, 1921-06-11
TIL WOOL INDUSTRY.

An account Of industrial conditions in New Eng
land given by the First National bank of Boston con-
tains a discussion of the wool situation. This state
mcnt is made: The probable effect Of the emergency
tariff appears to have been fairly well discounted and
The information is also given that heavy foreign buy
ing has been done for American account and there
have been heavy importaticns Of clothing woods
This statement emphasizes the injury done to the
American wool industry by the Democratic free trade
policy. 1t is estimated that there is now on hand in
the wooden stocks of the world q quantity amounting
there is a prospect Of the re-enactment Of a protect
i've tariff law wool users make large importations Of
foreign woods which they can buy for less than the
cost of production in the United States.
The Democratic party enacted the Wilson-Under-
wood law of 1918 over the protest OF the Republican
party. Over the protest, also. of the American wool
growers. During the war, which acted rs an embargo
on importations and created an abnormal market for
wool products the American producer felt no injury
because of the lack Of protection on his product, But
since the armistice was signed and the enormous de-
mand for wool for war purposes ended, all of the
cheap wool producing countries have been shipping
their surplus TO the United States thus not only cut
ting the price the American producer could receive
but depriving him even of the opportunity to sell his
wool at any price
The Democratic party not only deprived the Amer
lean producer of the advantage of an import tax on
wool but when the war -Ss over and it was apparent
that there would be a flood of importations, the ma
jority Of the Democrats in congress opposed the emer-
gency tariff bill and President Wilson vetoed that
measure, thus postponing the time when protection
should be restored.
- - btheAeAg AotAeNcc hla tAt SulGA IlIh-
law is not a complete and scientific measure. 1t does
not attempt to establish the system of protection
necessary for the upbuilding Of all American indus
try. 1t is merely an attempt TO secure at an carly
date protection for that Observation-Disclosures
was the first to- suffer the reaction from war condi-
tions and which will probably be found to suffer the
most severely.
The Boston report contains the information that:
Thus far very little wool has been bought in the west
The buying has been done largely in Australia and
South America while the western American wool
yrower, or his banker, holds the American product
IN q warehouse and creditors are consequently unable
. collect the obligations due them from the grower
Of American wool.
All of this makes for a depiorable situation. What
Is true of the wool industry is true, in varying degrees.
OF other American industries upon which the pros
psrity of the United States depends. The facts are
ftated not for the purpose of painting an unpleasant
picture, but in order to impress upon the minds of the
people OF the country the important truth that the
situation is due almost ensirely to the folly Of the
Democratic party in placing the United States on
practically a free trade basis, SO that American money
is sent abroad for the purchase of foreign commodi-
ties at less than cost of production at home.
1t will be a long time before the American people
viii forget the eight weary years of Democratic rule.
Certainly the wool growers who are going through the
present crisis will not soon forget.