The San Francisco call., 1896-09-10
AMERICAN WOOL
MADE UNSALABLE
How an Industry Was De-
stroyed by Democratic
Free Trade.
WOOLEN-MILLS CLOSED.
Seventy-Five Per Cent of the
Factories Went Out of
Existence.
MEN THROWN OUT OF WORK
England, as Usual, Reaping the Ben.
eft Of the Disaster in the
United States.
MEN THROWN OUT OF WORK

The circular OF Justice, Bateman & Co.,
wool commission merchants of Phila-
delphia, dated September 1, contains a
review of the wool industry which possesses
more than ordinary interest at this time.
1t is not surprising that the wool business
during the past month has been the dullest on
record in view of the fact that over rs per
cent of the wooden machinery of the United
States is either entirely stopped or running on
short time. The sales of domestic wool during
the six months following the defeat of the
Dingley bill have been less than any average
months sales under the Mckinley period.
Although the American clip is known to
have decreased over 100, 600, 900 pounds since
the repeal of the Mckinley duties, the supply
of all kinds is to-day in ecxess of any previous
period. The excessive importations of foreign
raw wool on the one hand, and the decreas sed
employment for American mills on the other,
have both contributed toward the surplus; the
quantity daily thrown out of by the
closed mills being equivalent to just that
much increase in the supply, and the longer
the mills remain closed the larger the sur
plus beco mes. Wool warehouses are full to
bursting with stock for which there is no sale.
The shortage in the domestic clip was con-
sidered sure guarantee of higher prices, but,
owing to the closed mills. there are millions
OF pounds OF wool most of which is In the
Territories, for which there are no buyers
or commiss ion-houses who care to take it
unless cash advances are not required.
Wool in London since the Mckinley duties
were repealed has advanced over 9 per cent,
while woods of the same kind and quality in
America have declined over AZ per cent. AS
the gold standard for measuring values pre-
walls in both places 1t is evident that these
price fluctuations in opposite directions are
caused by the removal OF the wool tariff dur
ing the existence of which prices In London
for over twenty-five years averaged 81 per cent
rf,,v. Il vT~,A u
woods in the United States. Now instead of
being double the London price, American
woods are 9 per cent below the London price
ana are being exported because, Tor the first
time in our history, they are unmarketable
here. SO much for less than two years OF free
trade
What has William ]. Bryan to say to this
outcome in view of his speech in the second
session of the Fifty-third Congress on the Will
son bill, when he said:
Speaking for myself, It is immaterial in nv
opinion whether the sheep-grower receives any
benefit from the tariff or not. / for free wool
in order that our manufacturers unburdened by a
tax upon foreign wool, and unburdened by like
tax upon homegrown wool, may manufacture for
a wider market
Relief to the wool market may come through
speculation growing out of II restoration of
confidence resulting from McKinley's election
and the prospect of the restoration of wool du-
ties within year thereafter, or it may come
through the export of the surplus to Europe
movement in this direction has already be-
gun.
by one of the largest Massachusetts mills
about 1000 bales of Australian wool and as
much more has been shipped by other parties
including 800 bales of French secured wool
The first to go back to Europe OF course will De
the imported qualities that are well known
and popular there. Il is not improbable, how
ever, that important shipments of American
wool will also be made, Notwithstanding the
disfavor with which experimental shipments
have been received.
The Yorkshire Factory Times, under date of
July "a, contains the following:
AMERICAN WOOL on THE ENGLISH MARKET
The Yankee, ever on the lookout for ANYTHING
that benefits himself, has weakness for screech-
ing out when in fair fight he is beaten. appears
that MI. Claude Meeker the a merican Consul, has
reported 10 his Government that the stuff which
the YANKEE calls American wool is not meeting
with that due appreciation which Brother Jona-
than fondly imagined It would OF course 1t is not
the material which is at fault; It is the stupid Eng
llsh wool sorter who does not know how 10 handle
1t. The fact that the stuff scarcely be called
hair, and yet may not be designated wool. and is
thus not at all suitable for the purposes OF the
Bradford trade, Is a secondary consid Grafton.
What the Yankee is annoyed at is that, notwith-
standing the manufacturer in America does not see
his way TO pay the price asked for by growers the
English buyer Is no less cute. There has been we
are told several hundred Thousand pounds Of
American wool upon the English market, which
was sent back TO the land Of the Stars and Stripes
because the prices asked could not be realized.