URGENT RELIEF

Rotorua Morning Post, Volume 2, Issue 380, 15 November 1932, Page 5

URGENT RELIEF

(Press. Assn.-

for wool growers concerted action needed TO SAVE PRIMARY INDUSTRY AUSTRALIAN PQSITION

— By Telegiaph— Copfright).

Rec. Noy. 15, 12.15 a.m. Canberra, Nov. 14. A strong recommendatiop. that the Commonwealth Bank Board, as sole custodian of the exchange rate should use the best endeavours to maintain the present rate of exchange for the whole of the wool season ending June, 1933, and that should a further catastrophic fall in wool prices qccur, it should increase the rate, was contained in a report of the Commonwealth Wool Ihquirjr Commission released to-night hy the Prime Minister, Mr. J. A. Lyons. The fact was emphasised that depreciation in the Australian pound sterling accounted for fourpence out of every nine'pence received for wool. The proportion had increased as sterling depreciated this year . The report also emphasised that reduction in cost was absolutely essential to ensure pennanent rehabilitation of the wool industry. It is suggested that rail freight should be reduced by at least 30 per cent. and that the State Governvents should give the wool grower priority of consideration in all matters where freights and taxes are concerned during the present fipancial year, and also that reductions in private business charges should be made with the greatest expediency. The Prime Minister has undertaken to convene a conference of representatives of State Governments and all other interests in order to ascertain whether it is possible to adopt a concerted plan for the relief of woolgrowers along the lines of the report.