NO CRISIS FACES WOOL GROWERS

Southland Times, Issue 24421, 29 April 1941, Page 5

NO CRISIS FACES WOOL GROWERS

LONDON, April 27. Prospects for the wool industry were the subject, of an address to the Royal Society of Arts during the week. The speaker was Mr Foster Duplessis, representative of South Africa on the International Wool Secretariat. He summed up by saying that no immediate crisis was facing Dominion wool growers, but South America was precariously placed. The United States was devoting huge sums to buying up South American surpluses. He predicted that the rapidly expanding American armament programme and the unprecedented increase in the consumption of clothing and wool would cause the United States to draw increasingly upon the Australian wool reserve there. Whatever America drew would be replaced in order to keep the reserve at £250,000,000. “It seems inevitable that post-war reconstruction vzill include international economic co-operation for the effective control of the industry,” he added.