The Taihape Daily Times AND WAIMARINO ADVOCATES. THURSDAY, DEC. 9, 1920. NEW WOOL-PRICE VIEWS.

Taihape Daily Times, Volume XII, Issue 3649, 9 December 1920, Page 4

The Taihape Daily Times AND WAIMARINO ADVOCATES.

THURSDAY, DEC. 9, 1920. NEW WOOL-PRICE VIEWS.

With which i» irn!OrTw>r«»-Pd “Tbp Taibapp »pH Waima rinn News ”

The wool situation has cleared somewhat since yesterday owing to a pronouncement by the Prime Minister based on his communications by cable with the Director of Raw Materials in Britain. New Zealand growers are urged by Mr Massey not to sacrifice their wool at the absurdly low reserve put upon their bids by speculative British buyers, otherwise British buyers, otherwise British exploiters, who, in gratitude to New Zealand, farmers for supplying thdm with unfairly low-priced wool throughout the war, are out here to exploit him to the very last farthing. It is known to those British wool vultures that Tir.ifits on wool have not been sufli cient during the past four or five years to enable the average grower to fortify himself against anything in the nature of a slump, and they are here to devour his carcase. So far as the information Mr Massey has supplied goes it is satisfactory. It is l distinctly against farmers selling at the Christchurch sales held yesterday and against selling at any sales at prices less, proportionately, than those which are to rule at forthcoming British sales; but what are those farmers to do who must sell at once to pay their way? Mr Massey lias found means of helping those who should not require help, those, who stand well with the hanks as regards their financial position, but what is to happen to the men who banks will not look favourably upon? It seems that the men who are not financially strong are those the Government, should endeavour to save from the clutch of the exploiter he warn® farmers not to sell to. If it is true that values of wool, now held in stoeic by the Imeprial Authorities, being permanently maintained depended up--up the action of New Zealand woolgrowersl, it has become imperative that the New Zealand Government should take any step required for preventing the sacrifice. Mr Massey repeats a most vital warning from the British Authorities, as follows; “The Ministry has up to the present held stocks of New Zealand wool very firmly, recognising that current prices, especially of crossbred wool, mist be very near cost of production, and very grave consequences might result, if any further serious decline took place.’ 7 New Zealand farmers cannot now profitably produce wool, at sixpence a pound, whatever they may have done in past years, and Mr Massey, realising the fact, has, no doubt, done his best to save the average farmer from the sixpenny buyer. The men he should practicularly protect are those who are not in a financial position to make the stand he urges against selling to buyers be terms speculators. Mr Massey states, “In order to enable growers' who need financial relief to obtain it, the Government, after conferring with financial houses', has made arrangements with Banks under which growers will be able to obtain advances up to whatever is a reasonable limit in each case. 7 i’ It is in Mi Mo-m 7 s publication of this statement, there seems to be a rather bitter pill. The “reasonable limit” is going to differentiate, the financial position of the man seeking relief is to be a guiding factor with the banks to the poorer farmer’s disadvantage. Woolgrowers who are financially strong have no right to take advantage of arrangements the Government has made. Surely it was not for the benefit of those woolgrowers who stand well with the banks that Mr Massey is using the influence of the public credit? Wo do not Hite the statement: "Advances made to each individual depends not only upon the quality and condition of his clip, but also upon his general financial standing,’ 7 because, if a small man the value to pledge, wo cannot Understand why he should be offered up a sacrifice 'to the exploiters. On the other hand, is it suggested that some well-favoured wool-growers are to be

placed on a higher borrowing level | than others' not well-favoured I ft that is so the public credit and administrative machinery is being prostituted. Common justice demands that all wool-growers should receive relief according to their needs, and not one ounce of New Zealand wool should be face of the information, prices, from the Imperial Authorities. In newly settled districts, as the Taihape district for instance, there are but very few wool-growers that might stand, well, financially, with banks, and, presumably, as bank authorities are to have the determining of the reliefseekers financial status, Taihape district wool-growers' might experience rather discomforting and disheartening interviews with their respective bankers. The security for relief is the wool, that should he undeniable, and so long as the lender has incontestible Hen upon it we cannot understand what other influence there is that should be permitted to intervene to make the advance thereupon cithoir higher or lower than the appraisement indicates. We are not unmindful of the excellent results accomplished by Mr Massey, and bur suspicions of serious differentiation in the relic/ scheme he has evolved between wool owned by a grower in poor circumstances and that owneff by those some people are inclined to term wool-kings, may not materialise in fact. However, conditions of woo?marketing are such that oven banks arc particulary interested in the marketing of one mam’s wool and not !n that of another. No grower should j be allowed to suffer simply because j his wool does not go through any particular channel. Wherever and whenever the credit of the State is pledged, or the full influence of the Administration is involved every person for whom relief is. sought should have onn.nl right and treatment. It is certainly gratifying to learn Mr Massejy that no farmer need sell his wool for sixpence a pound if he can possibly hold on to it," and it will probably be found that the Government will see that not one ounce is sacrificed to the vultures that come here from Britain with their readied--11 p sixpences'.