Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1899-12-20
SURE SIGN OF PROSPERITY.
Great Rise in Wool Values a Conspicuous
Vindication of the Protective Tariff.

both have felt the helpful impulse d
customs duties to such an extent tina,
the trade is in a condition of prosperity
unprecedented during twenty years.
Not since 1879, say the brokers anc
dealers in wool, has there been so Pile.
nomenal a rise in prices. The scope Of
this rise in values may be summarized
in the statement made yesterday by s
prominent firm of dealers in wool, tina
in 1895 and 1896 the average price of the
raw material paid to the American
farmer was from 10 to II cents a pound
To-day the price is in the neighbor-
hood Of q cents a pound.
This phenomenal advance in the mar
ket value Of the clip has opened the
eyes Of men in the wooden business with
amazement. They understood it's mean
ing, but they did not expect it's results
so soon.
A member of one of the most promi-
hen firms in the building where the
wool exchange made its effort to trans
fer to New York the activity in thai
trade from Boston, Philadelphia and
Charleston, said yesterday:
1.-THE prices for wool are astounding
l think that the reason for this rise ir
values of this staple is an indication Of
the prosperity of the country. 1t is a
result of the operation of the old law OF
supply and demand. You cannot get
n v-ou fron, that clam rt in thn m a rkpt
There were, Of course, large importa-
tons of wool when the article was duty
free. There followed, after the enact
ment Of the Dingley tariff, an enorm-
Gus output Of manufactured goods
The shelves Of every department store
and every smaller retail shop in the
country have been laden with these
goods. They have been sold, and most
of them have been sold at a fair profit.
What is the result? There Is an i'm
mediate pressure upon the manufactur.
ers. There is an immediate demand for
the raw material. Prices of wool rise,
as a matter of coure. 1t is a natural
response to a law of trade. But every
one in the business recognizes that this
rise in price is as solid as it is phenom-
email"
William L. Strong, former mayor, cor
roborated this view. He said the de-
mand for wool was n Of the most
wholesome evidences of prosperity in
any country. He declined to express
any opinion in detail as to the wool
market, but he said:
"The time has come when, in the mos.
general sense, the prosperity predicted
before the enactment of the present tar
if law has arrived in fact. The pros
perity began to come three years ago.
but it is really here now. That is why
the retail clothing stores are depleted
of their stocks; that is why the manu-
facturers are looking for more raw ma
1T Is not necessary to go beyond the
of present conditions"
One of the brokers in the Wool Ex-
chance building said:
Il look beyond the tariff. That has
had it's effect, which is perhaps empha-
just now. But the truth is that
the duties upon many other kinds Of
raw materials have had their influence
upon the prices of wool. There are to BIZ
Of prosperity. There are to be
counted the greater ability Of the aver
age citizen to buy; there are to be con-.
sidered the larger demand for labor and
It's consequent earnings; there must be
added to these the wider appreciation
Of our people, especially in the north
and west, of the value Of manufactured
goods as a material for clothing.
Then, it is another result of this
condition that less shoddy is used in the
process of manufacture. More and more
wool enters into the finished product.
This is one of the results of a protective
duty on wool that cannot be ignored"
A statement that will be welcome to
the general public Is that this soar in
the price Of wool will not affect the
price of clothing. At least, such was the
repeatedly made about the
wool exchange building yesterday. Sew
eral brokers said that a rise in the price
of raw wool as great as 40 per cent
would not increase ~appreciably the
price of such a suit Of clothes as Ia
worm by the average business man, al
it might be made the excuse for
increase in prices in some fashion
able tailors' shops. 1t Is the labor more
the material that determines the
cost of an ordinary suit Of clothes.
The effect Of the higher prices of wool
upon the annual American clip Is ex-
pected to be tremendous. The Austria
liam clip has been diminished by drouth
and disease. This has had it's effect up
the worlds market, but it is only Ii
factor in the case. The chief ele-
ment Is the increase in consumption.
The total annual consumption Of wool
in the United States alone was a year
ago more than 1921, 0OO,0 0 pounds. This
was divided between the domestic clip,
the imports Of foreign wool and the
wool contained in imported wooden
goods.
The value of this yearly consumption
in the United States was estimated in
1898 as 1852, 0O0, 900.
The people Of the United States to-
day are consuming more wooden goods
than any other civilized nation on the
globe. Fifty years ago this country,
with a population Of II, 069, 453, was u.s.
ing annually Al ,615, 1926 pounds Of wool Of
all classes.
To-day it's population Of more than
a. 900, 900 is using COL, SO6, 202 pounds Of
foreign and domestic wool, not includ-
ing wool contained in imported goods.
In other words, the increase in popu-
lation from 1910 to 1897 was o~utclassed
far by the corresponding consumption
Of wool, which increased 1,21S.02 per
cent.