REDUCING SURPLUS

Rotorua Morning Post, Volume 2, Issue 406, 15 December 1932, Page 5

REDUCING SURPLUS

(Press. Assn.—

INTERNATIONAL PLAN TO STABILISE PRICES AMERICAN PROPOSAL

-By Telegrapli — Copyriglit).

Rec. Dec. 14, 8.30 p.m. . Huron, South Dakota, Dec. 13. An international conTrol of wheat production to reduce the world surplus and thereby stabilise prices, was forecast on Tuesday as the consequ|ence of proposed enactment by Congress of a voluntary domestic allotment plan. Mr. W. R. Ronald, one of the sponsors, stated that it was not only possible, but probable. Inquiries received, he said, indicate growing interest in the plan by Canadian and Australian observers in the United States. Great Britain adopted a plan of the same pinciple in May last, being the importers applied plan to the stimulation of production, but not using the production limitation view as proposed by the United. The adoption by Congress of this ' plan of control to the limitation of acreage of the individual farmer would set forth means hy which Canada, Australia, the United States and Argentine could effectively carry out an agreement for the curtailment of production and supply the balance on demand, and do away with the unsaleable surplus. This takes no account of Russia, whose troubles keep her out of the market for the time.