The Wool-Growing Industry

The Wool-Growing Industry

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: the warehouse congestion due to a lack of shipping. In November, 1916, the British Imperial Government purchased the entire wool clip, less 516,000 bales which had been sold at public auction before the arrangement was effected. Similar arrangements were made for the acquisition of the 1917-18 clip and, subsequently, the Imperial Government decided to extend the purchase of Australian wool for the period of the war and for one year after. The imperial contract came to an end June 30. 1920, and the trade has gone back to the old system of auctions. The terms of the imperial contract stipulated that the British Government should take all the wool at the flat price of 15id. per pound (about 31i cents) in the grease, this being the average price for the previous season, plus 50 per cent. Wool brought into the stores was appraised by representatives of the Central Wool Committee, a semigovernment body, and each grower's clip was valued, not at 31i cents per pound, but at such a value, according to quality, as would bring the average value of wool for the whole Commonwealth up to the flat purchase price of 314 cents per pound. The wool was then sent to London as fast as shipping was available, and was either used by the British Government or resold in British and foreign markets.18 The final figures for the profits to the British Government during the control period are not yet available, largely because much of the wool has not yet been sold. Taking the wool at the cost price--about 31 cents per pound--the profits are estimated at something over $300,000,000 for the whole period of control.14 If the cost price of the wool is actually realized in future sales, which seems doubtful under present conditions, the Australian growers' share of the...
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Product details

  • Paperback | 272 pages
  • 189 x 246 x 14mm | 490g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236531051
  • 9781236531056