The northern galaxy. [volume] (Middlebury, Vt.) 1844-1848, 1844-07-10
ITHACA WOOL MARKET.

u
Market.-Wool growers are focking in
with loads and parcels every day, and
finding ready sale, for cash, al good pri-
ces. Some of our merchants are pur.
chasing on their own account, and others
as agents for eastern houses and manu-
factories. Some $4,000 to 100000
perhaps larger sum, will be paid out
here for wool the present season. The
prices of coarse grades are full fifty per
cent above the prices Of last year.
Coarse wool is especially in demand.
The reason of this is to be derived from
the operation of the present tariff. Under
the former tariff, wool costing less than
8 cents per pound was duty free; and it
imposed no sufficient guards against the
fraudulent introduction Of fair grades,
mixed with impurities to reduce its Gusts
to the free rate. But under the present
tariff all wool costing over cents per
pound pays a duty of 8 cents pound
specific, and 80 per cent ad valorrm ; and
all wool costing cents or under, pays a
duty of five per cent, and guarded provis.
ion is made to prevent the fraudulent in
PRODUCTION of fair grades mixed with i'm
purities at this rate, by estimating such
wool at what it would cost freed from I'M
purities, and imposing upon it the higher
rate of duty. The effect has been to re.
strict The importation, so that is has fallen
off more than t,oo thirds, and the def
cheney has TO be supplied by the coarse
grades of American wool. Hence the
brisk demand, and higher prices. The
finer grades of wool. though not advanced
in price from last year as much as the
coarser, are yet advanced from % to SO
per cent, with brisk demand, and ready
cash sale.
Now suppose you strike off this pro-
tecting duty on wool, and the equivalent
one of woollen, and admit the Importation
of both duty fee, as the British free trade
POkcites desire, what effects would re-
suit a? Would the brisk demand and cash
payments for American Wool continue
Would the valuable home market for 9th.
er productions Of the farmer-his wheat,
pork. butter, &c. which the prosperous
condition of manufacturing operations SC.
cure, remain 10 MIN
When American manufacturing was
Frustrated by British free trade, could
clothes be purchased any cheaperl And
when the manufacturers were driven from
their work shops to the field,and employed
in raising wheat and potatoes for their
own sustenance, where would be the
market for the farmers surplus! Not in
England, certainly, from whence the
British cloths would come free OF duty
England protects herself BY heavy duties
upon such articles, and the specie. not the
farmers produce, must go out ofthe coun>
try TO pay for British cloths.-No; the
farmers ready and profitable market
would be destroyed. Why, the manu-
factories in the single State of Massa
chusetts, if not single town in that
state, now use more New York and
Western flour in the single article Of
starch, than all our expectations of the
article?
What folly, than to sacrifice the pres,
ent prosperous condition of the country,
brought about by the protective Tariff of
1912, as MIR. James K. Polk, the federal
candidate for President, would do by stri-
king down the principle of protection !;
and all his supporters will strive to do by
contributing TO his election!
How much better TO sustain this valua>
bic protection to American Industry. and
to sustain it as it only can be sustained in
the person of its great Champion HEN.
RY CLAY.