08 Feb 1935
Page 1
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Newspaper
Charleville Times
Location
Charleville, Queensland, Australia
Date
Feb 08, 1935
Page
1
An analysis argues that wage cuts and efficiency gains are needed to ease the burden of high interest payments on primary producers and nations like Australia and England. It calls for reduced overseas interest, open bill markets, and lower local bond rates to restore trade and avert economic depression.
The Sydney wool market shows five months of price stability around 3.30 dollars per unit, but concerns persist over trade barriers and one way shipping for wool. The piece argues Australia must adjust English tariff and loan costs, or face continued subsidy burdens on wool producers and Conference ships.
The report notes Australia faces stronger German demand but uneven wool purchases. Italy bought less wool from South America and Australia while shipments to Belgium and Holland rose. Wool stocks in Australia are high, with declines in European demand and sparse wage gains. Unemployment fell in six districts, yet no imminent rise in wool prices is seen as surplus supply persists and exports to several countries increase.
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