AUSTRALIAN WOOL PLAN.

New Zealand Herald, Volume LVII, Issue 17652, 13 December 1920, Page 5

AUSTRALIAN WOOL PLAN.

INDIGNATION IN BRADFORD.

A MONOPOLY SUSPECTED. A. and N.Z. LONDON, Dec. 10.

Details of the Australian wool realisation scheme have not yet been disclosed. The Yorkshire Observer says that the scheme woura be regarded seriously in Bradford if it were considered probably that the British Government was likely to assent to the project, which amounts to a suggestion that the Realisation Association should be aided in establishing a monopoly of Australian wool. It is regarded as incredible that the Cabinet could be so short-sighted as to connive at a plan which aims at making wool artificially dear at the very time when it is becoming cheap and reaching its true economic level of value, thus restoring confidence, which is an essential prelude to improved trade. The whole of the trouble in the wool trade, the Yorkshire Observer adds, is traceable to the monopoly of Australian and New Zealand wool. which rjto&e through the British Government's ownership. Mr. Hughes' idea appears to be to hol3 up wool until the price asked can be obtained, but wool will continue to grow, and the eventual result of Mr. Hughes' policy would be a bigger accumulation than ever" and a more difficult problem than before.

The Yorkshire Post says that strong remarks were' made at Bradford at thiij astounding proposal to victimise British wool users and industries for the benefit of the Australian woolgrower. The proposals were in very bad taste, after the manner in which the Australian growers had been rescued from whnt looked like certain ruin by the Imperial Government purchasing their clip during the war, when the growers could neither have shipped nor sold the greater part of their wool by any other means. LOCAL WOOL INDUSTRY. MR. HUGHES' ADVOCACY. A. and N.Z. MELBOURNE, Dec. 11. Mr. Hughes held a conference with representatives of the woollen industries and stressed the urgency of the Commonwealth vigorously promoting manufactures. The Government would assist in obtaining machinery for the work of organisation.