FURTHER RELIEF

Wanganui Chronicle, Volume 75, Issue 270, 15 November 1932, Page 7

FURTHER RELIEF

AUSTRALIAN WOOLGROWERS HIGH EXCHANGE BENEFIT INQUIRY COMMITTEE'S REPORT. IB.” Telegraph- Press Association—Copyright Received Nov. 1 [, 11.55 p.m. CANBERRA, Nov. 14. A strong recommendation that the Commonwealth Bank Board, as sole custodian of the exchange rate, should use its best endeavours to maintain the present rate of exchange for the whole of the wool season, ending June, 1933 and that should a further catastrophic fall in wool prices occur it should in crease the rate, was contained in the report of the Commonwealth Wool Inquiry Committee released tonight by the Prime Minister The fact was emphasised that the depreciation of the Australian pound and the pound sterling accounted for 4d out of every 9d received for wool. The proportion had increased as the sterling had depreciated this year. The report also stressed that a reduction in costs was absolutely essential to ensure the permanent rehabilitation of tho wool industry. It is suggested that rail freights should be reduced at clast 30 per cent, and that the State Government should give the wool growers priority and consideration in all matters whore freights, taxes and similar imposts are concerned during the present financial year, and also that a general reduction in private business charges should be made with the greatest expediency. Tho Primo Minister has undertaken to convene a conference of representative of State. Governments and all other interests, in order to ascertain whether it is possible to adopt a concerted plan for the relief of tho woolgrowers among tho lines of ;hc report.