Sheep farmers protested widely at the continued poor prices of
wool. An inquiry was set up chaired by Sir John Crawford. As a result
a milestone for the wool industry and the farmers was achieved in the
setting up of The Australian Wool Commission which later became The
Australian Wool board. Great advances were made in organization, in
technical management and marketing of wool. CSIRO played a part in
the research and advice as well.
At the time there was a mini mining boom due to a company called Poseidon. By the time of this cartoon the boom was turning into a bust.