AUSTRALIAN WOOL

Dominion, Volume 14, Issue 67, 13 December 1920, Page 8

AUSTRALIAN WOOL

THE REALISATION SCHEME CONDEMNED BY YORKSHIRE PAPERS •_,... , London, December 10. • Details of the wool realisation 6chomo have not been disclosed. The "Yorkshire, Observer" says the scheme would be regarded seriously in Bradford if it wore considered probable that tho British Government was likely to nssent to n project which amounts to n suggestion- that (lie Realisation Association should 'be aided to establish a monopoly Mii Australian wool. It is regarded as incredible that the Cab- ' inct would be so short-sighted as to connive at a plan which aims at making wool artificially denr nt the very timo when it is becoming cheap and is Teachin? n true economic level of value, capable, of restoring the confidence which is essential as a prelude to improved trade. The whole of the trouble in tho wool trado is trnceabl« to tho monopoly in Australian wool which arose through the British Government's ownership. Mr. Hughes's idea, the paper says, appears to be to hold up wool until a price can bo obtained; but wool will continue to grow, and the eventual result of Mr. Hughes's policy will be a bigger accumulation than ever and a more difficult problem than before. Tho "Yorkshire Post" eays: "Strong remarks are made in Bradford. This astounding proposal to victimise our wool' users and industries for thai benefit of Australian woolgrowers is in very bad taste 'after tho manner the Australian growers were rescued from what looked liko certain ruin by the Imperial Government purchasing their clip during thn war, when growers could neither have shipped nor sold tho greater part of their wool by any other means."—Aus.-N.Z. Oblo Assn.