The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-17
Tho Wool Trade and the Wool Clip Of
1860.

enough withln It's own Nmits to feed ana clOtho
comfortably its own population. A few Of the
luxuries of life in addition might make the
people more contented and happy and the love
Of their native land more general and enduring
These propositions are particularly true oftEe
United States, whose products Of breadstuffs
afford food and nourishment to its citizens in
bounteous quantities, with large surplus for
export to other less favored lands; whose
cotton crop furnishes ample quantities Of the
raw material for domestic manufacture and
be worked up in foreign looms, enriching at
the same time one section Of the country and
infusing prosperity into the manufacturing pur-
suits Of another; and finally, whose wool pro-
duct enters largely into share Of the benefits
of industrial vocatons, of local trade and the
comfort and health Of tho people. It is in
regard to the latter article that we propose to
utter a few words at this time.
Reliable accounts recently received agree
that the wool interests In this country are suf-
fering at this time from some cause difficult for
those not intimate with the trade and woollen
number of heavy failures Of wool houses
occurred during the month Of August last, and
several large mills are at standstill. The
wool clip for 1869 is estimated at one hundred
and thirtyseven million pounds-a falling off
this year Of forty million pounds as compared
with that of last year, when 1t reached an ag-
gregate of one hundred and seventy-seven mil
lions. Yet in the face of this reduction in the
domestic supply prices rule low and business
is comparatively stagnant. To quote from
authentic sources, ''the condition of manufac-
turers as class is quite unsatisfactory, many
of their productions being sold at prices quite
unremunerative. A year ago the best among
them were making but little, while others were
losing. At the present time their products
generally are selling relatively lower than
last year, and none but the most skilfal
can possibly thrive" This will prevent
any advances on the raw material and aug
ment the dulness that now prevails. In the
West the abundant harvest and in some locali-
ties the diminished clip of wool are prominent
considerations for stiffness in prices; while
the more controlling features of the question
which in Eastern cities absolutely rule the
market are scarcely perceived. It seems to
be settled conviction with those who aver
that they are not inclined to take gloomy
view of the subject that wool cannot advance
permanently in price unless the manufactured
goods lead the way.
This is one side Of the question. But the
whole matter is one in which the people, the
consumers, are largely interested. The sea-
sons when the prices Of woollen and cotton
goods, Of breadstuffs and provisions, and
house rent are low, are the blessed seasons of
the masses of our population. Combinations
and conspiracies may exist among monopoliz-.
ing corporations to keep up the prices of the
necessaries of life, as we have seen attempted
| in the frightful experience of the past week in
| the case of the Avondale coal mines in
Pennsylvania, and as we see daily in the
operations on the Gold Exchange, the great
doorway upon which are hinged all the great
commercial operations of the day. We hope
we shall have no occasion to complain of
combinations on the part Of wool operators
and manufacturers to Cypress the people with
heavy prices for woollen goods necessary to
be used more extensively during the APP
preaching winter months than at any
other time of year. But when our
eyes glance toward New England and
we see the organs of the Overshadowing
manufacturing corporations of that part of the
hnl tho rlrn a. toll
cheeringly of the great increase within few
years of the wool trade in Boston-being from
| over thirty-three thousand bags of domestic
wool in 1856 to nearly two hundred and thirty
seven thousand bags in 1968-and when we
reflect upon the almost unlimited resources of
the West when this years crops come fully
into market upon short wool crop, we con-
fess, when we take this view of the subject,
that things look dubious for the interests Of
the wool wearer and consumer, no matter
what aspect they may bear for the interests of
| the wool operator and manufacturer. It is
pretty certain, unless the tariff on wool and
woollen goods be repealed altogether, that the
stoppage Of two-thirds of the woollen mills in
New England would not depress the prices Of
cassimeres, cloths, blankets, carpets, ready
| made clothing, womens and children's dress
goods, or any other article into which wool is
woven. On the contrary, such suspensions,
from the scarcity Of supplies that would follow,
would inevitably tend to enhance prices rather
than lower them. and thus infict q severe
pressure upon the purse of the poor. On the
| whole, We do not see that the sufferings of the
wool interests will long continue, or that such
sufferings should be stalked before the next
Congress as bugbear by which to frighten
timid Congressman into an increase of the
tariff on wool. In the meantime let the growth
Of the article be encouraged in the United
States for the more Of the native article that