WHEAT AGREEMENT

Ashburton Guardian, Volume 53, Issue 272, 29 August 1933, Page 5

WHEAT AGREEMENT

ARGENTINA MAY NOT SIGN.

PROMISE OF BENEFIT SOUGHT.

MATTER FOR CONSIDERATION

(United Press Aosociation—Copyright) (Received This Day, 10.30 a.m.) BUENOS AIRES, August 28.

TJhe Minister of Agriculture (Senor Duhau) stated that Argentina might not sign the international wheat agreement drafted at London,, but if the sacrifice imposed on Argentina promised to bring equivalent benefit in the future the matter would be considered with the required serenity and urgency.

WARNING BY SIR H. SAMUEL.

THE IMPELLING FACTOR

(Received This Day, 12.20 p.m.) MONTREAL, August 28

A telegram from Calgary (Alberta) states that a warning against the dangers of the wheat agreement, signed at London, was made to-day by Sir Herbert Samuel in-an address, in which he declared that the threat of - great surpluses at Home had more to • do with the depression in the price of wheat than any other factor. The new wheat agreement was admirable in its object, Sir Herbert /said, hut it did not make plain how increased wheat prices are to he obtained. The farmer, assured of higher prices, would naturally release more grain Diminished production, however, must go along with reduced exports or a great home surplus would he built up. This, he said, was exactly what, happened with the United States Farm Board and Canadian pools. Of the Ottawa agreements,. Sir Herbert said they compelled Britain to negative her policy of discouraging foreign trade. “We cannot hamper or destroy this trade, which' is three times that of our trade with the Empire,” said Sir Herbert. “Politically the Dominions are free. Economically, however, the situation is not so plain. Britain’s unemployment was largely due to the stoppage of emigration since the War. Indications of returning prosperity are evident in England.” TWO CONSIDERATIONS. CROPS IN AMERICA AND EUROPE. ~' J S’ (Received This Day, 12.50 p.m.) S. • OTTAWA,. August 28. -, The world-'wheat situation..is.dominated by two considerations, states the Dominion Bureau of Statistic?. The first is the greatly reduced north American production of cereals through drought and excessive ■ heat over the central areas of the United States and large areas of the Canadian prairies. The second is-the prospect that Europe having harvested a bountiful' crop, rendering import requirements- abnormally low. The 1933 season has been one of the most disastrous in the history of agriculture in Canada and the United States.

REDUCTION IN ACREAGE.

FIFTEEN PER CENT IN AMERICA.

(Received This Day, 12.20 p.m.) . WASHINGTON,. August 28

The (Secretary of Agriculture (Mr Wallace) to-day formally announced that a reduction of 15 per cent, in seeded acreage will be required of farmers joining the United States Government’s wheat plan,