FOREIGN WOOL ' QUOTAS

Press, Volume LXXXIII, Issue 25135, 17 March 1947, Page 7

FOREIGN WOOL ' QUOTAS

PROPOSALS MADE IN U.S.

DOMESTIC PRODUCTION REDUCED

(Rec. 7.30 p.m.) LONDON. March 15. The House of Representatives Agriculture Committee, which is examining legislation to support the woolgrowing industry, now has six bills before it; four for the purpose of the imposition of quotas on foreign wool. Two would empower the Secretary of Agriculture (Mr Chilton P. Anderson) to sell Government-owned wool at prices permitting competition with foreign wool.

A bill introduced by Mr William Hill seeks an annual quota on foreign wool to support “as nearly as practicable the average price of wool produced in the United States” at the price level of 1946. and also “to ensure the consumption of each year’s domestic production.” Mr William Barrett wants a quota on foreign wools imposed “in such a manner as to support prices received by American growers to 90 per cent, of the comparable price between July 1, 1947, and December 31. 1947. The bill would also empower the Secretary of Agriculture to hold stocks of foreign as well as domestic wool as a margin against a short market supply. The Department of Agriculture fore- • casted that United States .wool production in 1947 would be 255,000.0001 b. or 25.000,0001 b smaller than the earlier forecast. The department said that this was the smallest production since 1925. and that growers would receive lower prices for the 1947 clip if the Government Support programme expired without renewal on April 15.