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STATISTICS ON WOOL.

Extract from Speech of Hon. Peter J. Somers, of Wisconsin, in the H. of R., August 13, 1894.

SAVING IN THE WOOL AND WOOLEN SCHEDULE.

By the adoption of this bill you save to the people of this country more than $141,000,000, as is shown by the statement I herewith present, made by the deputy appraiser of the port of New York:

A statement showing the amount saved to the consumer by the adoption of the Senate bill in place of the McKinley act, Schedule K, wool and woolens, prepared by J. Schoenhof, deputy appraiser of the port of New York.

English cloth made in Leeds, imported into the port of New York, wool and cotton warp, 60 inches wide, weighing 111⁄2 ounces per yard: Cost per yard 1s 3d less 5 and 5 per cent discount, 27 cents net per yard:

McKinley duty (39)1⁄2 cents per pound -- 40 per cent per yard)
Senate duty (40 per cent per yard)

Saved to consumer.......................

Cents.

39.80

10.80

29.00

The samples No. 1 to No. 6 attached to the respective statements represent actual importations made in the current year. The prices are the actual invoice prices, as passed by the appraiser's department in New York.

English cloth, wool and cotton warp, imported into the port of New York, 54 inches wide, weight 13 ounces per yard: Cost per yard is 2%1⁄2d., less 7 per cent, 27 cents net per yard:

Cents.

McKinley duty (381⁄2 cents per pound - 40 per cent per yard)....

42.00

Senate duty (40 per cent per yard) .

10.40

Saved to consumer

31.60

English overcoatings, wool and cotton warp, i'uported into the port of New York, 50 inches wide, weight 26 ounces per yard: Price 1s. 9d. net per yard:

Cents.

McKinley duty (33 cents per pound - 40 per cent per yard)..
Senate duty (40 per cent per yard)....

70.45

16 80

..........

Saved to consumer...........

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53.65

Worsted coating, Bradford, England, imported into the port of New York, 57 inches wide, weight 20 ounces: Cost 2s. 9d. per yard, less 7 per cent., 62 cents per yard:

Cents.

McKinley duty (44 cents per pound - 50 per cent per yard)..........
Senate duty (50 per cent) per yard.......

86

31

Saved to consumer......................

55

French cashmere, imported into the port of New York, 45 inches wide: Cost 0.95 francs per meter net, 18 cents per yard:

Cents.

McKinley duty (12 cents per square yard -- 50 per cent), per yard......
Senate duty (50 per cent), per yard.......

.24

.9

Saved to consumer........

.15

French dress goods, challies, all wool, imported into the port of New York, 30 inches wide, weight 2 ounces per yard: Cost per yard, 20 cents net:

Cents.

McKinley duty (12 cents per square yard -- 50 per cent) per yard..........
Senate duty (50 per cent), per yard.......

.20

.10

Saved to consumer..

.10

Balance sheet showing the amount saved to the consumer by the adoption of the Senate bill in place of the McKinley act.

1892-'93. Imports of manufactures of wool.

Duties

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$36,993,000

36,448,000

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Carpets..

Value of domestic manufactures.......

47,770,000

310,782,000

$84,223,000

Cost of wool manufactures to consumers...

Add 33% per cent to cover wholesale and retail profits...

Cost of wool manufactures under Senate bill on same amounts:
Importations......

128,074,000

512,297,000

$36,993,000

Duty, 45 per cent.

16,665,000

53,658,000

Value of domestic manufactures, $310,000,000, re-
duced from an average of 100 per cent duty to 45
per cent rate as a result of free wool........

224,525,000

278,183,000

Add 33% per cent as profits

92,728,000

870,911,000

Amount saved to consumers on the woolen schedule only
under Senate bill.

141,386,000

WOOL PRICES UNDER FREE WOOL.

The wool market just now affords a good study for the political wool growers of the country. It will pay them to study facts a while, and to forget their theories and their calamity cries.

In 1890 McKinley listened to the pleas of Delano, Harpster, and Lawrence and granted them greatly increased duties on wools in order to raise prices. But prices never declined so much and so rapidly as during the four years of McKinleyism. The decline has been almost steady, except that it was checked for a few months, after the election of 1892, and that it was changed into an advance during the last two months. The decline has been from 35 to 60 per cent. High duties on wools, then, have not caused higher prices as these wool prophets predicted. This is mi take number one.

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Nothing was more certain, in the opinion of some of the wool growers, than that free wool would greatly reduce prices of domestic wools and ruin the wool and sheep producing industries. For the first time since 1816, all wools are now free of duty. What now are the facts up to date?

All wools became free on August 28th. We quote the following prices of foreign and domestic wools from the American Wool and Cotton Reporter:

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This is indeed a strange phenomenon for the consideration of National Wool Growers' Associations. Prices of foreign have declined about 40 per cent, while prices of domestic wools have advanced about 10 per cent during the last two months,

The Reporter of August 30th says that the chief feature of the Boston wool market has been "the purchase of a million and a half pounds of Montana by a manufacturer," and concludes 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 specially firm. The feeling in general is hopeful." Under New York, the Reporter says, "despite the uncertainty surrounding the markets there is no quotable change in prices. There are a good many arguments favoring a steadiness in prices of domestic for sɔme time to come."

Prices of domestic wools, then, have not tumbled with the adoption of free wool, as was predicted by the protection prophets. This is mistake number two. It might be supposed that after such monstrous failures, Delano, Lawrence, and Harpster would withdraw into their shells and never peep again on the wool question. This is, however, unlikely. The real question now is, will the real wool growers ever again believe these false prophets?

FREE COAL, IRON, WIRE, SUGAR.

Bills as Passed by House-Amended in Senate-Test Vote on Sugar.

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"A bill (H. R. 7968) to place upon the free list bituminous coal, shale, slack, and co ke

"Be it enacted, etc., That from and after the passage of this act the following articles, when imported into the United States, shall be admitted free of import duties: Bituminous coal, shale, coal slack, or culm, and coke."

Yeas, 162; nays, 104.

Action United States Senate, August 20, 1894.

The SECRETARY. The committee report to add at the end of the bill the following proviso:

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Provided, That upon bituminous coal and shale and coal slack or culm, and coke, imported from any country, whether independent or a dependenty which imposes a duty upon bituminous coal, shale, coal slack or culm, or coke, exported from the United States, there shall be levied and collected the rate of duty existing prior to the passage of this act.

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Free Iron.

Action of House of Representatives, August 13, 1894:

The SPEAKER. The bill will be read.

The Clerk read as follows:

"A bill (H. R. 7969) to place upon the free list all ores of iron. "Be it enacted, etc., That from and after the passage of this act the following articles, when imported into the United States, shall be admitted free of import duties:

"Iron ore, including manganiferous iron ore; also th dross or residuum from burnt pyrites, and sulphur ore, as pyrites or sulphuret of iron in its natural state."

Yeas, 172; nays, 102.

Action United States Senate, August 20:

Mr. HARRIS. I am directed by the Committee on Finance, to whom was referred the bill (H. R. 7969) to place upon the free list all ores of iron, to report it witho t amendment.

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