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Wool Lower Than Ever

Wool Lower Than Ever image
Parent Issue
Day
27
Month
November
Year
1891
Copyright
Public Domain
OCR Text

Wool was easier in the Boston markel last week. The Mest report says "Good Michigan X fleece sold at 26 to 26 cents, though 27 cents is still asked by some dealers, and sales at that price were made." At 26 cents the lowest price for the sesaon was reached. The triumph of protection in Ohio has not boomed the prioe. Indeed, it looks as if what John Sbevman said in the senate in 1883, as to the effect of protecting vfooI, is traer than ever. February 7, of that year, when the tariff was undcr discussion, lie said: "In the table whicli I liave now before me it is ahown that the price of wool in 1867 was 51 cents a pound; in 1870, 46 cents a pound; in 1S76, 43 cents a pound ; in 1880- an abnormal year- 48 cents a pound. Butto-day I am told that these wools are sold in Ohio at from 36 to 40 cents a pound. tio the result of protecting Ou. wool grovxr has been, as il hus been in all industries, to gradually reduce the price of domestic wools." We leave this matter for our protectionist Meada to settle with their great Ohio champion, whose triumph at the recent election is hailed as a benefit to our growers. It will be remernbered that in 1867 the nighestwool tariff ever known was enacted, and immediately thereafter the price commenced dpclining. In 1890 th9 McKinleyites again increased the tariff and the price now is down to the lowest noten, Michigan X having sold at 26i cents a pound in Boston the last week. It looks very much as if those who undertook to scalp others had got the worst end of the