WAR ON RUBBER PRICES

Taranaki Daily News, 2 January 1926, Page 11

WAR ON RUBBER PRICES

restriction of consumption. By Telegraph—Press Assn.—■ Copyright. Washington, Dec. 29. Mr. H. C. Hoover (Secretary of Commerce) in an interview voiced an urgent plea for the co-operation of the American people in “Hooverising” rubber. He declared that the United States would be demanding eight dollars a bushel for wheat and seventy-five cents a pound for cotton if she followed the example of Britain in boosting the prices of rubber. “Our job is to use as little rubber as possible,” Mr. Hoover declared. I have enlisted the support of automobile makers

and -users in a campaign to reduce rubber consumption. We are not in the midst of a genuine rubber famine, but purely an artificial one created by production restrictions for the purpose of advancing, prices.” Mr. Hoover added that the plan included, (1) the discouragement of bankers to give American credit for the support of British combinations; (2) a systematic campaign of conservation of rubber when prices are extortionate; (3) stimulating the we of substitutes; 14) stimulating the production of rubber in countries where price fixing is not so likely; (5) the institution of properly controlled machinery to prevent American rubber buyers competing against each other.