WAS ONLY BLUFF.

Horowhenua Chronicle, 30 June 1933, Page 5

WAS ONLY BLUFF.

AMERICAN THREAT TO DUMP WHEAT.

(Sun Special). LONDON, Monday. Experts assert that reported , American threat to dump 360,000,900 ."bushels of wheat indiscriminately on the world's markets if Australia does not modify her opposition to the proposal foi restricting production, is merely bluff. It was pointed out to-day that American wheat interests dare not dump such a surplus because the resultant .■slump-in prices would defeat Mr Roosevelt's policy, and would also incense the farmers. Owing to unfounded rumours that Australia was‘wrecking the wheat dis- ' missions, French and American journalists have been circulating extravagant stories, , One asserted that America had proposed a 19 to 20 per cent, reduction in but , did not press it when ■she discovered that Australia would retaliate, for an acreage deficiency by increasing production. , One participant in the discussions ;said t'o-day that the assertions that Australia was wrecking the discussions ' represented the heig’ht of injustice. Admittedly she did not support restriction, but the Argentine's policy was by .no means definite. . *