AN INTERESTING SPEECH.
As usual, the speech of the Chairman, Mr. Andrew William- son, at the annual meeting held on Tuesday, was exceedingly interesting, Mr. Williamson dealing at some length with the general position of the wool industry and with Australian pastoral interests generally. Speaking of wool, Mr. William- son dealt with some of the reasons for the recent fall in prices, among which has to be included competition on the part of artificial silk fabrics, and Mr. Williamson raised the point as to the advisability of a world-wide propaganda with regard to the advantages of wool—as against all other clothing fabrics. Undoubtedly, however, as Mr. Williamson explained, a factor which tends to restrict consumption of wool is the large further charges on the manufactured article owing to the profits exacted by merchants and retailers before the consumer is reached. Once again Mr. Williamson touched upon the vital need for lowering the general costs of production in Australia, and his plea, which is a long standing one, has recently obtained impressive endorsement from the members of the British Economic Mission who recently visited Australia.
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