AGREEMENT ON WHEAT

Hawera Star, Volume LIII, 28 August 1933, Page 7

AGREEMENT ON WHEAT

GENERAL APPROVAL GIVEN LONDON PRESS OPINIONS HELP WITH OTHER PROBLEMS RISE IN PRICE LEVELS (British Official Wireless.) Received 1.30 p.m. to-day. RUGBY, Aug. 26. The wheat agreement is generally well received bv the Press. Several newspapers r.escribe it a.s an important instalment in the programme of economic recovery.

“The Times” considers the agreement nfhy help a solution of other difficulties which appeared insuperable at the World Conference. It adds : “The benefits to be expected are contingent, not merely upon ratification by the Governments, but also upon the effectiveness of the steps to bring about -a rise in world prices and therefore upon tlie way the importing countries interpret, in practice, the general undertakings given iu return for the very definite steps which tlie exporting countries have pledged themselves to take. These undertakings, in spite of their vague and indefinite character, are to be welcomed as the first real indication on the part of the countries which hitherto have pursued a policy of extreme agrarian protection that they arc prepared to consider some modification m tlie general: interest, provided the interests of their own producers are properly safeguarded.”. The “Morning l’ost” thinks the conference lias done a -useful piece of salvage work. “The plan itself is not heroic, but compared with the result of some other conferences it is a real triumph,” says the “Rost.” “It may also have 'advantageous secondary effects if it encourages farmers to substitute mixed farming for excessive reliance on one product.” The “News Chronicle” says: “The agreement represents essentially one more effort to raise pa-ices by artificial scarcity—a thoroughly vicious principle. The only ultimate solution lies in the willingness of European countries to abandon the policies, of economic nationalism which they have been pursuing at the cost of dear bread for their own people and ruin for fanners overseas.”,

Tlie “Manchester Guardian” also dislikes the restriction principle, but adds: “Cine surveys without hope the alternative —continuing glut added to each year by highly protected countries exporting a relatively small! surplus irrespective of cost and holding to raiisoan those better fitted to export, but dc-penclent upon exporting at a profit. If the Wheat Conference has saved the world from that madness it has not laboured in vain.”. The “Daily Telegraph” hopes the agreement may lead to a further measure for organised production of marketing a, product which plays so great a vital part in international economy. Following the wheat agreement London options rose about 6d a quarter and Liverpool increased -by from 3' d to 1a cl per centa l.