WHEAT MARKET

Wairarapa Times-Age, 4 January 1939, Page 5

WHEAT MARKET

PROPOSALS FOR WORLD REGULATION CONTROL OVER DEALINGS. SUGGESTION THAT BRITAIN SHOULD BE UMPIRE. By Telegraph—Press Association—Copyright. WASHINGTON, January 3. It is understood that preliminary efforts to explore the international wheat questions before the London meeting have precipitated the problem of making effective any scheme for regulating the present chaotic marketing conditions. The Australian Association Press learns that, whereas the British Empire and the American producing countries, as probably having the most at stake, have tentatively discussed among themselves an interesting plan to achieve the desires result, it is not considered likely that either Australia or the United States will take the initiative in pressing for its adoption, principally for fear that it would immediately arouse the suspicion of other producers.

It is learn that the London meeting will decide whether a regular wheat conference should be held only if it is believed that a plan for quota marketing can be genuinely implemented. According to reports here, the United States has been asked to support a proposal under which the United Kingdom would be made the umpire or guarantor of the quota system and that, in order to make the umpire's decisions enforceable, the chief importing countries of Europe would undertake not to accept wheat unless it was officially certified as part of the exporter’s quota as fixed by the conference.

The essential feature of the scheme therefore, is a system of “sanctions” against violations of the so-called wheat treaty.