THE PRICE OF WHEAT.

Auckland Star, Volume XXXV, Issue 251, 20 October 1904, Page 3

THE PRICE OF WHEAT.

PROPOSED FARMERS" COMBINE. | '•IMPRACTICABLE AND UNDESIRABLE." (Special to "Star."') CHRISTCHURCH. this day. At a meeting of the North Canterbury executive of the Farmers' Union one" of the members (Mr Devereux) delivered an address in favour of a scheme for regulating the price of wheat. He stated" that three-fourths of the wheat produced in the colony was required for consumption in the colony. If the farmers prodnced no more wheat than was required in the colony the price would be regulated by the price at which wheat imported from Australia, but, since there was a surplus for export, the price of the whole output was determined by the. rate offered in the London market. If the farmers, instead of selling their grain to merchants at the buyers' prices, would agree to place it in the hands of co-jperative societies in the different centres the societies could combine to treet the wheat scientifically—that waf to sey. they could export or sell to exporters the surplus not required by the colony, and could fix the price for the rest at a little less than that at which wheat could be imported from abroad. By doing that farmers could ensure a perpetual price of not less than 3/G per bu«hcl for their wheat.

Mr G. W. Leadley said that the theory of combination was one of which he thought they should fight shy. The best way of regulating the price of wheat would be to reduce the wheat-growing area by 25 or 15 per cent. Over-produc-tion would then be avoidrt 3 ,, and insured against, and there would be nothing to prevent the farmers obtaining 4/ a bushel for their wheat every year.

A third member said that no effort, could be made to regulate the price of wheat until proper information as to the .amount produced each yevr was procurable. They ought to show the Government that They must have reliable statistics, and not figures that were useless for sis or nine months in the year. The method of collecting statistics was not satisfactory, and the delay was one of the worst features. .Surely statistics could be made up in a few days, and could be available when useful.

A letter from the president (Mr J. Studhokne) was read in reference to the scheme. He stated that an attempt to form a combine and fix price, in such a product, would be certain to bring a great dea.l of odium upon them, and might lead to prohibitive legislation. They should therefore feel very confident that it was practicable before they decided to try it. The great difficulty he foresaw was that of getting all actual and possible grain growers, or even a large majority of them, to agree to limit the*ir own freedom, and unless the scheme was adopted and loyally carried out by a large majority it must fail. The millers' combine, though the members concerned were so very few. comparatively, had apparently fallen through.

In reply to Mr Leadley's remarks Mr Devoreux said that the reduction by 25 per cent, of the amount of wheat grown would be disastrous to the colony. They must grow a surplus. The Flour Millers' Combine was never stronger than at the present moment, and Mr Stuillioirne -was mistaken in thinking -that it was failing. He wished to remind them that, they should" n«t depend on one class of their produce for the export surplus they needed. Their wool was up, but they should not have all their eggs in oue basket. .So long as the country had to pay interest on the National Debt there must be something to sell in order to provide money for the interest, and they must therefore have their wheat to sell as well as their wool and ran'ton.

(By Telegraph.—Press Association.)

CHRISTCHURCH. this day

The executive of the Fanners' Union was addresse by W. G. Devereux, loc.U auctioneer, who urged the formation of a combine by all farmers to deal -with the colony's wheat supply and secure fixity of reasonable prices to producers. Discussing the scheme, members generally expressed the opinion that the formation of a combine would be impracticable and altogether undesirable, as likely to bring farmers into bad odour.