Abstract
In choosing such a subject as this for an economic thesis I think that I need no justification, particularly when we consider the importance of wool in the economic structure of our country. No one can deny that the land and its products are the basis of New Zealand's permanent prosperity, and not the least of these products is wool.
The lack of collected data on this subject I have had very forcibly impressed on me since I commenced these studies. Apart from a few pamphlets and studies, mostly by men connected with the Department of Agriculture, or with the two Agricultural Colleges, I have found a very decided dearth of reference matter in connection with the economic aspect of wool, and more particularly with its marketing in New Zealand.
The more technical aspect of the subject - that is in connection with breeding and cross-breeding, and the actual methods of production and treatment both of the sheep and the wool--on the farm I have found more fully treated. This is, of course, of economic importance, but I have omitted it because, in the first place, it is far too difficult and complicated for a mere research scholar, and requires above all, not theoretical, but practical knowledge of Sheep-farming; and, secondly, because it is outside the scope of my work: which I would define as being a simple e:zplanation of the production and marketing of wool in New Zealand, and the importance of that product, both in our local economic system, and also in the world system.
Many of the points raised are still controversial, as, for instance, the practice, comparatively recently adopted, of "binning" wool. Again, I am afraid that in most cases my treatment of the subject under review will be far from complete, owing to my lack of practical experience, but I have endeavoured to give some idea of the importance of wool to New Zealand and to present a picture, inadequate though it may be, of the processes and work which are entailed in taking the wool from the sheep's back and presenting it to the public consumer as a finished article, ready to wear , whether it be the humble sox, or the best of suitings to cover a gentleman's figure.