SALES OF COLONIAL WOOL.

Hawke's Bay Herald, Volume 14, Issue 1118, 14 January 1870, Page 3

SALES OF COLONIAL WOOL.

(From the "Times," August 18, 1889.] Sic, — Although I cannot altogether follow the views of a recent Melbourne correspondent on this subject, I entirely agree with him in the necessity of attention being given to the relations which growers or importers of wool have with the English market, especially the complaints upon the long intervals between the public sales, the doubtful effects of the present system of competition, and the heavy expenses arising from unnecessary warehousing. The closest attention should be paid to these and relative questions, especially because in Australia and New Zealand the sheep farmer finds his stock falling from 20s to 4s 6d per head, when wool in grease instead of being Is 4d is now at 9d per lb, and because, from. drought and injurious burdens on land there are difficulties in store, only faintly foreshadowed by the failure of perhaps the largest squatter in Victoria. Here it must be remembered thafc we are only receiving the return wave from the disastrous storm caused by the February sales. Worse results are to follow from the sales of May. And we should now be steadily preparing for financial consequences that must for years to come largely affect the welfare and prosperity of the wool-exporfcing colonies. I believe, then, that the system of public sales should be immediately inquired into and good service will arise from the question being fully ventilated. There is a committee of merchants possessed of either mysterious or mythical existence, which regulates the sales, determines the order in which brokers shall offer their quantities, and whether their own position shall be invaded by alteration of commissions. Ifc is assumed in some quarters thafc they can absolutely ostracize a broker who attempts to sell without their intervention as middlemen. Now, ifc is to this committee the importer should look for a reform, not difficult to apply, or needing any delay. The evil of the present arbitrary system is well described as 'one of the alternate glut; and short supply.' Ifc originated with slow sailing ships ; in tardy communication with the colonies ; and from following thafc tedious routine which free trade with steam by road and by sea have entirely abolished. In fact, the system of slow sales, being as effete as the old country w"aggon, should be everywhere abolished. Throughout Australia wool near the coast is shipped for the English market early in November ; from the upper country in December ; thafc from more distant stations in January aud the following months. Its punctual arrival may be reckoned on as certainly as any in the calendar. There should, therefore, be monthly sales, ships being taken in order of arrival, and brokers allowed, as now, to draw for their little priorities, determining for themselves the quantity offered and the manner of conducting the sales. There would thus be no such anomalies as wool arriving one day in February being then and there sold, while wool arriving the day following is actually left for the May sales. This in reality frequently happens, and it is the natural offspring of the present absurd method. By monthly sales there would be a steady supply to meet the demand, instead of 135,000 bales iv February, and another 218,000 bales in May. There would be no such great variations in price as now, or, if variations did occur, they would have some relation with the laws of trade, and not be leffc to the decrees of self-elected committees and irresponsible traders. These views are urged with a fall recognition of the fact that in all other respects the colonial growers and importers have a healthy, open, and active market. The brokers stand unquestionably high for ability, integrity, and a simple desire to do the best for their constituents, and if tho shackles are removed from them there may be only a few improvements further necessary upon which, if time and space permit, I may hereafter submit a few opinions for consideration. — I am, &c, An Anglo- Australian. ■