Evansville weekly journal. [volume] (Evansville, Ind.) 184?-18??, 1848-06-08
NO IS

regard to the state of the wool market, and
the probable prices for the ensuing season,
from the Philadelphia Prices Current. OF the
Goth inst. The writer appears to understand
his subject, and we commend his remarks TO
the careful perusal Of those of our readers VINO
may feel interested in this branch of trade:
In our article of last year on this subject,
We expressed the opinion that the price OF
wool would be somewhat higher than they
were for the previous clip. The result has
proved that we were not mistaken. From
the best information we can obtain OF those
well acquainted with the wool trade, and the
general course of business, we believe prices
will rule lower this year than last; perhaps as
low as they were in 1916.
We are led to this conclusion from the fact
that the quantity Of goods brought 10 market
the past year from our own manufactures and
by foreign importations, have been consldera-
bly, greater than was required for consumption
hence the prices have been so much reduced,
that loss has been sustained on many des-
criptions. Cloths that were sold in the spring
of l847 al 81 TO So 30 per yard. have this
spring brought ST. % to 81 70. Other kinds
of goods have been sold at proportionate re-
duction. Under these circumstances, no pru-
dent manufacturer will continue to pay last
summers prices for wool. and sell his goods at
the rates OF this spring. Every country mer-
chant who has been to the Eastern cities can
testify to the exceeding low prices OF WOOL
en- goods.
Some effect has already been produced from
these canses, for, notwithstanding the stock OF
wool in market for some months past, has
been less than usual at the same period IN Tor
mer years, the price has gradually declined and
Gill hoe a do.rn Tendency and we cannot
see that any improvement will take place IN
the value of wool until goods shall advance,
which, from the quantity in market and the
accommodating supply, may not be for some time
to come.
Little or no wool has been exported; but
some that was shipped in 1916 has been pur-
chased in England, brought back TO the Uni
ted States; and sold at fair profit. Consider
able importations ofother woods have also been
made, paying duty of 30 per cent. Thus
showing the great advantage the English and
other foreign manufactures possess in compe-
tition with our own, in the low prices of ma
terials, in addition TO the differences of wages
paid for labor. We presume that the price of
labor in this country will not be reduced below
its present average rates, and hence are Undue
| ed TO conclude that the reduction will be main
ly on the raw material.
The intercourse and business connections
between this country and Europe are very ex-
tensive, and we cannot avoid being more or
less affected by the occurrences that are now
; taking place in several of the nations there
The unsettled state of most of these countries,
causes great uncertaintysin any calculations as
to the results of trade between them and the
: United States, or the effects that may be pro-
duced on the business of this country or our
monetary arrangements.
J We have frequently mentioned the necessi-
ty of greater care in washing the wool and
cleansing it from all filth, such as tags, burs,
|, &c, and would not now refer to it but that we
are assured there is still great room for improv-
) ment in this respect as regards much of the
; wool thai comes 10 market. We therefore
urge this matter as worthy the attention of
wool-growers.
: With these views, we recommend caution
) in making purchases; for, while we are glad to
see any or all agricultural productions yielding
full recommending prices to the producer, we
! should not be faithful reporters of the value OF
; the various commodities and the general state
+ of trade. were we in the present aspect of bu-
J siness to hold out encouragement for last years
prices for Wool.