Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1891-11-19
ANCIENT ECONOMISTS.
David A. Wells Tells about the McKinIeys
of the 10Th Century.


Mckinley, Aldrich, Delano and Law
fifteenth century, remarks DavidA. Wells
in the Boston Post Very true they did
not personally; but exactly the same type
of men did then live, and, for all We
know, may have had the same names
Anyway, they followed the same occupa-
ton of instructing the people of England
us their namesakes or representatives are
now instructing the people Of the United
States, how 1t was best to regulate the
trade in wool. And it may be interest
ing and perhaps not Improbable
to set forth the conclusions to
which they came and which they prac-
tically carried out The problem the six
tenth century instructors had to grapple
with was substantially the same as now
| troubles their representatives In the nine
| tenth, but in reverse terms. England
then claimed that she produced wool of d
quality superior to that of any other coun
| try, and that the wool of other countries
could not, without some mixture of
English wool, be wrought up in any toler-
! able manufacture. She therefore thought
| it TOR her interest that the manufacturers
of other countries should get none of
| it. and that if its expectation
| could be totally prevented England
would monopolize the wooden trade of the
world, and havinc no rivals, could sell at
what price she pleased, and so in a short
| time acquire the most incredible degree of
wealth. This theory, as experience sub
! sc IuenGly proved, was perfectly false, but
| the statesmen of that period were prac-
tical men and did not stand in need of
any aid from theorists and Literary fell
! I,.h toto
| of the United States at the present time
know that their country does not and can
not produce the quantity and quality of
wool which the people and manufacturers
need, and so they consider it good
! policy and one certain to secure to the
country an Incredible degree OF wealth to
f, prevent other countries from supplying
| these deficiencies. The Mckinleys aud
i the Aldriches of the sixteenth century had
a perfectly clear idea Of what they wanted
and how to do it; and they were not
| troubled in the least degree by any hu
manitarian sentiments {such as the social
scientists of today are inculcating) Or any
absurd notions about treedo n either of
trade or of the person. The Mchlnleys
and Aldriches Of the nineteenth century
also appear to be one In sentiment in these
respects with their prototypes OF 800 years
or more ago, and to have initiated their
action so far as the present greater re-
straints of our civilization will permit.
And with this preface let US see what the
former did:
by the act of the eighth of Elizabeth,
1866, any exporter of sheep, lambs Or
rams was to forfeit all his goods forever,
to suffer years Imprisonment. and then
have his right hand cut off in O. market
VII Ia1
Don a pillory. For the second offenSe
he should be adjudged felon and suffer
death.
I'm the days of Charles II. no person
within fifteen miles Of the sea was allowed
to buy wool without permission of the
king; nor could it be loaded on any vehicle
Or carried except between sun rising and
sun setting on pain of forfeiture
and a fine Of three shiiiings
for each pound (about four tiues its then
value) Any merchant or other person
! convicted of these offences was further
punished by being disabled from collect
| ing any debt or amount belonging to him
fIom any factor or other person. Tie
The people of the hundred (parish) next
adjoining the seacoast, out or through
which the wool was carried or exported,
! forfeited $40 ii the wool was under the
value of el0, and, If OF greater valu2,
then treble that amount, together with
| treble costs. Execution could be
had against any two of the inhabitants.
| From this las provision ii will be seen
where the idea ADOPTED by Mckinley and
Aldrich, of increasing the duties OF coarse
woods froms32 to fifty per cent. whenever
the pound value OF such WOODS exceeded IL
cents by even the merest fraction, probably
| had its origin.
at ought to be most instructive to also
note that under such restrictions the trade
and commercial movement Of wool. the
price of wool in England exhib
tied the same phenomena as
have followed in these latter days
similar restrictions in the United States,
namely, continued depression In the price
of domestic wool, which in the former
country finally touched q figure less than
It had commanded in the time Of Edward
| ILL., 200 years before. To change this
state OF things ana BY creating better
market for wool through n new and en-
forced use of it, remedy the great decline
in its price. parliament in 1878 enacted
| that every corps should be buried ID 4
WOO en- sEroud Gen. Garfield in a lecture
| On the Mercantile System, which he gave
about 1870. after quoting and specially re-
| ferring 10 this shroud enactment, added
to it the following comment. as full of
meaning now as then: And IN such
shrauds they were burying not TIE bodies
! of Englshmeu alone but the spirit OF
} English liberty and industry"