§ 11. Mr. CAUTLEYasked the President of the Board of Trade whether, with a view to assisting sheep farmers in the conduct of their business, he can state the amount of wool now held by or on behalf of the Government and the arrangements made as to time, quantity, and price for putting it upon the market?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hilton Young)I have been asked to reply to this question. The approximate amount of wool now held by or on behalf of the Government is 1,500,000 bales. Marketing arrangements must necessarily vary from time to time, but in general wool is placed on the market in quantities commensurate with the absorbing power of the trade, and sold to the highest bidder subject to a reasonable reserve.
Captain TERRELLCan the right hon. Gentleman say how much wool has been disposed of by the Government in the last 12 months?
§ Mr. CAUTLEYCan the right hon. Gentleman not see that his attitude demoralises the market altogether?