he lias succeeded in effecting a reduction in freight from '2jd. to ljd. per 1b.,, that this sa'llo balance would' amount to "a very considerable sum," but without audi addition the cuonuous increase ill the price ot wool itself should liavo made Mr. Newman pause until he had' obtained express auiiiorily from those who have assigned, iuxLt a nii.-appre-hension b[ tho true pasit'.cn. The request to assign the balance was supported by the .Minister, and although neither intended to wilfully mislead the true position has been bo woefully as to justify tiio cancellation of all assignments. Our wool commandeer has been blundered from start to finish, and the prico now being assessed juid paid for greasy wool under flio Acting-Prime Minister's basic' price of ( J.Gsil. p°r lb., is actually less than that offered for it by tho Imperial Government by about Gd. per, lb., the shortage being computed at seven to eight millions sterling per annum. Such an annual shrinkage in the value of our exports cannot fail to show itself ultimately, and as tho. mistake occurrcd during the absence of Mr: Massiy ajid Sir Joseph Ward one or both' should institute an exhaustive and independent documentary examination of cables' and letters from the Wool Commissioner and place .their own constf action upon'them. Owners of slipe ivobl aro receiving the benefit of London pre-war prices , and freights, less lid. per lb, for charges, while greasy is subjeot to post-war freight' and charges amounting to about Gd. per lb,, and valuo assessed on Dominion »vci'a(;o prices, which makes the shipper responsible for extra post-war freight and charges. If the mistake is corrected it will cancel the offer of the Commissioner to divide profits which can nuv be correctly calculated—l am, etc., SHEEP FAItMEE.
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Dominion, Volume 12, Issue 309, 25 September 1919, Page 8
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359THE WOOL BALANCES Dominion, Volume 12, Issue 309, 25 September 1919, Page 8
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