HARD FIBRES.

Manawatu Herald, Volume LIV, Issue 4415, 8 November 1934, Page 3

HARD FIBRES.

RESTRICTION DISCUSSED. ' The question of an international scheme for the restriction of production of hard fibres, with the object of raising prices, were discussed by the International Fibre Committee in September. The committee consisted of representatives of the Dutch East Indies, the Philippine Islands, Mexico, Tanganyika Territory, Kenya, New Zealand and St. Helena. Not having the authority to come to any definite decision itself, the committee resolved that the matter should be referred back to the various interests in the producing countries. Commenting upon the meeting of the committee, the Times stated: — “The device of trying to secure restriction of production by arrangement rather than to let equilibrium be established through the free operation of the price factor, has been tried by number of industries engaged in primary production since the war. largely because of the precipitate fall that has taken place in prices. Although the results have varied, in no case can it yet be said that restriction has proved to be an unqualified success, possibly because restriction seeks to deny to the world the benefit of increase productivity, by which alone the general standard of living can be raised.”