INCREASED WOOL PRICE

Press, Volume LXXVIII, Issue 23715, 13 August 1942, Page 6

INCREASED WOOL PRICE

PAYMENT TO GROWERS GOVERNMENT SUGGESTION CRITICISED The suggestion by the Government that portion of the 15 per cent, increase in the 1942 wool price granted by the British Government should be put into a trust fund for the woolgrowing industry to meet post-war needs was commented upon by the president of the Canterbury Sheepowners’ Union (Mr E. Hay) in his address at the annual meeting yesterday. He said it was surely a drastic departure from established principle should the suggested compulsory resumption by the Government of any individual woolgrower’s money due to him in terms of a contract with a purchaser outside New Zealand, be,enforced.

“You are all aware of the suggestions made by the Government as to the method of payment to growers of the increase in price paid by the British Government in terms of the wool purchase contract with Australian, South African, and New Zealand growers,” said Mr Hay. “You will no doubt be waiting for a satisfactory explanation as to why New Zealand growers should receive different terms of payment to that of growers in South Africa and Australia.

“I cannot believe that arbitrary interference in the terms of a contract with a buyer outside New Zealand could have been seriously suggested, as if persisted in, it would have created a situation under which the Government would have the right to take away the property of any section of the community for any purpose without compensation and without the consent of the owner. If this is accepteu then it will mean the end of security in property rights in the future.”