WOOL INDUSTRY.
. STABILISATION SCHEME. A STATE GUARANTEE. . United Press Assn.—Elec. Tel. Copyright. SYDNEY, Aug. 24. Giving evidence before the Wool Inquiry Committee to-day, Mr L. Watson, of Goulburn, grazier, submitted a scheme for financing and stabilising the wool industry with the aid of the Commonwealth Government. The main features of the scheme were that growers should receive a guarantee of 15Jd a 'lb., the Commonwealth to arrange finance and the wool to be shipped and sold by a Wool Board on the lines of the Imperial wool purchase scheme during the war. A sum of £30,000,000 would be required to meet the deficiency between the present overseas price and the guaranteed price. The liability could periodically be retired by the establishment of a sinking fund created from the revenue from the prosperous community. Mr Watson said very little now was needed to cause the complete collapse of the wool industry.
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Waikato Times, Volume 112, Issue 18723, 25 August 1932, Page 7
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150WOOL INDUSTRY. Waikato Times, Volume 112, Issue 18723, 25 August 1932, Page 7
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