AUSTRALIAN WOOL.

Taranaki Daily News, 13 December 1920, Page 5

AUSTRALIAN WOOL.

MR. HUGHES' SCHEME CRITICISED.

By Telegraph.—Press Assn.—Copyright. London, Dec. 10. Details of the wool realisation scheme have not yet been disclosed. The Yorkshire Observer states that the scheme would be regarded seriously in Bradford if it were considered probable that the British Government was likely to assent, to the project, which amounts to a suggestion that the Realisation Association should be aided in establishing a monopoly o£ Australian wool. It is regarded as incredible that the Cabinet would be so short-sighted as to connive at a plan which aims at 'making wool artificially dear at the very time when it is becoming cheap and reaching the true economic level of value capable of restoring the confidence which is the essential prelude to improved trade. The whole of the trouble in the wool trade 'l3 traceable to the monopoly of Australasian wool, which arose through the British Government's ownership. The Observer States that Mr. Hughes' idea appears to be to hold up wool until the price can be obtained, but wool will continue to grow, and the eventual result of Mr. Hughes' policy will be a bigger accumulation than ever and a more difficult problem than before.

The Yorkshire Post says that strong remarks were made in Bradford at this astounding proposal to victimise our wool users and industries for the benefit of the Australian woolgrowers. It is very bad ta3te after the manner in which the Australian growers were rescued from what looked like certain ruin by the Imperial Government purchasing their clip during the war, when t'he growers could have neither shipped nor sold the greater part of their wool by any other means.—Aus.-N.Z. Cable Assn.