Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-04-05

quoted and published on pages 20 and Il OF
the committees report. II IS not the tariff
that controls the price of American wool;
tits the value of wool in the worlds mar
kets. Mr.. North, in the editorial referred
10, on page 36S, says that:
THE price of Ohio washed fleece wool
previous TO the last two years has quite
uniformly higher than the price OF the
nearest corresponding grade of Auatralian
wool port Phillip fleece) but rarely by the
full amount of the duty upon class WOOL"
HERE 1T WILL BE SEEN
that Mr.. North states distinctly that the
Ohio washed fleece is the American wool
which is the nearest corresponding grade
TO the Australian of Port Phillip f1eec5.
The Committee called upon the bureau of
statistics TO furnish it with prices of an
American wool, which was OF the nearest
corresponding grade of some foreign wool,
so as 70 determine the relative value
(Which is always determined by the price,
of like quality in both markets. This IL
formation was given, and the Ohio washed
fleece and the Port Phillip 1esce have been
recognized by the mercantile wool dealers
for more than q quarter OF century as
woods of the nearest corresponding grade.
And these two woods being Of nearest cor
responding grade it will appear by the
y
indicated, are Of practically the same value
in both countries, for value is determined
by price, the price at which each sod,
showing that on the average the foreign
wool was worth quarter Of a cent more in
London than the Ohio wool was worth in
Boston. In the Bulletin of the National
Association of Wool Growers for the quar-
ter ending September l, 1891, there appears
an editorial doubtless furnished by Mr.
North.
IN WHICH he SAYS:
1.-The sympathy of markets is world wide
and the law OF supply and demand pene-
trates everywhere, as surely as 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 control"
Here Mr.. North admits that the tariff on
wool permits US ITO largely control our
own market" In this statement Mr..
North inadvertently gives away his case:
The American wool merchants DO control
the market aud 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 on page 257 Of
the same bulletin as follows:
The foreign woods imported do not rep
resent an equal number Of pounds of domes-
tic woods displaced, but increase the mar
ket for domestic wool"
II THE FOREIGN WOOL
increases the market for domestic wool
why not let il come in without attempting
10 keep il out by tariff of II cents pound
in the grease. % cents pound washed and
50 cents pound secured.
Il should be remarked in this connection
that the word Ohio applied to woods is
not limited TO woods grown in that State,
but all woods of like grade in the United
States. the Ohio medium wool and the
Port Phillip fleece being both washed
woods, the tariff on the importation of the
Port Phillip fleece would be % cents a
pound. If protection to American wool
protected to the amount Of the tariff the
Ohio wool should be worth % cents pound
more than IL actually was during the twen-
ty-fve years covered b. the present tariff
In MAY, 1872, the price of Ohio medium,
as appears by the table printed on page Al
of the committees report, reached 40 cents
in gold. and the price Of Port Philip fleece
in London was only a. cents, difference
of % cents in favor of Ohio wool. This Is
the only time since the wool tariff of 1864,
at which the American producer realized
protection actually protects in his case.
THIS CIRCUMSTANCE
is explained by Mr. Avery, as heretofore
stated, showing the wild speculation in
woods of all kinds in the United States,n
and also by the further fact which appears
in a taoie printed on page % of the report,
namely, that during the year 1872 the i'm
ports Of foreign wool reached l26,00O,
0JO pounds, while the average i'm
ports of woods for the five years preced-
Ing was only 44.O0O,00O pounds for each
year. This immense increase in importa-
tons brought the foreign wool into compe-
tition with the domestic. 1t will also be
seen that the production OF domestic wool
for 1892 was only 15O,0O0,000 pounds, while
the production for 1866 was $50 000, 900, the
issue showing a large falling of Of produc-
tion and immense increase in Imports.
These two facts explain the conditions
which prevailed IN 1871 and 1872, and de-
scribed by Mr.. Avery and caused the
Fabulous profits realized by spectators,
etc But allowing Ohio wool this advan-
tage which existed but for one month, the
general average for the twenty-five years
showed less than half cent pound more
in value in Ohio wool than the correspond
ing grade of
ICOnfinued ON Fourth POqe