THE SURPLUS WOLL

Grey River Argus, 1 December 1920, Page 3

THE SURPLUS WOLL

«» . FARMEES UNION TRIES TO SELI TO CONTENTENTAL MILLS. GOVERNMENT ASKED $0 FlNig ANCE THEM. " :

s- Ll'cr l-'ress Aatiooiauoo.j g WELLINGTON-, November 30. » At a meeting "of tno Dominion Exc s cutive of the Farmers ' Union to-da^ c Mr W. J. Poison (Wanganui.) suggest cd that the Government should be silked to inquire whether some of the Dominions coarse wool could be sold on credit in Germany. f He said that Britain was now tradi. ing with the Germans. It would bo - : in New Zealand's interest to lot - the German mills get sonia of their ! accumulated cross-bred wooK Th'o tferf mans had mills. They were' in great ' need of those materials that could he ' manufactured from coarse wools: but they were unable to pay cash for the raw material. Mr Poison then moved:— ''That the Government be asked to proscctitc inquiries as to whetiicr it is possible for , New Zealand to sell its wool to tiermany, through the Imperial Government, the New Zealand' growers assuming the responsibility and accepting approved bonds, iri whole or in part payment." Mr T. Moss (Dominion vice j>redident) said the Government had advised the farmers to hold their wool: but many of them could not do 'that, without assistance: and he thought the Government should be urged to produce a definite scheme of finance. He suggested that the Executive of their tinion should ask the Government to ,'juar antee advances on wool up to 60 per cent, of the commandeer' value of. wool. Mr Poison: — "It would be absurb/to ask that! The Government, he was sure, would not ma&e advances on any other basis than ttuit of the London parity, which was 4d or 5d per pound 'for coarse wool. After discussion, Mr W: - B. Mattieson moved an amended motion in the ', following form: — "That the Government be asked to inquire whether E.uropean woollen mills are willing to take a proportion of our cross : bred wool at a price equal to 75 per cent, of the commandeer price: payment to bo mado six months from the oate of sale, and to 1 be guaranteed by banks of standing.*' . This was seconded by Mr Poison, who withdrew his own proposal. ' The motion was carried. The Executive discussed the question of a Government guarantee of advances on wool, .>nd adopted the following mottion: — "That, in viow of the necessity for a definite scheme of finance, to enable small producers and soldier settlers to hold their wool, r.s recommended by Government, this Executive recommends the Government to advance 95 per cent, of the London parity l value of such wool: such advances to be made by financial institutions on the Government's guarantee.