Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1892-12-01
amman mills
On the Wool Tariff and the Extra Session
OueStion.


Question.
TO The Editor Of tie EfeHing POST
SIN: VIII you permit me as veteran
in the trade to thank you fer your edi-
torial of the 18th upon wool and
wpolens, and to present some ideas upon
the same subject which would hardly
occur to any except those familiar with
the technicalitics of the trade?
The situation which confronts the
woollen manufacturer is this: In the
near future we are TO have free wool
and smart reduction Of the duty on
woolens. This is as certain as anything
human can be, and the situation must
be faced Losses must inevitably be
made, and the thing now is to make
them rs light as possible. This, think,
can only be done by either getting the
Senate this winter to pass the free wool
bill now before it, or to ret new Con
gress to pass such a bill in extra session
next spring. If this is not done, and
done quickly, all Europe, aud the Con.
tlnent particularly, will run its machin-
cry night and day making staple goods,
with the present cheap wool and low
wages and cheap money there, to be
sent to America the moment the tariff
barrier is down. The amount of goods
then thrown in here will probably be
large enough to flood the American
market perhaps for two years. The
condition of our wooden industry dur
ing this period will be pitable. Many
mills will be closed, and the remainder
will run short time. This means disor-
ganization and great suffering to both
proprietors and workneu. 1t would
also prepare the way for the reimposi-
ton of the heavy duties on wool and
woolens, from which we have with such
difficulty and labor just emancipated
ourselves.
In confirmation of this view we have
just learned from Europe that English
woods have advanced a penny pound,
line woods are much stronger, the
WOODEN industry much more cheerful,
and that the Titus Salt Company, in
stead of going INTO liquidation, are to
resume making goods for America
The immediate abolition OF the wool
duty would put us on par with the
European manufacturer as to the cost
Of raw material, and would advance it
smartlyi and naturally, with 65,O0O,000
people coming into the markets of the
world us customers. And this is the
only way the American will be able to
get any benefit from the protection Of
40 per cent which the new law will
likely allow him. If the bill is post
poned to say July, '9i, there will be
enough goods made in Europe, before
we eau get rs cheap wool as our rivals,
to swamp us when we come into the
markets of the world at a much higher
price for our raw material.
These arguments have an equal bear
ing upon the price Of domestic wool.
Stocks are now smaller than have ever
been known. The west seems com.
pletely cleaned out of everything but
territory kinds. The effect Of the new
tariff upon present small stocks would
be consequently tritling As to the next
clip, if foreign wool were made free
July, '03, there would be great adj
vance all over the world, and the
domestic article would participate in
that advance and find ready market.
But if the change is postponed and the
anticipation OF 1t hangs over us for IS
months, domestic wool will drag along
at panic prices because wooden goods
will do so. Much machinery will be
idle, and the Whole industry, wool and
woolens, will be in disorganized and
lifeless condition, pending such a radi-
cal change.
The situation in the goods market is
much the same. 1t is only this year
that the stocks of foreign goods imported
in anticipation of the Mckinley bill
have been worked off. This has given
the market largely to the American
manufacturers and has enabled him to sell
his goods close up to production. There
has rarely been atimc when stocks, either
in first hands or among the iobbers, have
been smaller. During tie next six
months, 1t is safe to say, the mills will
run merely on orders and carry no
stocks, and dealers will carry only what
their absolute necessities call for. In
fact, it Is an ideal situation and most
opportune time in which to reduce
duties. Nothing can be gained by delay,
and much may be lost.
am deeply impressed with the sori-
BUSINESS of the situation, and l thor
oughly believe that the path of safety is
that of courage, ABRAHAM MILLS.
New YORK, November ED.