The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1895-09-12
THE QUESTION OF WOOL.
New York Tribune.

New York Tribune.
The letter OF Mr.. Justice, of Phladel-
phla, published on Saturday, contains in
formation which should not be overlook
ed, because 1t squareiy meets two argu-
ments which defenders of the free-wool
tariff are wont to use. One Is that prices
Of American wool are low only because
| prices Of wool have fallen in other coun-
! tries, Mr.. Justice submits London quo
! tations for eight qualities of wool most
| largely used In competition with Amer
lean, October /, 1891, after one year of
the Mckinley act and September |, 1895,
| after one year of the free.wool tariff,
proving that the foreign decline has been
comparatively small. on Port Phillip
and New Zealand 1t was about 4 per
cent; ON Cape Port Phillip secured and
New Zealand somewhat less IN the two
kinds of English there was no decline,
and ON fine Cape secured about per
cent The average on all kinds was
only S5I per cent. At the same time
| quotations of twelve kinds of domestic
wool at Philadelphia are given for the
/ same dates. and six out of the the twelve
show declines of 10 per cent or more.
| The average for all quotations Is now
| S95 per cent lower than Il was one year
after the Mckinley act went into force.
One other calm often made is that
domestic wool must advance In price
when the manufacture grows prosperous
with the stimulus Of free WOO. Senator
voorhees,, chairman of the senate finance
committee. shorty after the passage OF
the free-wool act, declared to his con-
stituents. according to Mr.. Justice. that
within two weeks from that date wool
would sell at higher prices than pre-
vailed at any time under tho old law.
How mistaken was his prediction the
figures prove Using larger body of fig
ures than Mr.. Justice gives in his letter
Of Saturday, covering i0i grades and quail
tiles in the same market. II Is found that
the average of al qualities 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 $3.50 cents under the
Republican act, But the same i0l quail
tiles In the same market averaged IL 32
cents in October, 1891, after tho free-wooI
act was passed, dropped gradually to
1909 las June, and have since recoverd
LIZ cents. At the highest point touched
under the present tarl1 the average is
"a cents, or A5 per cent below the
lowest point from the passage OF the
Mckinney act to the Inauguration OF Mr..
Cleveland, and 10.5S cents below the high
est average during that time.
Yet Il Is to be admitted that the price
OF wool may rise when enough sheep
have been killed on TO make American
wool too scarce Cor the especial uses
which no other wool lts so WELL The
number OF sheep killed already exceeds
5,C00,OO0 In January. 1893. the number In
the country was i7.27S.55S. ana the farm
va.ue S25,900,000. But in January. 1895.
the number OF shecp was 49.29LO6t and
the value only S66, 100000. loss OF nearly
$50, 900 in two years. But further. the
number slaughtered at Chicago alone in
eight months OF 1895 has been 1.S2O l96.
against iieilS5S Ia The same months OF
last year. ana ilss.Gs5 20 the same date
Ia 1899. At that rate the number may