THE WHEAT INDUSTRY.

Auckland Star, Volume LVI, Issue 185, 7 August 1930, Page 8

THE WHEAT INDUSTRY.

(Published by Arrangement.)

Stabilisation or Speculation

The occasional outcry against existing duties on wheat and flour emanates j from a comparative few. This complaint, however, is taken up and ampli- | fied by many who are unable to separate the wheat from the chaff of the Specious j arguments employed to attack an industry of vital importance to New Zealand. • The violent fluctuations that- would be experienced with an open market for wheat and flour might possibly suit the speculating importer, but the regular consumers of wheat and allied products would be far worse off in the long run than under the present stabilised arrangement whereby are enabled to produce the Dominion's wheat requirements without loss to themselves. Certainly at the present time the world's wheat values have slumped owing to over-production, but history will assuredly repeat itself and overseas prices will again soar, as prices realised in other countries are well below the cost of production and l6ss wheat will be put down in seasons that follow. In this relation it is interesting to note that a, cable from Washington, dated July 2). states that Senator Thomas has .".skocl President Hoover to call an international conference of representatives' of wheat-growing countries to consider a plan to bring about a world-wide curtailment of wheat production. Now Zealand already imports more than it should for its economic good, yet in certain quarters the argument is put forward that the New Zealand wheat industry should be closed down and this country should become dependent on overseas supplies of wheat, flour, bran and pollard. Tt is impossible to believe that those who put forward this argument have the national welfare of this country at heart, especially in view of the satisfactory manner in which the New Zealand wheat industry has ueev stabilised.