The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1856-06-25
WOOL.

The Massillon (O.) Gazette reports the wool
trade active in that place and that the supplies
of the common grade were coming in freely
Prices ranged from forty-fve to fifty cents.
We have as yet been apprised of no very
extensive preparations for buying among the op-
orators in our vicinity, nor in Western Penn
sylvania. The Philadelphia Shipping List, in
an article upon the prospects of the trade, says
that prices must fall from the fact of "the con-
tinual stringency in the money market, which
causes capital to command so high price and
consequently forces sales, and because it is a
notorious fact that some descriptions of wooden
goods are selling below the cost of the raw ma
terial." 1t also argues that the unsettled state
of our foreign relations will be very likely to af
feet the prices. We subjoin an extract from
their article:
1t would perhaps, be premature at this time,
to hazard an opinion with regard to the quanti-
ties of the raw article which will be produced
as the years growth, but one thing can be sta
ted with certainty, the present high prices ca'tno!
be sustained. Those operations which have al
ready transpired in the West, at an advance Of
from two to three cents per pound, over last
years prices, are but Wild idle speculations, in
order to lead the market, and if possible force
done, and so early movement on the part of
the buyers is not only injudicious, but fraught
with dangerous consequences to both buyers
and sellers. 1t cannot promote the true and
permanent interests of either party, and there
(ore tends naturally to retrospection in prices;
as it is well known to merchants that prices
forced above proper level are sure to sink as far
below where the unnatural excitement ceases.
1t is therefore very evident that those who des-
ire to do safe, legitimate business will not con-
tract for the present years clip at the present
prices much less at those which spectators are
cndeavorng to force upon the trade.
But another prominent fact which should ar
rest the attention ofdealers in Wool is that the
present rates for the manufactured fabrics do
not warrant the manufacturer or dealer to &c
into the wool growing regions and buy the arti-
c.e on the animals back at the high rates de.
manded.
Ifbuyers are so insane as to act in this man,
ner it IS hoped that the farmers possess enough
of practical common sense to discountenance
any such operations as experience should have
taught both the manufacturer and producer the
evil effects of such course. 1t is an undenia
BILE fact that some descriptions of manufactured
woolen goods are now selling below the cost o
the raw material. This cannot long continue
Either wool must be bought at lower prices
or the manufacturer cease operations, as there
is no probability that manufactured goods o
this character will advance in price, and fo
these prominent and conclusive reasons: First;
the continued stringency of the money market
which makes capital command high price, and
consequently forces sales, no matter at what
sacrifice. If a mapuacturer needs money he
must SELL Capitalists soon become aware o
this fact, and bid accordingly, and in this man
ner goods are brought to low figure and the
market price reduced. But again, the unset
tied state of our foreign relations are well cacu
lated to make capitalists and manufacturers care
full, even if reasonably confident that no oper
rupture will take place between this nation and
Great Britain. Those having large amounts o
capital at risk will look before they leap. 1
forced to buy, it will be in small quantities, anc
atsuch prices as to leave no possible margin fo
loss. For these evident reasons it is not posi-
BILE that the price Of manufactured woolen good'
can be much advanced, and it follows as aneces
sary consequence that the price Of raw materia
must fall instead Of rise.