THE WHEAT HARVEST

Hokitika Guardian, 3 April 1928, Page 1

THE WHEAT HARVEST

MINISTER’S STATEMENT CRITICISED. AUCKLAND, March 30. “After the Government Ims given the wlientgrowers protection in order that they would he in a position to grow more wheat, the Hon IV. Nosworthy now complains of an unfortunate surplus. We can take it from this” said an Auckland produce dealer this morning, “that what they wanted aas a fortunate shortage.” When Mr Nooworthy’s statement deploring the surplus resulting from heavy yields in the south was submitted to Auckland produce merchants this morning general surprise was expressed at the tone of the. Minister’s remarks. “Largely through the efforts of Air David Jones, M.P., a report had been circulated in the south that speculators who had sold wheat for forward delivery as low as 5s 8d f.o.b were now attempting to “bear” the market m order to obtain supplies to cover those sales, and get out at a profit,” stated one merchant. “The Minister had hacked this up by stating that ‘lt was unfortunate, in a way, because millers were now able to bargain.’ The question of ‘bearing* the market, he said, in no wav affected Auckland traders. As a matter of fact, it was not necessary. There was undoubtedly a surplus over what was required for New Zealand consumption and world’s parity must prevail.” Mr W. H. Prentis, president of the Auckland Grain, Seed and Produce Merchants’ Association, characterised the Minister's statement as extraordinary. It was impossible to juggle with a protective tariff and production, he said. The simple fact must he obvious, that if farmers grew more wheat, the price must fall. They could not have it both ways. “The policy of protection for South Island gowers is most unfair to the hulk of the population in New Zealand” stated another merchant. He pointed out that in the North Island farmers had to go on the open market with their mutton, wool and butter, and compete against the world. Recently the Government had exhorted farmers to rear pigs for the pork industry, but when they went into the question they found that most of the pig food required was protected for the benefit of South Island growers. Increased production was what the country wanted, but he considered it yery difficult to reconcile the Government’s policy in this direction with the statement of a Cabinet Minister who regretted that there was not a deficiency in order that growers could make millers toe the mark.