Wheatgrowers are tantalized by the view of high market prices which they are not allowed to obtain. Although the Government had promised not to interfere with the marketing of this year's crop, it has nevertheless taken over the whole. No one is allowed to sell wheat to any one but the Government. It gives a certificate, when the grain is delivered at any country railway station, and this certificate entitles the holder to obtain an advance from the bank of 2/6 per bushel. This is supposed to be the equivalent of 3/- per bushel f.0.b. Sydney. The Government is supplying millers at Lon: don parity, which, just now, is about 5/- per bushel. If millers were to buy direct from growers, both buyer and seller would become law-breakers, and would be able to severe punishment. An account is to be kept, and in November next if the Government has made any profit it promises to divide it among the growers, pro rata, according to the quantity they' have respectively brought, an arrangement into which dhe' Governmantatof all the States have entered. It had ite origin in the scarcity of vessels to carry the exportable surplus. The Federal Government, deeming itself in a Detter position to charter vessels than private operators would be, entered the field in that behalf, and announced that no vessels excep those chartered at its instance, and by ita authority, would be allowed clearance with wheat.
The apportionment of the space to be thus secured presented some difficulty, and the States agreed to undertake the purchase, sale, or shipment of the crop. The actual business is effected through rebut able firms who have been appoint-agents. The Governments maintain that their intervention was absolutely necessary, owing to the dearth of available shipping, and to the preference of shipowners for shorter voyages than that to Australia. Farmers will have to pay 5 per cent. interest on the advances which they obtain from the banks, and it is expected that the charges for commission, receiving, delivering, ete, will work out at between threepence and fourpence per bushel.
The Australian bushel, it may be noted, is @0lb. avoirdupois. Naturally, farmers are inclined to resent the interference. But the position is very critical, and it may prove that intervention was necessary. If the first advance were fixed on a mote liberal scale, there would be little serious opposition. This, however, cannot be altered unless all the Governments agree. At present, buying, as they are, on credit, and selling, oth locally and in London, for cash, they bid fair to obtain
Text read from the printed page and cleaned; old type leaves the occasional error.