New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-10
THE QUESTION FOR WOOL-GROwERs

THE QUESTION FOR WOOL-GROWhfS.
The latest circular OF Coates brothers. giving
nrlccs of domestic wool ~ Nil kinds. Is more
interesting than pleasant for woolGrowcrs
Prices have declined again. and the average oI
l0l quotations Is for the first time below j"
cents namely, l2T2 cents. Since May the
decline has been over half n cent. and since the
silver holters defeated the emergency Iar1H
bill the average has fallen almost cents for
all qualities. The Senators whose constituents
grow II large share OF the wool still produced
In this country have occasion to explain TO
those constituents why they have been deprived
of . cents Der pound on their wool by the votes
Of their Senators In n senseloss attempt to help
silver miners. which has IN fact. tremendously
intensified and concentrated the opposition 20
silver coinage
In May 1891 five years ago. the same quota
tions by Coates Brothers averaged 24I cents
per pound. 50 that the fall has been ll.S7 cents
per pound. or q ~ per cent. There are people
who pretend 70 believe that the decline IN wool
abroad has been great. But the quotations
given by The London Economist averaged for
twelve OF English wool 1917 pence juno ],
1891. ana 1905 pence May %. 1896 fail OF
only 6 20 per cent: and FOR thrty-six quotations
OF colonial and foreign wool 1860 pence In 1871.
against ll.JS pence In 1896. decline OF l3ll
per cent only an eighth Of the great fall In
this country occurred before the Inauguration
Of President Cleveland. though Australian wool
was going down. for the average OF the same
IOi qualities September l. 1893. was 23.3l cents.
But the expectation Of reduced duties began 10
close up woollcn mills aS early AZ APRIL lSI'.
and from that time the fail In quotations has
been nearly seven times as great rs IN the two
previous years There was little recovery IN
the fall OF 1894 and almost ms much last fall,
when many mills did good business for time.
But enormous lmportatIons Of foreign woolcns
and of Australian wool. which have overloaded
all the markets. have made any substantial IT,
covcry impossible. The American wool grower
Is left 10 depend entirely upon the purchases
OF mills which the reduced duties do not permit
to run Mt az much as half their capacity.
This was the situation which Republican
members OF Congress unanimously sought 10
change by imposing part Of the former duties
on wool and woollens. 1t was not such meas
urc ms they would have proposed except In the
hope that. In view of the emergencies OF the
Treasury, n Democratic President might ION
sent to some moderate increase as better for
the people than another sale Of bonds. No one
has ever been authorized % say that the meas
Cleveland If IT had not been stopped In the Sen
atc 10y conspiracy Of his friends with the
silver men, but It Is certain that he could have
secured votes enough for It's passage by word
to those friends. and thus could have rendered
another sale of bonds unnecessary. His par
tisanshlp prevented But silver Senators. whose
party obligations and profcssed convictions and
duties to their constituents bound them TO sup
/ nn,, nf ntnf NOT ,,rty
Joined Democrats In conspiracy to defeat Tint
measure, but themselves formed that conspiracy
and boosted Of It,
In view of these facts, 1t will be interesting TO
know how the wool growers of different Sec
lions have been affected. The heaviest loss of
all has been sustained by the growers Of Mon
tana wool, for which they have to thank Sen
ators Carter and Mantle From an average OF
POI cents In 1891. Montana wool has dropped
to M average Of o. cents, or 54.7 per cent Next
comes the wool OF Utah and Wyoming, which
has dropped from 1914 cents to 90. or 81 per
cent and the Senators from Utah are largely
responsible The wool Of Colorado dropped
from 1876 to 1915 cents, or 40 per cent, and the
fall In New-Mexlcan wool was the same, and
! Senator Teller Is ut liberty 10 explain. Texas
Senators are responsible for the fall In wool Of
their State from POI to 10j cents, or AT per
cent This happens to be exactly the ratio Of
| loss on Ohio. Pennsylvania md West Virginia
| fleece. for which two Democratic Senators can
answer from $50 to IFS cents, and the fall on
New-York. Michigan. Indiana and Wisconsin
woods, for which Senators Voorhees,, Turpie and
Villas may explain. from 1913 to II cents was
Ala per cent The decline 'on combing and
delalne wool from 345 to 17o cents was little
greater In proportion, 4S.1 per cent, and on