Free Wool And Wool Prices

These are times when the real wool grower should keep his eagle eye on the wool market instead of the "political wool grower" and his calamity cry. Let him forget theories for a time, and give his attention to facts. The McKinley bill went into operation in 1890, and largely increased duties on wool for the purpose of raising prices. The schedules were arranged in accordance with the wishes of the National Wool Growers' association. Political speakers assured the wool grower that he would receive enhanced prices for his wool - some going so far as to assure the farmer that he would receive forty and fifty cents a pound. What was the fact ? Prices declined, never more rapidly than during the four years the McKinley act was in forcé. The decline was steady, except for a few months after the election of 1892, and during the last month or two, when there has been an advance. Nor can this decline be honestly charged to Cleveland's election, for as great a decline occurred from the enactment of the McKinley law to the election of 1892 as has occurred since. "Fear of free wool" does not explain the decline that occurred at once after the passage of the law. The decline during the life of the McKinley act was from 35 to 5o per cent. A high tarift on wool did not raise or keep up prices as republican prophets predicted. Let that error be noted. These same discredited prophets were sure free wool would greatly reduce the prices of the domestic clip and meant practical outlawry for the poor American sheep and ruin to the industry. Duties were taken off, and for the first time since 1816 all wools are free. What has followed? The law making wool free went into effect Aug. 28th, and for weeks before free wool had been assured. The following prices of domestic and foreign wools are quoted from the American Wool and Cotton Reporter: DOMESTÍC, G rades. Prices, 189Í. Jul.5. Aug. 30 Cents. Cents. O., Pa. & W. Va. xx and above,-20 to 20 to 21 O., Pa. & W. Va.No. 1 19 to 20 21 to23 Mlch., Wla. &N. Y.,No. 1 18 to 19 19to21 California No. spring free 12 tol3 13 to 16 Texas fine 12 mos. choioe 11 tol2 12tol4 Idahoflne 9tolO 10tol2 Montana flne med. ohoice 11 to 12 13tol5 FOKEIGN. Anstralian, combing choiee 30to33 19to22 Australian, combing good 29 to30 18 tol9 Augtralian, elothing .30 to32 19to21 Cape and Natal 25 to26 Uto 15 Month-ideo 25to27 Htolo English coarse 3óto37 23to25 From the above table it will be seen that prices of domestic wools, during the last two months, haveincreased about to per cent., while the prices of foreign wools have declined about 40 percent. Let wool growers note that fact also. According to the Reporter of Aug. 30th the chief feature of the Boston wool market was "the purchase of a Million and a half pounds of Montana by a manufacturer," and conclades that "it has been, on the whole, a fair week for trade, and wools in general have been sold at as high a price as at any time during the month, medium wools are especially firm. The feeling in general is hopeful." Under New York, the Reporter says: "'Despite the uneertainty surrounding the markets there is no quotable change in prices. There are a good niany arguments favoring asteadiness in prices of domestic for some time to come." The prophets of evil have been again discredited, therefore. There has been no slump in wool prices, as they predicted, and there are no indications that there will be. It would be well for all concerned, now, ifjthese false prophets would confess the errors of their ways and go out of the business. At least no one should be deceived by their prophecies in future.