CRAZY POSITION IN DAIRY INDUSTRY
WELLINGTON, Yesterday (P.A.). —“We have got to a crazy position in the dairy industry,” said Mr. S. W. Smith, Parliamentary Under-Secre-tary to the Minister of Agriculture, in addressing the dairy conference. “We are basing our industry—and the whole economy of the country—on 2s 6d per lb. for butterfat. I remember in 1919-1920 how we were doing the same thing—basing our economy on 2s 6d a ib. for butterfat. “Subsequently, we had to pay for it.” Mr. Smith said producers must realise that Britain’s power to purchase at increased prices was limited and a halt must be called eventually. “’I ask you to consider the position and advise the Minister on your proposals to obtain more stability within the industry,” he said. Saying the industry’s reserve account totalled only £18,000,000, Mr. Smith said: “Your guess is as good as mine about how long that would preserve economic stability.”
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Wanganui Chronicle, 1 September 1950, Page 6
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152CRAZY POSITION IN DAIRY INDUSTRY Wanganui Chronicle, 1 September 1950, Page 6
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