Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1892-12-22
AN EXTRA SESSION
A WOOL EXPERTS OPINION ON THE
NECESSITY or HOLDING 1T.

The Situation That Confronts the woolen
Manufacturer Il Grave and Must BE
Faced--UnIess Free Wool Bill Is Passed
Soon the Industry VIII Suffer.
The following letter to the New York
Evening Post is from Mr.. Abraham
Mills, a recognized authority in the
woolen industry. II there werenot hun
dreds of other reasons, those given by
Mr.. Mills would be sufficient to justify
a dozen extra sessions of congress:
sm-will you permit me as a veteran in the
trade to thank you for your editorial Of the
18th upon wool and woolens, and to present
some ideas upon the same subject which would
hardly occur to any except those familiar with
the technicalitiea of the trade?
The situation which cOnfronts the woolen
manufacturer is this: In the near future we
are to have free wool and a smart reduction OF
the duty on woolens. This is as certain as any
thing human can be, and the situation must be
faced. Losses must inevitably be made, and
the thing now is to make them as light as pos
sible. This, think, can only be done by either
getting the senate this winter to pass the free
wool bill now before II or TO get o new congress
If this is not done, and done quickly, all Europe
and the continent particularly, will run its
machinery 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 woolen industry during this period will
be pitiable. Many mills will be closed, and the
remainder will run short time. This means
disorganization and great suffering to both
proprietors and workmen. 1t would also pre-
pare the way for the reimposition of the heavy
duties on wool and woolens, from which we
have with such difficulty and labor just eman-
cipated ourselves.
In confirmation of this view we have just
learned from Europe that English woods have
advanced a penny a pound, fine woods are
much stronger, the wOolen industry much
more cheerful, and that the Titus Salt COM
pany, instead 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 man.
ufacturer as to the cost of the raw material
and would advance it smartly and naturally
with 65,0OO,OOO people coming into the markets
of the world as 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. II
the bill is postponed, to say, July, 1894, there
will be enough goods made in Europe before
we can get as cheap wool as our rivals to
swamp us when we come into the markets OF
the world at Il much higher price for our raw
material.
These arguments have m equal bearing upon
the price of domestic wool. Stocks are now
smaller than have ever been known. The west
seems completely cleaned out of everything
but territory kinds. The effect of the new
tariff upon present small stocks would be con.
sequently trifling. Asto the next clip, if for.
eign wool were made free July, 1893, there
would be a great advance all over the world
and the domestic article would participate il
that advance and find a ready market. But il
the change is postponed and the anticipation
of it hangs over us for eighteen months, do
mestic wool will drag along at panic prices be
cause woolen goods will do SO. Much ma
chinery will be idle, and the whole industry
wool and woolens, will be in disorganizeC
and ifeless condition pending such radica
change.
The situation dn the goods market is mucl
the same. 1t is'only this year that the stock
of foreign goods imported in anticipation O
the Mckinley bill have been worked off. Thi
has given the market largely to the American
manufacturer and has enabled him to sell hi
goods close upto production. There has rarely
been time when stocks, either in first hand,
or among the jsbbers, have been smaller. Dur
ing the next six months it is safe to say mill
will run merely on orders and carry no stocks
and dealers will carry only what their abso
lutte necessities call for. In fact it is an idea
situation ando most opportune time in whicl
| to reduce duties. Nothing can be gained b,
| delay, and much may be lost
am deeply impressed with the seriousness
of the situation, and thoroughly believe tha
| the path of safety is that of courage.