MARKETING OF WHEAT

New Zealand Herald, Volume LXIX, Issue 21377, 29 December 1932, Page 7

MARKETING OF WHEAT

CANADIAN PLAN CRITICISED POLICIES OF POOLS ATTACKED WINNIPEG, Dec. 27 The national marketing agency demanded by the Saskatchewan Wheat Tool would hinder the marketing of Canadian grain, according to a statement issued to-day by the council of Hie Winnipeg Grain Exchange.

Such an agency, it continued, would ultimately involve tho country in financial difficulties, which the taxpayers ought not to be called upon to suffer, and would be injurious to producers and to the country. The causes of low prices for wheat, the statement adds* are complicated by a depression which is world-wide in extent and more acute than any previously experienced, affecting every industry and activity. The existence of a world wheat surplus, mostly held in North America, was tho chief reason for low prices, and in the accumulation of that surplus the policies pursued by the wheat pools here and the Federal Farm Board in the United Slates were the prime agencies. The statement contends that t|ie pursuit of these policies by,pools, in place of utilising established trading machinery, has involved tho Provincial Governments in very heavy losses, has compelled tho intervention of the Dominion Government in an effort to prevent even worse consequences,'and has overloaded the markets of the world with a large unsold surplus of wheat so that it has been impossible for prices to be sustained at a satisfactory level. ■ - ■ ■ '