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TEXTILE CONGRESS.
EMPIRE'S WOOL TRADE.
'?.;. . . , t
Financial Question. .
Ijonrfftii. .Tune 10.
.: iMr. -John: Emsley, president ot; tne
Textile - Institution, in opening the Em
pire -Test Ue Conference at WemWey, an
lounced tlint the'institution .expected to
obtain shortly a iltoyal ? charter, wrnicn.
woulrtlift the textile teade to the status
of o .profesaion. . .' I
* The British. Wool Federation- presented
a paper deal-ing with the Empire's wool
supplies and -consumption. The: paper
emphasised the enormous' decline in
wool production during the last ._ fifteen
or twenty, years.. The/decline coincided
with a marked increase in the consump
tion, particularly Jn the last four years.
An appeal /was. made to the Empire's
I-ustor-i!iets (to redouble their' efTorta to
increase their Jocks; and thus increase
the Empire's resources in meatand wool
The paper praised the recent ipprove
ment in the South African clip; that
being, due largely' to the introduction of
Australian blood stock. '
It was suggested that, in view of the
economic conditions- in Australia and' the
breaking: up of slutions. tne world must
look more to'South Africa for imi in
creased production of good spinning me
rino. Stressing the growth in the con
sumption of wool, the paper, referred to
the ' astounding ? fact that' the post- war,
accumulations, of both 'fiawra' -and 'South
American stocks, in addition to thc.swi
sonal -: .productions, had been,-- absorbed
within three- years. It was said that re
sponsible opinion -'in the' wool trade;; did
not accept the view that the breaking up
of estates in Auabralia would' lead to an
increase. in Australian flocks.- The : hope
was expressed that 'alternative, areas for
larg-e stations in. order to increase7 the
waes of the Empire's 'flocks would ''be
developed in Australia, ' New .Zealand^
South -^Africa, and. Canida'-under. a'pro
perly organised campaign, 'b&cked by ^he
respective Governments. - New*7 Zealand
might inquire .whether Bombs were' not
being, slaughtered too' rapidly for meat.
?; air.vllarry -Dawsott- (wool- broker)'
warned the 'conference that if ' the Em^
pire's' pastoralist* did. not provide the
necesflaryVinere'ased : supplies' of 'iffod!
theyiwould. be provided in Asia, aid 'not;
ably; in\ China. .-The^'ool'tradc wi«:well
iotnaged at preneut atfbotli .ends' .but it
heeded .better financial . nrringemeritB;
particularly ,'in- ? Australia, where/, the
difficulties in- connection with - the flnanc
ing of the-purchase of thocrop at pre'
sent really 'amounted to an export tax, of
3} per 'cent, on Australia's wooll, clip. .It
.was. reuwrkaWe that; the Commonwealth
Bank. -which wa'g; formed to foster Aus
tralian industries, had -allied itself .' to
the Associated: Banks, and -' therefore
could -not' function as intended.' -,; ?\T&
Commonwealth ? Bank . .neld' . £29,000.000
worth, of, TTeasury.itonas, against: which
Treasury notes .could be: issued. Only
that:' day; he Trad, received' a 'cable 'ines
fiairetb the effect that home ond Cbntin.'
ental buyers 'found 4fc almost impossible
to obtain credits for the forthcoming
Sydney and Brisbane sales; .'He H6ped
Hint the Commonwealth would find quick,
ly .«ome means of relieving, the' situation,
which would .-(reduce' inevitably fay^from
5 to 7J per cent.', the prices which f row
.erscouid obtain.- '?' ?'?- :? -.'.'?'
i'Mr. W.'H; HiuiDury (general managfer
;.of ? the British' Cotton Growing Associa
ition) refld'a paper detailing1 the progress
;pf cotton production within, the 'Empitel-
3'Mr. -Daniel 'Jone»' (of- Queensland)
mamtained^that Queensland could; pro
duco' alU.of- the,; cotton' required ? --more
cheaply than. anySother portion of the
Empine: if .Great Britain's landless mil
lions were transferrtd syflteinaticallv' to
that;State;'^He added that he was await;
.ipf;Lnncashire's .verdict 'concerning '?Aus-
tralian ratoon- cotton, for upon that ver
: diet depended- whether ^Australia' was go
ing to be -the worW'D greatest producer
iof cotton.-.'. ;.v ' ?'.''???? '??;- .-. ': -???.????.:?.???;
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