CENTRAL WHEAT POOL

New Zealand Times, Volume LIII, Issue 12395, 15 March 1926, Page 8

CENTRAL WHEAT POOL

ADVOCATED FOR AUSTRALIA ' CO-OPERATION WITH CANADA Australian and N.Z. Cable Association. (Received March 14, 5.5 p.m.)

OTTAWA, March 12. Interviewed at Montreal, Mr McDonald, of South Australia, who represented ‘ Australia at the recent World’s Wheat Conference at St. Paul, Minnesota, said that immediately unou his return he would sound the present Australian wheat pools to ascertain the sentiment toward the ?reation of a central pool, similar to Canada, which he unqualifiedly advocates.

He pointed out that the Canadian pool sells 200,000,000 bushels, and if Australia with its 75,000,000 to 100,500,000 bushels of exportable surplus co-operated in putting the supply on the world markets it would he one of the most desirable steadying influences against the boosting of tbe price. Co-operation would mean treating tbe market in tho right way. Thus when it is depressed the pools could with benefit limit the supply, prevent the utter demoralisation which often results whgn there is no regulation. Mr McDonald stressed Australia’s superior position, particularly as it*) -wheats are harder and are "required for blending purposes. Australia could therefore make its influence fully felt in any scheme of co-opera-tion. He reiterated the necessity for unanimity in Australia. There was no need for the state pools to bo worked behind closed doors.

Asked whether Argentina might not ntillifv any effort nt world market regularisation bv sendine its wheat out r®"ardles? of th§ activities of the Canadian and Australian nools, Mr McDonald said that h© l>elieved that Canada and Australia, working together, would insure a steadying of the market. but that the co-operation of Argentina corH also bo expected in time.