WOOL DISPOSAL.

Taranaki Daily News, 4 May 1921, Page 5

WOOL DISPOSAL.

AUSTRALIAN SCHEME DISCUSSED.

By Telegraph.—Press Assn —Copyright London, May 2. A leading importer, interviewed by the Australian Press Association regarding the wool discussion in the Federal Parliament, stated that Australia would make a hopeless mistake if she attempted to settle the wool difficulty by legislation, especially if it was in the direction of stopping shipments. It was useless to keep the wool in Australia, the only hope for the trade was to export. He approved Sir Newton Moore’s suggestion to sell to impoverished countries on long credits. This method would undoubtedly get rid of much stock, for there was a great shortage throughout the world, especially in Central Europe, of moderate-priced made-up material. The suggestion that Australia should purchase all the other wool was absolutely impracticable, for where could Australia find the money to enable her to do so.

He cordially welcomed Bawra’s decision to fix the reserves on the basis of the April closing prices.—Aus.-N.Z. Cable Assn. London, May 3. Another wool importer, interviewed, by the Australian Press agent, expressed the opinion that legislation aimed at circumventing the lean time inherent in the transition from war to peace conditions would not prevent, but only postpone and prolong, the agony. He believed the bottom of values had been reached. The revival, which had begun in Yorkshire but was now interrupted by the coal strike and the uncertainty about reparations, woulfd shortly reappear. The only hope of selling Bawra wool without a further slump was to spoonfeed the market, like an invalid, with the quantities absorbable. In meeting the new price levels the pastoralists must realise that they had had a good innings. There was no way out of the present bad times, except to go through them.