The Forrest City times., 1891-10-23
Why They Have Fallen,

Why They Have Fallen.
 High tariffs lower wool prices: low tariffs raise wool prices. So say Sena- tors sherman and Allison, Thomas Doan, the hightariff woolen manufac- turer, and the organ of the Manufactur- CTS Club
 That high duties on the foreign fine wools needed by our manufacturers to mix with the wools of domestic produc- tion lower the prices of our own wools is fully shown by the course of wool prices since the enactment of the Mckinley tariff. The truth of this assertion is admitted by such leading men as Sena- tors Allison of Iowa and sherman of Ohio.
 On March 2i, 1870, Senator Allison said, in debating the wool tariff: Il allude to the wool tariff, law the effect of which has been materially to insure the sheep husbandry of this country. As the law now is, the tariff upon fine wools or character not produced in this country is leo per cent on their cost. Before the tariff of 1567, our manufac turers of fine goods mixed foreign wools with our domestic product, and were thus able to compete successfully with the foreign manufacturers of similar wools But, being prohibited from im- porting this class of woolS, these tina goods cannot now be pro- duced in this country as cheaply as they can be imported If they could afford to manufacture these fine goods, they would make a market which we do not now have for our fine wools to be mixed with other fine wools of a different fel,a of.fa F.ssr. 'hn ttrafa af market, as I understand it. is the reason why our fine woos command so low price"
 The following from Senator Sherman's speech in the Senate, Feb :, 1,s}, on the wool schedule of the tariff of 1883, will show that he agrees with Senator Allison as to the effect of high duties on wool Senator Sherman said: "in 1857 the price of wool was 5l cents: in 1870, 46 cents; fin 1880, which was an abnor- nal year, 4s cents; this was the result of the policy of protecting the wool grower, as it is in all industries, to grad ually reduce the price Under the op- eration of the existing law the tariff of lS67) the price of wool has gradually gone down"
 Thomas Dolan, who was associated vita Lawrence and Delano, of Ohio, in the preparation of tn wool schedule of the Mckinney tariff. wrote a letter to the New York World short time ago, in which he said "lt is an interesting fact. deserving much emphasis of state- ment, that the prices of wool are lower now than they were one year ago This result was distinctly promised by the Proteetionists during the discussion which accompanied the framing Of the tariff bill."
 In nearly every issue last year the hightariff Manufacturer advocated in creased duties on wool, declaring that the result of such action would lower wool prices. Thus on Jan. l, 1890, it said: "Nhen duties have gone up, prices have gone down; when duties have de- clined, prices have advanced. The do- nestle manufactures has always had an abundance of superior fiber al ow prices unGer tariffs which imposed light duties up Ii wool, and he is to day paying more for wool than he would have paid if the defel tive tariff law of 1883, mlnstered by free trade a lministration, had not practically cut down the wool duties.
 On Oct l6, 1890. after the Mckinley tariff had gone into effect, t said: The prices of wool have always de lined when the duties have been advanced, and no doubt exists in the mind or any we'll informed man but they will again de- cline now that the new tariff law has put the duties up.
 No wonder that Mckinley avoids the wool question in his speeches in iustiti- cation of his tariff bill when his asso- ciates in Congress and the journals while supporting his tariff, declare that high tariffs lower wool prices and low tariffs raise them.