BETTER TIMES FOR WHEAT GROWERS

Timaru Herald, Volume CXXXVII, Issue 19451, 28 March 1933, Page 12

BETTER TIMES FOR WHEAT GROWERS

CANADIAN MINISTER DECLARES SUPPLIES ARE SHRINKING.

Mr H. H. Stevens, Canadian Minister of Trade and Commerce, speaking in the House of Commons, said Canada would not have a burdensome carryover of wheat next July, the end of the | present crop year. And even if it were ‘ as great as last July (about 130,000,000 ! bushels), it would not be unfortunate as world w r heat supplies were shrinking and better times for wheat growers were in prospect. A general demand was tapping reserves of other exporting countries and Canada soon would be in the position of one of the few wheat exporting countries to have an important surplus. European markets were bare of wheat, said Mr Stevens. Russia’s winter acreage was the smallest in years and the Balkan and Argentine crops were below normal. These factors combined to improve Canada’s world position. The outlook was not gloomy, and if the Dominion launched a policy of curtailment of acreage it might merely stimulate production in other countries. Parliament is making good progress with its programme, and prorogation by Easter is mentioned as a possibility. There are, however, problems of first-class importance awaiting action. The standing committee on Banking and Commerce has been asked, for instance, to inquire into the broad question of public and private debts and interest rates in Canada , and their effect upon business and industry. Mr Alfred Speakman, Pro- , gressive member from Alberta, who moved a reference which the Government accepted, declared in his resolution that the heavy private indebtedness at high interest rates constituted “just as heavy and impossible a burden to the individual as do national and international obligations to the countries concerned.” There will be a long debate on the railroad problem, particularly in view of a strong campaign carried on outside Parliament, with the support of many newspapers, for amalgamation of the privately-owned Canadian National. A recent Royal Commission recommended that the systems preserve their identities and that compulsory co-operation bo provided as a measure of economy. This plan is likely to be accepted by Parliament.