The morning call., 1893-09-14
WOOL IS MOVING.
Doing Business on Free
Trade Basis.
PRICES AT THE LOWEST EBB
The Manufacturers Are at Last
Forced to Purchase rIaterial for
the Spring Market.

The people who are interested in the
wool business are getting a foretaste OF
free-trade prices little to their liking.
The manufacturers who supply the spring
market have waited as long as possible to
see what action would be taken by Con-
gress with reference to the tariff, but as
that body has not as yet declared that II
would let the duty on wool alone. the mlll
men are going to work on 1ree-trade
basis.
Even if all the mills that have been shut
down should resume work at once that
would not by any means make good the
amount already lost to the producers.
The sales are 10000 900 pounds behind as
compared with those of other seasons, and
the warehouses of the commission men are
crowded with last springs clip. while the
fall wool is not in sight.
There is some wool moving" said +. I.
McClennan. a large commission man, yes
terday, but il is being handled on free
trade basis entirely. That is. it Congress
should absolutely repeal the tariff on wool
the price would not decline below present
quotations.
There is nothing which can effect prices
in the least, except something definite from
Congress, and the moment that the word
is given out saying that the teriff will not
Oe changed the price of wool will go up
ike rocket.
$50 l say the market has improved to
this extent that there is some wool moving.
There were two reasons for the utter
paralysis of business during the last few
months. OF course, one was the fear OF
tariff legislation aud the other was the con-
diti0n of the money market, which made 1t
impossible to get means with when TO
4 III Late On
of depression has been removed and money
is much easier. which accounts for the fact
that wool is moving at all.
But the manufacturer cannot be blamed
for going on the only safe basis for him.
The Democratic party Is pledged to re-
duction of the tariff and it is only fair to
assume ii will keep the promise until the
contrary is proved.
In four months the price of wool had
dropped from % to 60 cents a secured
pound TO 80 TO 30 cents. and the latter
figures are not lar from the prices now
ruling in foreign markets. The amount OF
The decline corresponds almost exactly
with the tariff on wool.
"Of course. II Congress should take no
action the manufacturers are going to make
some money. for they will be able to sell
the finished product with the advantage of
being protected, while they bought the raw
material on a free-trade basis; but this
will not do the producer any good. He
will be none the richer because the manu-
facturer has made something.
THE reduction of the price in the raw
wool is not the only step toward preparing
for active competition with foreign goods.
This Is just good sample of many no tees
now appearing IN our trade journals" and
Mr.. McClennan produced the following
clipping:
The Wilson wOolen-mlls at Trenton, n. j.,
have resumed operations with a reduction of O
per cent in the wages of their 800 employees.
wages have to come down on the same
basis. For it is not to be expected that
our manufacturers can afford TO ray any
more for their work than their cOmpeti-
tors are paying. and 1t is nothing but wi at
we must expect
THE people who are wOol-growers mu L
compete with producers who have no
capital invested in land. but rent them
from the crown for cent and a half an
acre, and those who are employed in the
mill cannot expect 10 receive better wages
than persons doing the same work in the
mills in England.
ut is with that in view that the manu-
facturers are accommodating them selves
10 the circumstances. We are already
having all the effects of free trade itself,
and there is no power that can alter the
conditions until Congress says that the
tariff shall not be reduced. 1t would be in
tinitely better if it would say so in manly
way, rather than pretend to be dong some
thing and do nothing For then the effect
would be instantaneous, and every mill
which is now in enforced idleness would
be at its full capacity in thirty days, and
the producer who cannot now dispose of
the stock on hand at actual cost would find
a ready market.