The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1884-02-15
American and Australian Woods.


The following, from the Federal
AUStraiidn, we print not because we
believe it is true, but to show what is
being said by the Australians:
There is class of pessimists- whom
for the nonce we shall designate "woOl
bears"-who are periodically attacked
with a dyspeptiC misgiving that the
price of our staple product is about to
experience a speedy and disastrous fall.
Whilst under the influence of this mall
aday, the ruin which is revealed to
them as being in store for our flock
owners is something too dreadful for
the comprehension of a healthy mind.
1t is fortunate for the community that
the name of their class is not legion,
otherwise their uncomfortable forebod-
ings might rudely shock the confidence
of our banks in the future value of the
leading Australian staple. So far as
we know, the principal apostle of this
"bear" theory thrives on the business
of securing sides and pieces in this col
ony; and each time he "breaks out"
Gas the Yankees put iO he breaks out
in new place, The spectacle would
be intensely diverting were these dis
NAL prophecies treated with the light
scorn they deserve. But when respon-
sible journals are found supplementing
them with grave leading articles, and
solemnly commencing with informing
the world that ga general fall in the
price OF wool is inevitable" il becomes
necessary for other journals which are
liz ,,tn cd in hn 81
this industry to examine the data upon
which this advertisement is made.
Especially so when a little further on
the dismal prophet goes on to add that
"those who are interested in the pro-
duction of this staple should take i'm
mediate steps to insure as speedy re-
covery as possible
Our first impression after reading
this was that panic had already set
in, and that wool had fallen % per
cent. at least. But II. Goldsbrough &
Co., limited - to whom we dispatched
reporter for information on the sub
ject-courteously informed us that up
to that moment they had not heard of
the decline. And we noticed that their
huge piles of masonry and brickwork
still stood on their former sites: so we
presume that there is no immediate
danger for few days, the solemn and
oracular warning Notwithstanding.
Readers of the Federal australian
will remember that we have frequent
ly urged in these columns the desira-
bility of seeking new outlets for our
wool in far of countries like China,
Japan, and some of the European CEN
tiers. We have done this, not because
we have labored under the jaundiced
impression that the English market was
likely to be glutted with American
woods this year or next, and that the
price OF the Australian staple would
fall 20 per cent. in consequence, or that
our idea of the present and following
seasons clip were so buoyant as to be-
lIeye that their immense surplusage
would create a panic in prices in the
London market, but simply because we
see that, as the development of western
Australia, the Northern Territory and
Queensland proceeds-and it has been
going on rather rapidly of late-a large
increase in the staple may be reckoned
upon, And while we do not think that
such an increase will make itself felt
for two Or three years at least, yet pru-
dence would suggest that wool growers
should take time by the forelock, and
should anticipate the difficulty before
1t fairly comes upon them.
1t has been stated that, "ten years
since, America was very considera-
BILE purchaser of Australian woods in
London. In 1872, 1872 ,256, 499 pounds
wool was imported Into America. In
1882 tie quantity imported was So ,964-
236 pounds, while the population had
increased from 3S,500,O0 to 10000
O0O." AT first sight, no doubt, the fal-
ling off in the quantity of foreign wool
imported by the United States between
1872 and 1882 seems somewhat alarm
ing. When, however, it is remember
ed that the product of domestic grown
wool in the States in 1870-at the ninth
census-was 100, 102, 1897 pounds, and
at the taking of the tenth census Q88O)
it had increased to 100000, 900 pounds,
the falling of will at once be accounted
for. But this increase on the part OF
America should not in the least affect