Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1846-06-11
THE WOOL MARKET.

The Boston Courier anticipates some reduction
in the price Of the new wool clip. In other quar-
tiers we have seen similar indications, and the
grounds for this anticipation we will state. The
first is, the great increase in the amount OF wool
produced. The report of the Commissioner OF Pa
tents shows that in 1896 the total amount of wool
in the country was 81 millions Of pounds, and esti-
mates that the increase of flocks lat 10 per cent
per annum) will this year give 1894 millions Of
pounds, exclusive of foreign wool. The second
ground IT, the fear of manufacturers that the Tariff
will be modied and the third is, the tghtness of
the money market, occasioned mainly by the policy
of the Polk Administration in reference to the Tar
f the Sub-Treasury, and the relations of the Unit
ed States with Great Britain and Mexico. The
first cause-to wit, the large increase OF produce
tonis met by the fact that under the Tariff OF
'42, and by the increased demand for woolens by
our rapidly increasing population, the manufactures
of wool have been largely extended. 1t is on this
ground that we can account for the fact that wool
has so well maintained its price down to this time,
in the face of a vastly increased production at home
and large imporotons from abroad. That the time
may come when the production Of wool will exceed
the quantity required for consumption, is true
enough-but we cannot believe, without strong
evidence, that this era is TO be introduced suulta-
neously with the wool clip Of 1916 The buyers
may be ready to preach this new faith, Which so
well accords with their interest; but do not yet
see good grounds for it. The other causes men.
toned are obviously true: every body understands
that the Tariff is threatened-that war exists with
Mexlco--that rupture with Great Britain is not
impossible, and that capitalists are timid and give
new twist TO their purse strings as each unlavor-
able nimor meets their cars. Such are the fruits
of Folks policy-of l.ocorocoism; and it is not to
be disguised that they may, and in all probability
will work TO the injury of the woolgrowers, unless
the Government shall seasonably relax its war upon
the Tariff, and its other mischevous measures
We have hopes that it will do so. The vast mill
ary expenditures (say thirymHionSO required this
year, would seem to leave no excuse for touching
the Tariff; and We almost flatter ourselves that the
Locos will not dare either to repeal the Tariff or
pass the Sub-Trcasury.
Then as to Great Britain: all at once the ardor
for The ,choIe of Oregon has been strangely cooled
and even the Locofoco committees Of both Houses
of Congress have recommended the postponemcnt
of the bill for the occupation of Oregon until the
next session 1t is astonishing to see how sudden
y the intense zeal and yalor Of these immediate
occupationists yielded, when it vas found that
had really come-even a war with orc of the weak
est of the nations Of the earth. What would these
fellows do, if England were TO take them at their
word so loudly and boldly given three months ago,
and now so suddenly and quietly withdrawn? But
we are glad to see the party in power forced to a
more prudent course though it be done so inglori-
ously to Them it is good sign, which we hope
will have effect in restoring somewhat of the con-
fdence which business men had lost
On the whole, we advise the wool-growers not TO
be too easily dshearencd, nor to yield very readily
to any serious reduction of prices. The times np-
pear somewhat uniavorable now; yet we have
named some signs of amendment. If, however,
Congress comes boldly up to the work of carrying
out the policy of the President, indicated in the
winter, the wool-growers must expect to suffer.