New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-23
MR.. WILSON'S ERRORS.

In another long article in The Herald" on
| wool duties Mr. William L. Wilson takes the
| number of sheep January l. 1892, and the guam
tity Of wool shorn in the following spring as
the maximum attained under the Mckinley tar
if. though he subsequently seems 10 evince a
knowledge of the fact that the number of sheep
and the product increased materially mp to the
spring of 1898. He takes the quantities of the
Agricultural Department, which are so thor
oughly discreded that even the Department it.
self rarely takes the trouble TO print them in
its guesses of the years production, and yet he
| is apparently aware OF the much larger and more
Trustworthy figures generally accepted by the
trade prepared for some years by Mr.. Lynch,
then by Mr.. Trutt. and mora recently by the
National Association Of Manufacturers. But his
strangest assertion is that the consumption in
manufacture in 1896 was the whole domestic
production and the whole quantity imported in
that year. Showing an entire consumption by
our factories of 40S 100000 pounds of wool, ex-
Guiding carpet wool" As nearly 104,000,0OO
pounds Of carpet wool was also imported this
reasoning would make the consumption by man
ufacture 512,OOO,o0o pounds last year
Yet it is well known that large share of
the mills were closed during the greater part OF
7.
largely increased in 1896 The most trustworthy
record IN the judgment OF the trade that of The
Boston Commercial Bulletin puts the stock
of domestic wool unsold in the United States
at 103. G34 800 pounds January l. 1896 and 49,
S,OS0 pounds January l. 1897: but this does
not include the enormously increased stocks
held by manufacturers, who began buying
and lifting the price before the election Nor
wool which, since the removal of the duty
rendered warehouse returns of no use, have been
practically unknown. How far from accurate
Mr. Wilson's statement is no man can say with
certainty. but Mr.. Wilson himself can say with
certainty that it is erroneous if he has read any
record of stocks on hand.
Ii is probable that the actual cOnsumT ton in
the fiscal year ending June 80. 1892. was much
the largest ever known, according to the best
available records about 509,359, 1913 pounds. Fy
December Of that year some mills had closed.
81 others were reducing force because of d.
minishing orders. In the spring of 1903 the
closing became more general md the apparent
consumption in the first half OF that year was
about 1853 900 900 pounds, or 81 per cent Of the
consumption in previous half-years. The panic
stopped operations during much of the latter
Idll, ana lHc rec )TU flONS IlNI U1lSO0 SHOCKS OF
domestic wool increased 100000 pounds in
1885, but manufacturers stocks probably in
creased also because Of the course of prices. In
the fiscal year ending June so 1894 the apparent
consumption was only ga. 4S1, 003 pounds. less
any increase IN stocks owned by mills or re-
tanned by farmers. Since that time IL is well
known that the full capacity Of mills has at no
time been employed, and n large share Of tina,
capacity has not been continuously employed
during any year. With the next year came an
enormous increase of imports with free wool
GO, 126,34S pounds, followed by 234 G06l76 in
The fiscal year 1896 and about 10000 900 in
eight months Of the current year ending with
February, besides 29,120,934 pounds at Boston
alone in March, and probably even more Iii
April. Mr.. Wilson reckons that these vast yuan.
titles OF foreign WOOL besides all the domestic
production were consumed down to tho begin
ming Of this year If il We're necessary to do
so, The Tribune would strongly advise every
holder of wool and every dealer TO reject this
calculation.