The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-12-02

the public mind a'notioR that prices rise
AMI fall in responss TO change in tarih
schedules. IL IL commonly believed that
ten cent reduc' ion In the duty on wheat
would resIlt in ten cent decrease in the
price III that commodity. and thar its
transfer To the free list would reduce the
price OF wheat Is cents a hushel "
il believed that free hour. free butter.
eggs. meat. bacon and OF her commodities.
now much more costly than they were
Few years ago. would mean return to
the prices of earlier days. OF at leas, "A
r"ducti ion OF prices To the lower level
supposed TO prevail IN all other lands.
The belief il distinctly erroneous. but IL
prevails and is likely To prevail until
knowledge takes the plac. of ignorance
and Of mere polit ica n sserr ion for polit ical
effect.
just now the wool and woollen schedule
ia pushed to the front on the theory that
reduct ion or removal Of the tariff would
enable u all to buy more clothes and
better clothes more blankets and better
blankets. for a tract ion Of the prices we
now hAveto pay. People accept assert ions
To this effect mainly because they know so
little about wool and woollens. A maya
zine writer asserts that the raw wool pro-
duced yearly in the Unit ed States is only
enough to make about one pound OF cloth
ing for every person in the country. There
fore tho argument appears to be that IL
We want woollen clothing for our bodies.
woolleu blankets for our beds and woollen
carpets for our floors we must go to
foreign markets for our supply OF wool
IL IL true that We do not produce enough
wool for our needs. but there In a sequel
To the story. The total world supply ~
wool ia 80 limited that il the entire clip
were distributed among those who want
II each would get probably somewhat less
than three pounds. The demand for
woollen goods and the ability TO purchase
them in this and other count rie~ have
greatly increased in the last few years. The
world supply OF wool is M greater than
it was in 1894. the earliest date for which
the figures are Immediately at hand.
In round figures this country produces
one-eighth and consumes one-quarter
of the worlds present wool supply. IL
the American demand and draft on the
foreign product. limited in quantity. are
increased by reason Of a lowering or a
removal Of the tariff on wool and woollens.
OF supply and demand and go far above
their present l.vels7 Such result is
probably inevitable. Whether they would
after little time rise 10 he present Amer
lean level is perhaps n question. but an
almost immediate result Of free wool
would be q repetition OF the experience
under the Wilson German bill The num-
b@r Of sheep in the country would de-
H.
tIonately lessened. and price would lie
affected 10y decreased wool supply. II is
asserted that in the ie-s than four years
life Of the Wilson bill. under which wool
was ON the free list, the number OF sheep
in the United States decreased II per
cent The official est imates show I5.OD
90 sheep IN 1904 and ~. so OOo in 1907
The lower IN. price IL wool the Less will
be the number 81 sheep on American
farms and ranges and the heavier will be
our demand on the limit Ell supply Of other
countries.
There seems no good reason To believe
that even free wool. IN itself would appre-
ciably affect the price of our needed and
desired articles made in whole or in part
Of wool. In this assert ion Their. il no
purpose whatever to urge rrren' .on Of
the present schedules The sole purpose
Of the comment is 70 call a't-nt ION to
certain facts and condit ions bearing on
tn. question For any Intelligent con
alteration uf the matter Some knowledge
of fundamentals IL desirable II il we'll 20
know thar the report e-d sIo. OOo pounds
of wool Clippei ia tn. United States IN
1879 gave only H. 40 .nnO pounds when
washed and SECURE! 10 bring 4 into con
dit ion for Use IN manufaC: lreS |; - well
TO know 'hP' m" ?S8. on. GJl pounds of wool
import 81 that wear shows shrinkage IN
washing and securing - IGj 90 40 rounds
On that basis he total world supply II
wool ia condition for manufacturing
purposes would be less than 500. OED ca
pounds or perhaps about three pounds
apiece for 'he Users and waarers Of woollen
art ICle-. u - well 10 know that supply
IL limited and 1t IL well ~ remember that
price will. after all. b- determined bv
the relation 81 supply To demand Tn.
immediate aud the permanent results -
downward revision of the wnollen sChed-
Ul~- ~ another matter. bu' il - we'll not
80 expect too much from reduction ar
removal of rhe tirif On rlS wool