Dallas herald. [volume] (Dallas, Tex.) 1849-1873, 1872-03-16
The WeSi Trade.

countrysand Europe, has so fa
overtalten the supply that tho ex
truordinary advance of f.ty to sew
enty-fvo per cent, has taken place
/ during the past twelve months, in
the great distributive markets on
both sides Of the Atlantic. In some
kinds, indeed, the appreciation has
been still greater, and from present
indications, the limit of the advance
has not yet been reached, the sup
plies in our own and the neighbor
ing markets being so small as to
give sellers a decided advantage in
prices. The course of the market
for this staple is an apt illustration
of the axiom about one extreme fol-
lowing another. During our civil
war, the demand for woollen goods
to supply the army and navy, and
rs o substitute for cotton goods
among the masses, because Of the
scarcity and high price Of cotton,
led to so enormous an increase in
The production of woolens, that
when tho war stimulus was with
drawn, the home and foreign mar.
kets were fairly glutted with these
fabrics. At the same time cotton
once moro become available and its
products were soon afforded at such
popular prices us to mater tally les
sen tho use of woolcns. The conse.
quence was, n long period ofdepres-
sion of the market for both wool
and woolehs followed, during which
prices fell below the point at which,
it was claimed wool growing in this
country was profitable, save in Tex
as, where the grasses ate perennial
and IN California where the climate
| is so mild that tbs flocks live out
all the yearround. Hence the ghecp
husbandmen of Ohio, Michigan,
Penn ylvania and other Western
States had no other alternative
than to get rid oftheir focks, which
many of them did in 1S6S-69 by the
summary method of slaughtering
them for their pelts. Meanwhile,
the duties on foreign wool, which
had been raised in 1866 to n nearly
prohibitive point, kept tho,supplies
from abroad 80 low thatthe tone of
the market began to strengthen in
1870, since when prices have reach
ed feafly the level of the highest
range of the war, if the difference
in the gold premium is taken into
consideration, In fact, wool can be
grown at present prices at hand
some profit 10 the grower, and as
consequence ce the Western farmers
are again going extensively into
sheep husbandry, evidence of which
is afforded by the diminutlon in the
supply of sheep coming into market
for mutton. There is another cause
for the great advance in wool the
last year or two, and Tint is the
limitation supplies in the great pro
ducing countries, viz: The Cape Of
Good Hope, Australia, and some
portions of South America, and the
sharp competition among the buy
crs Of Europe and this country.
Considerable supplies have been
purchased BY American dealers and
manufacturers In Australia, most of
which is yet to come forward, d.
rect and ria San Francisco. The
present high prices of wool aropret
ty certain to stimulate, the produc
tion all over the world, yet the
great markets Of Eur0po, as well as
your own, are SO nearly bare Of
stock that it may fairly be assumed
that considerable period must
clapse before the supply will be
likely to again largely exceed the
consumption, II which event the OPP.
portunity may be presented to our
large wool growers not only to
make up for any former losses, but
to amass II handsome competence.