The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1867-05-22
From the New York Economist.
The TaPifFand the Wool Mark et

The TarifTand the Wool Market
1t is true that wool is worth to-day nc
more than it was year ago. That after
the first of May, 1866, prices advanced til
the time of shearing, after which the tatif
| agitations carried ii up about 10 cents pei
pound. But we must bear in mind that
last ye1ris not this year. 1t is true there
was less on the market then than there il
now, but there was much less in the coun
| try. In Ohio year ago there was conSid
cradle wool, and buyers were very busy
| picking it up; but last year there was buI
very light stock of goods on hand, anc
manufacturers prospects were far brighter
than to-day, hence they were more dlspos
ed to buy then than they now art-the,
did not talk about stopping their mills, NJ
rne thought of it. 1t is true there wa
then far heavier stock of foreign wool
on hand than there is now But then there
is far heavier stock of manufactured
goods both domestic and imported, now
than then. So that for any one to predicate
that there will ,e an advance on wool this
same time, will have toignore circums,anc
es entirely 1t is true that we have much
higher tariff this year than we had last year
but this can avail nothing in view Of the
heavy supply Of goods, and, we think time
has fairly demonstrated what we frequently
stated, that the price Of wool would not be
governed by the tariff, but by the supply
and demand.
the tariff bill passed the first of March,
the week after prices advanced two cents
per pound, they had previously advanced
about three cents per pound in anticipation
of the tariff; they have fallen since the first
week in March all they had advanced after
the passing Of the tariff, and have worked
of some OF the advance before the tariff
passed; and manufacturers have abandonep
| the idea Of any further advance. Short
stock or heavy stock is all one to them; they
will only buy just what they want and whur
,hcy want it I'll the fall trade has fairly
opened. Should goods move of freely
then, manufacturers may be free buyers
but they cannot pay any material advance
on the price in wool unless they can obtain
material advance on goods And who
are the parties that will pay an advance on
woolcns? Certainly not the consumer, fol
the tendency Of everything is downward
and wooiens c.nnot 90 against the stream
Ii our legislators do anything ii must be to
reiuce the taxes which manufacturers have
to pay. Unless they do this, the foreign
manufacturer. with his cheap labor, chral
wool cheap money, cheap supplies, vii
drive our own manufacturers out of thu
market, should there be any market t
drive them out Of. Wool growers will
l'arc in less than six months that the pric
OF wool does nj depend upon the amount
of tariff the foreign wool pays, but upor
the prosperity Of the manufacturers -
They will als7 learn that th,.y may give tn,
manufacturer all the tariff they may chose
il they balance it on the other side by tarit
on wool and supplies, he is none the bette
protected by such acts. the foreigner Cal
pay the tariff and still underse'l him. Will
the large amount of tariff on wool an,
woolens, which is all repr scented on wool
ems, there is large premium offered fb
smuggling, for higher the duties and great
er the profits. While wool, which is sucl
a bulky article. cannot be smuggled, ant
nothing can be done in the way of false in
voices, because the bulk of the duty is spec
fled, while the ad valorcm on wnoens i
such as to invite false invoices the duty be
ing all thu way from 35 cents per yard tt
Sl.05 per yard.
Farmers are no donbt exp p"cting to read
a golden harvest from tariff operations
supposing that the tariff would, like the
fabulous philosophers stone, it not chang,
everything into gold, it would at least con
vrt the woo.y f.ec. into the golden h.ece
This it has failed to do, and they will real.
ize it in less than six months 1t is skill
tul labor which has the power OF convert
ing the fleece into g0ld-and this labor op
Grating under the most favorable of circun
stances, not 80 weighed down by heavy tax,
es that it cannot purcease the fruits of il
own skill Under such state it is hopin,
against hope to expect high prices Ye
the wool grower is now estimating his WOO
at rates something at what nis wheat brings
out he must rcmem Der that it is tn. lahore
who consumes his wheat add W ars his wool
when he has very high price to pay iol
his food he buys little clothing; and there
was never known to be good demand fo
wearing apparel nor satisfactory prices OBJ
tanned when food was high; hence we maj
set this down as a rule-dear bread and bac
trade. cheap food and god trade. Som,
may look upon the years OF war as an ex
ception to this. War is, always an excep
,ion. Peace is, and ought to be, the nor
NAL state of things, and the rebe lion wa.
no exception to this. Our WOODEN mill.
were we'll employed during the war; not
however, in producing goods required ty {
peaceful state OF things, but by what tn,
war required, clothing fer the soldiers
which were rapidly destroyed: Govern
nent paid what was considered high price
for these goods; but 1t must be remembered
they were not paid Tor at all; the Govern
ment issued promises to pay. These 80
called dollar greenbacks were worth from
| Is to 80 cents each at the time issued; anC
we are now paying for tue cloth consumed
then: and it is here where the rub comes.
We issued our promises to pay in the name
Of Government when our promise was worth
35 to so, and we are now redeeming that
promise at about 76 cents; that is we are
paying about double now what the debt was
worth when we contracted it.
And what is the result? Our manufao.
turers said they were getting enormous
prices from Government tor army ciOlhing,
because they reckoned the money on what
the Government called it, and not on what
it was actually worth; they also forgot that
was but promise TO pay. and that they
themselves would be called upon to redeem
that very promise which they were receiv-
ing from Government. They also forgot
that it would have to be redeemed not at IS
and 20, tbs value ofthe issue, bur at rs aud
100, the value of the redemption; AMI they
also forgot that would have to be paid at a
time when their property was not valued at
currency worth IS and so, but at rs and
lO0-when their property was worth only
apparently half what it was when tney pur.
chased it. They purchased their property
under wild delusion. They bought their
machinery, they built their mills with cur,