New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-03
TUE QUESTION or WOOL.

The letter of Mr.. Justice. Of Philadelphia pub
lishcd on Saturday, contains information which
should not be- overlooked because II squarcly
mccts two arguments which defenders Of the
frce.wool tariff are wont 10 use. one Is that
nrIccs Of American wool are low only because
prccs Of wool have fallen In other countries.
Mr. Justice submits London quotations for eight
uuolItles of wool most largely used In competi-
ton with American, October l. 1891. after one
year Of the Mckinley act and September |, 1880.
after one year of the frce-w0o tariff proving
that the foreign decline has been comparatively
small ON Port Phillip and New-Zcaland 1t wis
about 1 per cent: on Cape. Port Phillip secured
and NewZcaland somewhat less; on the two
kinds Of English wool there was no decline. and
ON fine Cape secured about per cent. The
average for all kinds is only 81 per cent. Al
the same time quotations of twelve kinds OF
domestic wool At Philadelphia are given for the
Same dates. and six out Of the twelve show de-
clines of 40 per cent or more. The average for
all the quotations is now 800 per cent lower
than II was one year after the Mckinley act
went into force.
One other claim often made is that domestic
wool must advance in price when the manufact-
IRE grows prosperous with the stimulus OF free
wool Senator Voorhees,. chairman Of the Sen
ale Finance Committee. shortly after the pas
sage of the free-wool act declared TO his constlt-
uents. according to Mr.. Justice that within two
weeks from that date wool would sell AT higher
prices than prevailed at any time under the old
law. How mistaken was his prediction the fig
urcs prove Using Il larger body Of quotations
than Mr.. Justice gives in his letter of Saturday.
MI no
market 1t is found that the average Of all quail
ties never fell at any time below 22l2 cents
from October. 1891 when the Republican tariff
went into effect, down to the inauguration OF
President Cleveland, the advocate of free wool
The average was 1881 cents March |. 1893, and
had been 2J.39 cents under the Republican act
But the same 10t qualities in the same market
averaged 1892 cents in October, 1894. after the
frcc-wool act was passed dropped gradually to
~ 90 last June and have since recovered IL
cents Al the highest point touched under the
present tariff the average is ~ cents or 3iJ per
cent below the lowest point from The passage
of the Mckinley act 10 the inauguration OF Mt
Cleveland and 1913 cents below the highest
average during that time.
YET II is TO be admitted that the price Of wool
may rise when enough sheep have been Killed
off TO make American wool too scarce for the
especlal uses which no other wool fits so well
The number Of sheep killed already exceeds
1000 900 In January. 1893, the number in the
country was 47273.jJ3. and the farm value
SloJ 100000 But in January, 1875, the mum
her Of sheep was - 29l,0 and the value only
S,a;. 100000. a loss Of nearly S60O00.OOO in two
years. But further the number slaughtered ut
.i,,l,t nftN I'm hl.nn
$50 49G. against 1,GG4,37S in the same months
of last wear. and 1,1GG,l95 TO the same date in
1872 At that rate the number may become
small enough after Il time TO give American
wool a better value for certain purposes. since
for these no foreign wool IS equally fitted. But
the wool growing farmer will hardly appreciate
the policy which tells him TO kill off half his
sheep and take half price for the rest in order
to get something better than twothirds OF the
price he used to get for wool.
The only salvation for the grower is to main
tain the manufacture. and the only salvation for
the manufacture Is to maintain the grower Men
are saving that "the wOollen works are busy and
thriving with free wool" but il is extremely
difficult to believe that any man can be ignorant
enough to make such statement without men
dacious intent. The latest Textile Manufact-
urers' Journal reviewing the situation, says
that even in dress goods there is quite quantity
of the machinery that Is not yet employed so
that regular dress goods works are trying to use
their machinery for something else, and that the
average mems wear manufacturer finds that he
has not obtained orders which will carry him
beyond the middle of October" about half the
season. and that probably that month will w
ness the stoppase of a great deal of machinery
Whatever the future may bring. it is neither true
that the woollcn machinery is all employed to-
day. nor IS it true that orders for two months
work out OF four months season constitute
brilliant prospects, The manufacturer. ii IL
probable will say for himself what he thinks Of
the frcc-wool tariff before Congress assemblies.