Other formats

    TEI XML file   ePub eBook file  


    mail icontwitter iconBlogspot iconrss icon

The New Zealand Railways Magazine, Volume 5, Issue 9 (April 1, 1931)

Over-production and Price

Over-production and Price.

When the depression deepened in Australia, the Government appealed for more wheat production, Australia being in sore need of additional exports to counter-balance the fall in export values, and to meet pressure of interest payments. In the United States, which is not bothered with the need of paying interest oversea, the Federal Farm Board is prescribing less wheat production. The Board's chairman, Mr. Legge, says that the United States farmer cannot compete in world markets and ride in automobiles too. As to the home (U.S.) market, if over-production and over-supply continue, “artificial maintenance of price will have to be abandoned.” In other words, the world market will not buy dear U.S. wheat, and the now depressed home population cannot be compelled to.