FUTURE OF WOOL

Dominion, Volume 37, Issue 235, 1 July 1944, Page 7

FUTURE OF WOOL

Optimistic View Voiced In Australia (By Telegraph.—Press Assn.—Copyright.! (Special Australian Correspondent.) (Received June 30, 7 p.m.) SYDNEY, June 30. Recent “extremely gloomy views about , the future of wool have not only created t ' unwarranted nervousness among sheepowners but must disturb bankers an<L other institutions financing woolgrowers,”i says a statement issued by the National; Council of Woolselling Brokers of Aus-| tralia. The statement declares: “Aus-I tralia's wool clip has been, still is, and is, likely to continue to be the greatest con-' tributor to the nation’s income from exports.” . Pointing out that after the 1914-18' war the trade in textiles boomed, the : statement anticipates a similar boom after the present war and says that though accumulated stocks of wool are large, to a great extent they are of low grades. , Referring to artificial fibres, the statement says: “We do not desire to mini-' mize this competition, but we declaim against the continued pessimistic utterances of a few alarmists. Woolgrowers,' to meet this competition, should see that they improve the standard of their wool in every way possible.” Now bringing in more than £70.000,000 annually, the wool clip accounts for about half of Australia’s export income. Recently the Australian Woolgrowers/ Council has sought to increase the wool : research and publicity levy from sixpence to one shilling a bale. Supporting the suggested increase the “Sydney Morning Herald” says in a leading article that the value of the current levy scheme, instituted in 1936, lias been abundantly depionstratcd. Aus- ■■ tralia’s vital wool industry will be able to meet the new crisis, of synthetic fibres provided that the most is. made of opportunities open for reducing costs and improving the quality of the natural product. Full advantage must also be taken of new processes, such as those for unshrinkable woollens. Because of the importance of wool in the national economy the paper says the Government should ‘accede to the request for a ±1 for £1 contribution to an enlarged research and publicity fund.