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The Wool Market

The Wool Market image
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The following circular frora an eastern commission flrm, gives the wool market proepects fr 1887 : The wool market is unsettled and irregular. No two dealers offer their wool at the Siimo price. The more faint-hearted an; aliirmed al the prospect of being undersold by the new clip, which will poon be In the'inarket. The dull state of the inauufaetureing business, owing to the light demaad for goods, leave but little in ducement for con?innfrs to buy wool. The badly arranged turift', by which nianufactured goods pay relatively less duty tliiin raw material, offers a premium for the Importation orforeijrn goods. Cheap foreijiii roods are pouring i n to this country in MOnBMM qtiantities at lower tiguiesthanthc 811111e goods can be mude in America. VVhile scouiing Botany wool in the unmauufactured state, pays h specilio duty of 30c. per pound, the goodl madfl nf this saine wool pay a epecifie duty ofonly 18 c. per pound. To meet this competltlon ;ind uuiier.sell the forlegn article, the American manuficlurer must reduce the cost of proddOtlon. Tliere are two ways to aceomplish tliis: first, lower wajres; secnnd, by cheaper wool. Owlng to the perfect labor orgamzations nothinj; can be hoped for in the way of lower wa;es. They have been ad vaneed rather thau lowered. Thus, as labor cuniiot be ciieipened, the only way to reduce the cost of e;ood8 is to take it out of the wool, and, as wool jrrowers are not organized, their product is the most easily aasailed, and in consequence we see it falling in prloe This will continue UB til thestaple is u cheap that manufacture can bold the markel a;aiiist foreign eompetltlon, Low prices for wool will probably rule uutil the ;rovers can compel congres to ralge the duties 011 all kinds of foreign good to Ht least as high relative figures as the pre-ent duty on foreign wools. The boom in wool in Europe last year had 110 further effect 011 values in America than to make a speen lative rise, Imi when speculators wnnted to unload they (bond that they could only sell by taking less thau cost for the wool. It looks now as though wool would rule at lower figures than last year. Probably the prices of July. 1885, will be the basis for the year's operatlons.


Ann Arbor Courier
Old News