SOUTH AFRICA’S WOOL.
SCHEME TO ASSIST PRODUCERS. By Telegraph—Press Assn—Copyright. Received May 27, 10.30 p.m. Capetown, May 26. Before departing for London, the Premier (General Smuts) announced that owing to the difficulties which had arisen over the proposal to sell this season’s wool clip to the British Government, and in view of the financial situation, he had come to the conclusion it was necessary, in order to assist the producers, to revive the scheme in operation before the war, under which banka which the Government guarantee, will make advances on wool. General Smuts added that wool and mohair farmers would be entitled to in advance up to 50 per cent, of the prewar prices, which would enable them to tide over the financial depression. He praised the liberality of the banks, which agreed to accept six and a half per cent, interest. He had impressed on the banks the grave necessity, owing to the present crisis, of not contracting credit too much.—Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 28 May 1921, Page 5
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164SOUTH AFRICA’S WOOL. Taranaki Daily News, 28 May 1921, Page 5
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