'Wool'
J. JEWKES
Special interest centres in this talk tonight, inasmuch as wool is one of the few staple raw materials that have not been controlled to any great extent in recent years. Unlike copper, cotton, wheat, tin and most of the other materials, wool has been left free to take care of itself. Prices have been allowed to fall, stocks have not been created, so that when a revival of demand occurred last year and the year before, profitable margins reappeared immediately.
The events in the raw wool market, therefore, offer some evidence on the vital question : Would it, in the long run, have been better for the world if Governments and bodies of producers had refrained from interference with the supply of and demand for raw materials ?
Here is a pretty question for discussion groups to ask themselves.