It is particularly absurd to complain of Government " profiteer-
jug" on the raw wool. The Government, having entered into the risky speculation of buying vast quantities of wool, were bound to make sure that they did not lose money. Their wool trans- actions, it is said, involve a sum of no less than £300,000,000, and are very far from being completed. There will be time enough to talk of " profiteering " when the Government have sold all their wool ; if they make their profits and,losses balance, they will surprise most business men. Last year, no doubt, they made profits, which had to be shared with the Australian wool-growers, but it would be premature to assume that they will continue to. do so. And if they do make any large profits, the whole community will benefit. Moreover, we all gain by the large exports of raw wool.and woollens at high prices. These exports help to improve our foreign exchanges, and especially the American exchange. The private citizens w,ho find clothes too dear hay. their own remedy. They should go without new clothes until the foreign demand abates and prices fall.
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