The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1892-09-07
Wool Values At Home And
Abroad.
Michigan Farmer.

Michigan Farmer.
The following letter to S. G.. Lock
wood, of Howell, Livingston Co, from
Justice, Bateman IL CO., of Philadel-
phia, in answer to some inquiries by
the latter, contains some information
regarding wool values of general inter
est to those engaged in its production.
We give the letter in full
PHILADELPHIA, Aug. 18th, 1892.
Mr.. 5. &. Lockwood, Howell, Mich.
Dear Sir: We have your polite note
postmarked on 18th inst. with reference
to the prices of wool under the McKin-
ley law. We are pleased to have your
inquiries. The facts are as follows:
Ever since we have had tariff, the
average price of secured wool in the
United States has averaged over 81 per
cent higher than the value of the same
kind of wool in free trade countries.
OF course it is disappointment ofgrow-
ers to have to take less money for their
wool under the Mckinley bill than they
at times received before, but foreign
wool-growers have had a greater de-
cline, for while woods have been de-
clinng in the United States from 10 to
- per cent, the same kind of wool
shipped to the great London market by
wool growers from all other wool grow
ing sections declined about 30 per cent
during the same period, and had it not
been for the Mckinley law, American
woods would also have declined 30 per
cent in the United States, the same as
London. The point for wool growers
to consider is: what would be the value
of their wool if wool was put on the
free list? The freight on wool in com
nracSaI halac from I.nnInn In Naw
York is much less than the freight from
Ohio or Michigan to New York. With
free wool the London prices would be
the American prices, and the best
Merno woods from Illinois, that now
cost the American manufacturer from
go to 66 cents, which is the price here
to-day, can be bought in the great free
| trade London market in unlimited
quantities at 30 cents, secured clean.
OF course if the duties were taken from
imported wool, the American wool
could no longer bring from go to 66 cts.
secured in the United States as now,
but would bring London price, which
to-day is from 30 to 33 cents. Now if
30 to 33 cents for secured skirted wool
in the United States is TO be the price
for woods that are selling here to-day in
the fleece at from % to 81 cents, the
latter under free trade would have to
sell at from 10 to II cents in the fleece
to produce secured wool at the present
London prices of from 30 to 33 cents.
If the fleece price under free trade in
the eastern seaboard market was from
10 to II cents, us it would be, the price
on the farm in Illinois and Michigan
would be from two to three cents less,
or only eight to nine cents or even less
Politics out of the question, and con.
sidered rs matter of business, the
question is, whether wool growers by
their votes will decide to accept free
wool, and take eight to ten cents fol
washed Merino woods on their farms
which to-day are selling 20 to ~ cent:
in the Philadelphia markets. This is
all there is about it. We apologize fol
making this letter SO long. We could
not make the case clear in short letter
1t is safe To say, and it can be proved
without contradiction, that every pounC
of secured wool worth under the Me
Kinley bill to-day from 60 to 90 cents il
the United States, can be replaced in
the London market, rs good in every
way at from 30 to 33 cents there. Thus
you will see that after the duties ar,
removed, the London prices of from 81
to 33 cents secured, will be the Ameri
can price, instead of the letter bein.
double the London prices as it has beer
ever since we have had protective tariff
Very truly yours,
JUSTICE, BATEMAN ~ Co.