WOOL INDUSTRY
(Press. Assn.-
SCHEME SUBMITTED TO SAVE GRAZIERS FROM COLLAPSE
— By Telegraph — Copyright).
Rec. Aug. 24, 10.35 p.m. Sydney, August 24. Giving evidence before the wool inquiry committee, Mr. L. Watson, of Goulburn, grazier, submitted a scheme for financing and stabilising the wool industry with the Commonwealth Government. He said the main features were that growers were to receive a guarantee of 15£d per lb, the Commonwealth to arrange finance, and the wool clips to be sold to the Wool Board along the lines of the Imperial wool purchase scheme during war time. A sum of £30,000,000 would be required to meet the deficiency between the present overseas price and the guaranteed price. The liability could be periodically retired by the establishment of a sinking fund created by revenue from the prosperous community. He emphasised that very little now was needed to cause a complete collapse of the wool in.dustry.
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Rotorua Morning Post, Volume 2, Issue 310, 25 August 1932, Page 5
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151WOOL INDUSTRY Rotorua Morning Post, Volume 2, Issue 310, 25 August 1932, Page 5
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