ENGINEERED FOR PROFIT

Evening Post, Volume CVI, Issue 68, 18 September 1923, Page 7

ENGINEERED FOR PROFIT

BRADFORD WOOL-TAX SCHEME.

LONDON, 17th September. Mr. William Mackinder, who carried out an anti-profiteering inquiry in the wool trade after the Armistice, was interviewed by the "Daily Herald" in reference to the Bradford motion in favour of the protection of the wool industry. He pointed out that the motion was not carried at a full meeting of the chamber, but that only 15 persons voted on the motion. He was convinced that the- protection desired would not benefit the consumer; the demand, therefore, being engineered solely for the purpose of increasing profits. If an import duty were imposed, Bradford merchants would fix their prices a few pence below the new French price, and the consumer would have to pay. The wool industry must adapt itself to lower profits. It could not hope to keep up the fatfulous profits of war-time, when epinners made up to 3200 per cent, above the profit allowed under the Government contracts. The Bradford Chamber of Commerce resloved to recommend to the Imperial Conference the imposition by the Dominions of an export duty on all raw materials of which they possess a virtual monopoly. It is assumed that such a duty would be levied on wools auctioned in London on foreign accounts : as well as on sales in the Dominions.