The Cordova daily times., 1921-01-10

was put into effect in this country which forbade it being used for any except war purposes. The result of this worldwide stimulation of wool production as the tremendous accumu- lation of stocks. Argentine and South Africa because of the scarcity of shipping during the war, still have on hands q tremendous amount of clip which has been accommodating since 1916.
 In Australia there are several mil lion bales of wool which the British government owns and which it is un- able to dispose of. In order to carry this amount over so as to keep it out of the market and provide an outlet for the clip just coming in, there has been organized wool holding corpor- ation backed by the Australian gov ernment, with a capital of practically $1OO,0OO,0OO. South Africa is trying to get rid of it's tremendous surnIes stock by offering it to Germany and taking as payment $500OO,0O0 worth of "enemy property seized during the war Argentine, in an extraordinary effort to reduce its surplus stock, has removed it's export tax on wool. This has proven more or less successful, as Argentine wool is now being sold in America at cents a pound, &C., cording to the figures presented by the National Wool Growers Associa- tion before the United States senate committee.
 This immediately preciptates very serious problem for the American wool and sheep industry which rep resents an investment of approximate ly $750,000, ,000. According to the data furnished by the National Wool Crow CTS Association, there are 96,00O, ,OOOI pounds of wool in storage in the Unit ed States and 95 per cent of this years clip, in the United States re- mains unsold. With Argentine wool selling in this country for cents a pound, it is stated that bankruptcv faces the American sheep grower. as It costs him cents a pound to market his wool after he has it clipped. This would leave him only cents a pound out of which to pay the entire cost of raising his sheep, shearing them and other necessary costs in maintaining his ranch, without allowing him any, thing for interest on his investment or any profit It is stated that unless some means is provided of financing the sheep grower until the worlds wool supply is reduced to noramv nro- portions, it will mean practically the extinction of sheep raising industry Ill the United States, as the sheep ralSers will be compelled to sell their tIocks for slaughter.
 If this extremity is forced upon the western sheep growers, it means the W1plng out of the shep growing in- dustry and with it the production in
 
 the United States of any wool Tbis would in turn make our textile indus. try dependent upon foreign countries 10 rthelr raw materials, a condition which they have never had to meet ana the possibilities of which are not pleasant to contemplate.
 The extinction of an indnstrv u,bio,, Is based upon the breeding and rais. ing or animals is a far more serious proposition than the extinction of O or business enterprise undeslrable and disastrous as either oI these might be- This is true be. cause 10 replace an industry which ra- qulres the breeding and raising of necessitates a period of sev- erai years, even under the most favor- dple circumstances. Furtbermoro ~, perlence has shown that where tbosa "ho nave followed such an industrv are orlVen out of it for any reason 'iiey enter into some other form of pioouctlon and very seldom can he in- uuced to assist in the restoration of the the industry from which tbev were driven.
 It IS no wonder, then, that the west | ern farmer, as well as the western ouslness and financial interests. are seriously concerned regarding the crisis in the wool and sheep indus try Of the United States.