WOOL OUTLOOK

Nelson Evening Mail, Volume LXVI, 10 April 1934, Page 5

WOOL OUTLOOK

FUTURE UNCERTAIN ,- INTERNATIONAL SITUATION;’ - . ,«• .~ O (United Press Association—By Electric »"Z‘ Telegraph—Copyright) SYDNEY, 9th April,; Addressing the annual conference the New South Wales Graziers’ Association to-day, Mr James Walker, president, contended that the general export _ - position did not warrant any alteration in the exchange rate, and any reduction ' would plunge such industries as meat',“Xl , butter, wheat, and base inetMs int&v I chaos. He appealed for the lowering '■ of trade barriers and hoped Australia' Uf would forsake the road which led to ......

prohibitions and restrictions, to national ’ 'V' self-sufficiency, and to economic warfare XrXi and eventually to war itself. Discussing J , the wool outlook lie said the. future is more than usually uncertain by reason of the unstable international situation. • .r-\

The atmosphere is one which calls : .foi\,,7,'X caution and consolidation of our posi- ” tion. There is a lack of balance in the;,.;.;.:

situation which demands that we should

be on our guard against the, creation of boom conditions with over-rapid ex; pension of credit, speculation, boosting..,.. of land values, and soaring of costs. ;