Middlebury register. (Middlebury, Vt.) 1886-1937, 1886-08-06

Total 2O0,0Uo,m0 9lO,jOO,OOO
While the production has increased on
an average over 400 per cent, it is quite
safe to say that the population of the ma
/ tion> using wooden goods has increased
very little; where one nation gained
/ largely in population, as in the case of
of the United States, it was at the eX-
penSe of other nations. The rapid in
crease in wool production could not posi-
bly, have been done without creating low
prices for woods throughout the world.
particularly with all industries depreSs
ed, and low prices ruling for both raw
material and manufactured articles of
commerce and trade.
While the production in this country
shows an increase of about 400 per icent,
HE consumption also shows Il remarka-
Bile increase In 1866 was consumed 23O,-
800, 900 pounds, of which 1j,OOO,OOO lbs.
were imported. In lSS3 we consumed
4OO. 3SS. 2l5 pounds and last year 42S. S3G.-
7OS pounds, of which nearly l0O,OOO.OOO
pounds were imported But then the
production of wool has been decreasing
the past half decade. while the cOnSump-
ton has been increasing. No doubt the
principal cause for lcsSening production
is found in the great expansion of the
United States railroad system, making
land too valuable for pasture, thus
forcing owners of large lockS of sheep
Eel, 4 ut.., rt
with large proportion of their holdings.
This is illustrated in our State and will
be still further emphasized a. railroad
feeders are constructed to tap the many
fertile sections now removed from the
demand markets for farm products. 1t is
quite safe to say Judging from the tenor
of passing events in sheep huShandry, that
the days of large fuckS in this State
only to prove profitable on farm will
be- the rule before many years pass by.
There are very few Wool-growers of the
present day who are cOnvcrSant with the
many ups and down, in prices during the
past two decades, for up To lSG9 values
ruled comparatively steady with the
highest prices paid for fine woods in the
United States ruling from lN5S To lN6j.
Immediately following the high tariff of
1867 wool values in thi, country began
to rrcedc. and continued "n the down
grade for fully three years. The very
low prices ruling for woods induced ma
] ~ n Il
This led to II scarcity of woods in ISL
and an advance in prices. But IA decided
advance was prevented by manufacture
crs supplying the bulk of their wants
abroad, and also by heavy wool importa-
tions by dealers and others for Specula-
tive purposes; for the Franco-PruSsiai
war had been the means of sending val
ueS abroad down to very low figures a.
l there was no strong competitive buying
in foreign supply markets. Without
competition in buying, prices are low
The free orders sent from this country
to England ''set the European markets
to going" and within a few months al
advance in prices of over 80 per cent was
established abroad. This rapid advanc,
= checked importations, added to whicl
= was the destructive fire in Boston in 1872
t Higher prices abroad and loss by th'
V Boston fire led to higher prices for do
II nestle woods, which was still furthe
t stimulated by the largely increased con
O sumption by manufacturers, who hat
q made additions to their mills, besides new
\ interpretations erecting a large humble
Il of new factories. This was in the haley
r on days of active railroad building AM
if very large immigration from Europe
= owing to crop failures there. tnde
= the enlarged manufacture of woolc
V goods the markets in this country wer
e soon overstocked, prices fell and gen
l. eral depression set in, causing price
= for woods to drop. Added to this was
r. change in ladies' dress goods, whic
Il seriously affected values by decrease
l. consumption of second-class wool,
|, which declined nearly 80 per cent be
st tween the years 1873 and 1879. In tn
N latter year a revival in the market set il
u causing an ADVANCE III "ool VALUES III
fiscal year, $3.50, was period c
e. great imitation in the price of woods an
~ wooden goods, which suddenly collapse
Of in 1880; beginning, if my memory serve
;? me faithfully, in April of that yea
If Since then values have been settling
"A with at times short-lived spurts, up
4? this month, when IA reaction is beginnin
at to set in that has the appearance of bein
ne founded on broad commercial ground
er which, if proven correct, will brir
he about higher prices. From all informs
b. ton, statistical and otherwise, at hanC
al | feel well satisfied that it will pro,
Is correct, and also that the long depressio