The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-04-05
WHAT CONTROLS PRICES.


in the worlds market.
WHAT CONTROLS PRICES.
In the. Bulletin OF the national associa-
tion Of wool growers for the quarter
ending September, 1891, there appears
an editorial doubtless furnished by Mr..
North, in which he says:
"Thc sympathy OF markets is world
wide, and the law:ofsupply and domand
penetrates everywhere, as surely US
water seeks its level. The tariff permits
us TO largely control our own market
but even when controlling it. we must
accept values that are beyond our con-
Here Mr.. North admits that the tariff
on wool permits us "to largely control
our own market" In this statement
Mr.. North inadvertently gives away his
case. The American wool merchants
do control the home market and the
price which the farmer gets is largely
controlled by them, always having in
view the fact that they must also accept
values that are beyond their control.
Mr.. North further states OH page o57
Of the same bulletin, rs follows:
THE foreign woods imported do not
represent IN equal number OF pounds
Of domestic wool displaced, but increase
the market for domestic WOOL" - +!
II tho foreign wool increases the mar
ket for domestic4wool, why not let it
come in without attempting to keep. it
out by tariff OF eleven cents a pound
in the grease. twenty-five cents a pound
washed, and thirty-three conts a pound
secured. q rs. .sl,l' 3. n
1t should be remarked in this connec-
tion that the word .".Ohio' applied to
wools,is not limited to woods grown in
that state, but to all woods Of like grade
in thesUnited States. z zl.z+..
In May, 1872, the price OF Ohio
medium, as appears by the table printed
OH page Al OF the committees report,
reached 10 cents in gold and the price
Of Port Phillip fleece in London was
only 47 cents, difference OF % cents in
favor Of Ohio wool. This is the only
time since the wool tariff Of 1886 at
which the American producer realized
the protection to which he was entitled,
if protection actually protects in this
case. - !, 81 -.
Mr.. North, on page 25s Of the same
article, gives the following encourage
ment 10 the American wool growers:.
There is,- therefore. nothing in the
situation which noed alarm or discour-
ago tho American wool grower. Ho
must learn to be satisfied with q small
profit on his wool rS-l
This may be consoling to the Ameri-
can wool grower. He must, under i
high protective tariff, expect smaller
profits on his wool, Ii, however, he
would only realize that protection does
not protect him, that he docs not got as
much for his wool under high protcc-
ton as ho would without it, lie need
not be content with smaller profits on
his wool. Foreign woods, rs Mr.. North
truly.stntes, 't.will not displaco an equal
number OF pounds Of domestic wool,
but will increase the market therefor.
Anincreased demand will produce an
increased price. .i7{
The pending Bill is in the interest of
the wool grower as well as the wool
manufacturer, but it is especially in
the interest OF the American consumer.
II the report Of your committee is care
fully considered it WILDE aeen that tho
experience OF tho last quarter Of cen.
fury of high protective tariff on wool
md high protective tariffs on wooden
goods has been disastrous to tho wool
grower, disastrous to the wool manu-
facturer and disastrous to the American
consumers.
INCREASED CONSUMPTION OF WOOL GOODS.
In conclusion, Mr.. Chairman, l desire
to call attention to tho fact that the
placing Of law sugar on the FREQ list and
tho corresponding reduction of tho
duty on refned-sugar the net OF Octo.
ber ], 1880, caused an increased con.
sumption Of sugar to the amount oi
23.00 pcrcentu,n during tho year 1891,
tho first year alter its Pussuge. 4
The passage OF the pending bill will
have similar effect. 1t will cause in.
creased consumption OF woolcn goods to
an equal amount. Such an increase in
tho consumption Of woolen goods would,
during the first yea, after its passage,
cause a demand for 597 more wooden
establishments and cause tho 27l cstab.
lshments which were idle during 1890
to be started up again. ~.
j. e. " . =