The Daily News. MONDAY, JANUARY 3, 1921. WOOL REALISATION.

Taranaki Daily News, 3 January 1921, Page 4

The Daily News. MONDAY, JANUARY 3, 1921. WOOL REALISATION.

The latest news concerning the Australian scheme for controlling the sale of the surplus wool indicates that the proposals, subject to certain modifications, have been accepted and will be carried out. The opposition of the wool traders and users appears to have resulted in important concessions being made whereby their interests will be safeguarded. This is only right, especially in view of the main feature of the problem being how to get the wool into consumption. By. making the scheme more acceptable to the trade, and thus removing the intense hostility which greeted the proposals when first made, the possibility of serious trouble and friction has been removed, and a way opened up that by careful and well directed management may lead to a recovery in values that will appreciably benefit the producers. Sir Arthur Goldfinch (Director of Raw Materials in Britain) has handled this delicate business with commendable skill and success. The proposals, which so far only affect Australian wool, but will be extended to that of New Zealand, provide for half the surplus wool acquired by the British Government, together with half the cash surplus, handed over to a co-opera-

tive association representing the entire sheep-farming community of Australia, the directors being thoroughly qualified and responsible men of business to be appointed by the British Government. The British woolgrowers have made their assent conditional on the textile trades being represented on the directorate, as well as on the syndicate. It is also understood that the Imperial Government will retain the right of veto over the real- \ isation association’s policy, and over the nominations to the directorate. It is considered also that the proposals contain nothing affecting the normal course of business in the Australian or British wool markets, and as the new clip will not be subject to the association the flow of wool from the Dominions should continue to . the full extent of the industry’s -e--quirements, while the absence of restrictions and preference will as nearly as possible restore pre-war conditions. Under these circumstances it would seem that the scheme, if rightly carried out, I should prove a solution of the I existing problem, besides extricating the British Government from a very difficult position. The experiment, moreover, is one that should be watched with interest, ‘hot only by reason of its being based on co-operative lines, but mainly because it may prove the pioneer of a new system of marketing the produce of the Dominion by means of a permanent association in Britain representing the overseas producers. The High Commissioner’s office has been more or less useful in the past in connection with matters concerning the disposal of our produce, but conditions have altered so materially that the time has arrived when the best interests of the producers should be entrusted to ' their own representatives. All that is required in order to make a success of such a scheme is the selection of directors who will not only enjoy the confidence of the producers, but will be able to rely on the co-operation of the British Government. One of the outstanding lessons of the war was the necessity for making the Empire as far as possible self-contain-ed. To do this it is essential there shall be unity of effort and perfect accord. The Australian wool scheme may also be regarded as a step in the direction of self-depen-dence on the part of the Dominions, as well as a move towards a business-like method of marketing produce. If this should be the ease then from out of the wool crisis there will arise much good.