Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1902-01-04
WOOL AND TARIFF.
NO CHANGE IN DUTY SCHED-
ULES is DESIRABLE.
Unstable Conditions Are Injurious
Alike to the Manufacturers and to
the American Sheep and Wool Grow
ing Interests.

the years domestic wool clip by Mr.. s.
n. ID. North of the National Associa-
ton Of Wool Manufacturers. Reel
procity schemes and methods for the
benefit of one industry at the expense
OF others have thrown upon Congress
an avalanche of literature, and some Of
the recommendations indicate that
selfish constituents are willing to sac
r1hce the sheep raisers if they can
thereby secure personal profit. That
no change is desirable in the tariff on
wool will appear obvious after little
study Of experiences in this industry
under the last three revenue bills. Dur
ing the wise operations of the McKfn-
ley law domestic ranches increased
and the home production of wool rose
to 34S,53S, 1873 pounds in 1893, while i'm
ports were but So, 152, $50 pounds. I'm
mediately after the enactment of the
Wilson bill foreign wool was thrown
upon this market in such abundance
that imports rose to $50, S52, O26 pounds
IN one year, an increase of 536 per cent
over the receipts from abroad under
the protective tariff, and exceeding
even the high record Of domestic yield.
Meanwhile the home grower found no
profit in competing with Australian
and other cheaply raised wool, so that
sheep were sold for mutton, and invest
ors in the industry lost large sums Of
money. The annual yield in the Unit
ed States steadily decreased until only
259, 153,251 pounds were clipped in
1897. With the resumption OF a rea-
sonable barrier against outside pro
ducers there came a renewal Of DO
nestle interest in this crop, and each
year brought larger total, until the
report just issued shows clip of 3O2,-
502,32S pounds.
The question Of prices has been the
most remarkable feature Of the situa-
ton, although less bewildering when
studied in connection with the records
of imports and general business condi-
tons According to the circular of
Coates Brothers, one hundred grades
of domestic wool averaged 22.78 cents
a pound on May 1, 1892, when the
country was prosperous under a sound
tariff law and wooden mills were ac-
lively engaged. By Sept. 1, 1896, the
full effect of free trade was being felt,
and the same grades of wool averaged
1922 cents a pound. This fall Of 4G
per cent in price was not only due to
the competition of outside production.
but also to the disastrous condition of
all industries and business under low
tariffs, which rendered the wage earn
ers unable to purchase freely of warm
clothing. With the reversal of tariff
policy and restoration of a duty on
wool there came prompt recovery in
this business, together with such conf
dence that the speculative influence be-
came prominent. Despite large stocks
there was imitation of prices, and in
December, 1899, the average price was
2K70 cents, nearly two cents higher
than in 1892 That the advance was
obtained too rapidly has since appear
ed in the reaction to 17.O6 cents, July
1, 1901. Numerous and heavy failures
were precipitated by these cratic fuc-
dealers and manufacturers. Misfor-
tunes must of necessity follow unsta-
ole conditions, and these Irregularities
are directly traceable to tinkering with
the tariff.
1t is not difficult to understand why
the recovery in all departments Of this
industry has been slow, and only with
in the last few months have distinctly
satisfactory conditions prevailed. In
addition to the enormous quantity of
wooden goods of all kinds that were
accumulated by importers, the re-
ceipts Of raw wool from abGoad during
the three years ending July 1, 1897,
amounted to 87,797, 400 pounds. No
amount Of prosperity could absorb,
this enormous stock in short time,
and it was a short-sighted policy that
permitted the violent advance of
prices. which was naturally followed
by severe reaction. Even after the
flood of cheap foreign wool had sub
sided. home producers and holders of
domestic wool made the mistake of in
0aJlQ2 oil OuL Va DIOpOE-
ton to the gains made in prices for
the finished products. Consumptive
demand, it is true, was greatly in
creased by the healthy tone Of all
business, but the rise ia price of wool
en- goods was slow. Manufacturers
were Compelled to resort to the usual
method under the circumstances,
which was reduction in quality.
Shoddy and cheap substitutes were
used, while adulteration with cotton
was general. Ultimately the l&ck of
orders produced a salutary effect ON
the wool market, and prices were
brought dswn to a point where the
mills could do business at profit.
Within a very short time the situation
has developed signs of an encouraging
nature, and slight recovery in prices
Is recorded Manufacturers have or
ders assuring full occupation Of mills
until well into next year, and within a
few weeks their purchases of raw ma