THE Wairarapa Age MORNING DAILY. THURSDAY, JULY 20, 1911. AMERICAN WOOL MARKET.

Wairarapa Age, Volume XXXII, Issue 10291, 20 July 1911, Page 4

THE Wairarapa Age MORNING DAILY. THURSDAY, JULY 20, 1911. AMERICAN WOOL MARKET.

Sheep-farmers in New Zealand will be interested to know that there Is a possibility of easier access being given to the American markets for wool at an early date. The Democrats m the House of Representatives have proposed a new schedule of wool duties for, the United States. Under this proposal there will be a marked reduction in the duty on wool. The rates on raw wool ore fixed at 20 per cent, ad valorem by the 'Bill. The present duties are not on an ad valorem basis, but calculated on that basis for the year 1910 they average 44.31 per cent. The reduction in the ra/w "wool duties is, therefore, more thani 50 peat cent. As to manufacturers of wool, it is asserted by the sponsors for 4he Bill tint the average ad valorem rate on ifte estimated imports for 1912 would

be 42.55 per cent., as compared with 90.10 per ocn/t. on the imports for 1910 under the existing duties. But it is by no means certain the proposed reductions will be adopted by Congress. The Republican Party, which is in a majority in the -Senate, is opposed.to the change. Moreover, a decided split in the ranks of the Democrats has developed concerning ifhe measure. The wool-growers of the United States are especially con> oemed at the proposal to cut the raw wool duties in half. S. W. McClure, secretary of the National Wool-growers' Association, has been in Washington investigating the possibility of rthe reduction, and he writes to the Oregon Wool-growers' Association as follows: "I have gone over the .situation in. Washington very carefully, and feel safe in assuring our wool-growers that there will be no ! legislation affecting the tariff passed at the present session of Congress. The Bill introduced by tile Democrats is looked upon as a joke, for it represents no theory of political economics, as it affects neither freetrade revenue, nor protection. Miie should not affect the wool market, for it will never be-' come a law. Please advise your woolgrowers not to .sacrifice itheir clip, for there is every reason to believe better prices will be received later in the season." The breach an the Democratic ranks was, occasioned by William Jennings Bryan, the oft-de- [ feated candidate for President, crit- , icising the Democratic leaders to. I the House of Representatives for not | proposing (the abolition of the duties on raw wool. According to Bryan, who is a freetrader, the argument I that 20 per cent, ad valorem on I raw .wool is needed as a means of I raising revenue is a mere subterfuge I "employed ibecause those who employ it are ashamed to say they favour protection.." The 20 per cent. duty he referred to as ' 'favouritism to a few sheep raisers at the expense of all who wear woollen clothing." At the other extreme of the argument stand the Republican .members of Congress!. Those on the Ways and Means Committee, in. a minority report to the House of | 'Representatives, refer to the proposed reduction, as "this cold-blooded measure," adding: "If it could be- , come a law it would .slaughter sheep J as in 1894, and close the mills much | more universally."