CANADA’S WHEAT POLICY

Hawera Star, Volume LI, 3 January 1931, Page 15

CANADA’S WHEAT POLICY

ASSISTANCE FOR 'GROWERS

OPENING FRESH MARKETS. (United Press Association—By Electric Telegraph Copyright). OTTAWA, Dec. 30. Speaking at Regina (Saskatchewan) -Oil Tuesday, the Prime Minister, Mr R. B. Bennett, said the financial difficulties of the farmers of Canada would he met by the creation of a private corporation.

In this the hanks, transportation companies, industrial concerns and insurance and mortgage companies would be shareholders.

The company will use its capital as n revolving loan fund from which money may lie loaned to farmers to assist them in extendng their operations into mixed farming. Mr Bennett stated also that the Federal Government proposes to offer the Provincial Governments wholehearted and immediate co-opei’ation in the efforts they are making to alleviate the suffering of their people during the winter and provide them with the best-grade seed for spring sowing. No steps will he taken to fix the price of wheat-. The Premiei- said thatjurisdiction to fix the price of wheat rested with the provinces, hut apart from legal considerations, it would he unwise to fix a price in excess of the world price because Canada, unlike the United States, could not hope to absorb her surplus wheat hy domestic consumption. Two other announcements of vital interest to wheat-growers were made by the Prime Minister. He said that word had been received that France will guarantee to buy at least from 7.000,000 to 9,500,000 bushels of the 1930 wheat crop. At the same time, arrangements were being made with a view to marketing wheat in China. The Canadian Minister to Japan, the Hon. H. M. Mnrler, was now en route to China to discuss the sale of millions of bushels of wheat to that country. The Government was prepared to provide credit facilities to China in order to open un such a valuable trade channel.

All- Dennett- said bo expected an agreement to be reached at the adiourned Imperial Economic Conference in Ottawa next summer, which would mean broader Empire markets.