The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-07-06
the present price hero, the average
would be about as follows;
Say sig parts foreign free wool No.
COS botany tops AZ 10 eents-,., ., 40
Say one part American No CO.'S

bNlueu ny '''s.'..'' -f''''''''''''''' flssS'
Averages eents4..-,..,,..,..,. ,,....,.-....AS 81
"On this basis, therefore, 40 TO Az
cents seems to DO the highest price that
No. COS tops may reach with tree wool.
To arrive ut such an average, foreign
tops need to advance only about 8 cents
per pound aud American tops would
have to decline oYeE'3S cents per pound.
a decline OF that magnitude in tops
would involve q very serious drop IN
the price of American wool In the
fleece, the uncertainty as to which
must act az O menace TO trade, and
must disturb values until the cause OF
this disturbance Is removed.
"These 'top" prices and those OF raw
wool show an approximate agreement
We may,saiely conclude that free wool
would lower the rates here more than
four cents q pound-a loss TO our wool
growers OF Sl2,00O,OO0 or Sl5,0OQQOO
yearly, unless they can hire land at
cent an acre and labor al 20 cents day,
and live themselves like the wild bush
men Of Australia.
As our best wool circulars state the
case;
american mills have been consnm.
ing their supplies already on hand, and
for the pastmonth have RETAINED to q
surprising degree from further pur-
chases, their aim being TO have the
least wool possible in process OF manu-
faCture when theVchange takes place, as
a shFlnkage OF 80 per cent in the value
OF the usual quantity OF stock in pro-
cess would bankrupt most mills,
A feature has been the visitation
here by numerous representation
from European markets. These enter
prising foreign wool dealers are taking
time by the foFelock and are the nd
vance guard Of the foreign houses seek
ing connections in the American mar
ket for an increased outlet for all sorts
OF foreign woods, many OF which are
now excluded by the present tariff
They anticipate wool being made duty
free and are preparing Tor 1t already:
The fear Of change, OF course, de-
presses the market.
TO SUM UP.
An immense increase Of the worlds
wool product, chiefly in Australia, has
reduced prices in London and elsewhere
about 4Oper cent. since 1871.
Our wool tariff has been shield
against the full force Of this great fall
in prices, not keeping our wool up to
the old prices, which was impossible,
hut keeping 1t above the London rates.
Cur wool and wooden duties have
built up wool.growing industry In
which million fiockmasters have in
vested over S100,000,000 in sheep, and
an equal sum in barns and fixtures,
and are paving, besides their own labor,
some S24,000,000 In yearly wages four
times higher than the pittance OF the
Australian herdsmen, while our 5000
wooden mills, with sS20,000,000 in.
vested pay $40, 900, 900 yearly, the highest
in the world for like labor, and furnish
wooden goods to the people lower IN
price than ever-the medium voolens,
which make five-sixths Of the peoples
wear, selling in clothing at prices very
near, If not quite, the same as in Eng
land.
Shall these enormous investments OF
over $500, 900, 900 be ruinedp None are
hhIAoN VI WAVhkON W OASA' %hSy
serve the common good.
Free wool will give prices ruinously
fluctuating and dependent on foreign
markets.
Protection will, as it has, shield us
from ruinous fluctuations, keep prices
steadter, higher on the average for
time, yet such that the people can. as
they have, buy the cloths, the final pro-
ducts OF these great home industries, at
reasonable rates. Let protection be
continued and we shall moro and more
control our own markets and the people
will BIO the gamers.
To smite down this great host Of
fiockmasters and to destroy their home
market, the only possible market for
them, is not only blind folly but wan
ton cruelty.
The Michigan newspapers quoted by
our correspondent represent the blind
and narrow prejudice which eliminates
in this free wool cry. "Given over to
believe a lie" is the fit verdict in their
case,