THE WOOL TRADE.

Waikato Times, Volume XXI, Issue 1771, 10 November 1883, Page 4

THE WOOL TRADE.

For a'oonsidevuhlo tlmo p-iat gravu fonia have been entertained, if not pub. luly uxpios-crl, tliut tlio price of wool must inevitably decline. In tlio Australion Colonies just prior to the opening wool siik'S of tie season the subject wae *ciy freely di>enssed, some ahu mists go nijr to the exMctne length of contending | th.it tin 1 Knglish markets in the nonr future v mJI be glitted with American wool. 'In sappoit ot this position one wrtttr points out the tacts that while in ten yo.iih the Ainciican popul.ition baa meieascd fioin 38,000,000 to «~)0,000.000 the 1 impoitifcioiib of wool into that country ii.tv •• Mil n tiom ] J'j,-_M() 1 4fHJib in !b7'2 to .nV.SGMMIb in 1882 Again the Amen(.•.in home pioiluctioii ot wool inoren.sed I,oin 100.10-'.&STlbm 1870 to 200,000,000 II) in 18K0, so I hat arguing fiom theso iiguics, and without regard to sunoundnig circumstances, it would appear pifIkjljlc that Amciica in a few years will become* an c\poitcr of wool or woollen fabiius. But it the conditions which havi* contributed largely to this rein.v kable mei ease bo critically consider- ! eil we shall no longer fuel astonished at its magnitude, or fear disastrous competition in loieign wool maikets from America. Specially fostered by an extreme protective taiift, it would rather be a matter of wonderment that the wool growing mdd lib try of the United States has not attained ,i much greater magnitude, were it not fur the knowledge that it is eireumsenbed and controlled by natural and adveise circumstances. In many of the (States the winteis are so long and severe that to keep shoe]) is simply impossible, and must continue to be »o until such time .is it will pay to piovide artificial food and shelter for them during seven out of the twthe months. In others chm.ite and soil make <otton-gi owing moie remunerative, .itid in point of fact, except m California and some of the New Kngland States, sheep fanning can not be followed with piotit. We are supposed to yield the palm to Ameiicans tor their astuteness, their quick perception and i dullness iv money-making, but if .sheep fanning in the States is such an easy matter, and capable ot such expansion as we sue asked to believe, how can it be explained that, with wool maintained it abnormally high rates by the imposition of a heavy duty on the law and manufactured materials the United States continue to be Luge importers of both ? It may be that in the course of time, and assuming that the present heavy duties he maintained, the Americans may succeed in piodneing sulHcient wool tor their own wants, but the penod is i emote indeed when it will be possible tor them to export the artn 10. .An industry which has been fostered and propped up us thoira hns been, would rapidly suoaninb to the open blast ot flee eompetion ; and the Ameiicans themselves admit the fact by their legislation. A wnter on the subject whoso lcmaiks have hud eater Weight with the Anstialinn journals than thur inuita entitle tlum to, asset ts — "In twuitv ye.iic or less Amend v\ill have out of her abundance a huge suiplun toi export.'" Let u-* considei the oi deals which must be pas-std thiougb butoie this can be possible. The amipetition tiom within must gradually harden, and this, will necessnidy lower prices in the home maikets of the Amirican piodncei -the high tarilt notwithstanding Induction will thus be hampered i mil kept within lio'iids, and the piogrets miist be slow and the time remote ue Amu icau sheep farming will have so expanded even under protection as to supply the wants ot a lapully increasing population. Tlio contingency of American txpoits ot wool is altogether so remote that the wonder is the subject can have been gravely discussed. If, as some alarmists assert, we are on the eve of a permanent decline of 25 per cent, in the value of wools, all thu worse for the vising American industry. Our wools wil' bo placed on the States' uiaikets, by so much cheaper, to the disadvantage of then produccis • and it, ultimately, Ameiieau wool is to be placed on Kinopcan in.ii kets it uiu-it lie produced at between (»0 and 70 pci cent. less than its glow th now costs. L'iob.i!ily Ainuienn puichascs of wool in foieign maikets will gradually become less, and ultimately lte lcstiictcd to the hi-ei soiU which Lluu manufaetiuei^ cannot piocuic at home or do without, but eouemiently theie w ill be the wants of the inu easing Kmopcan population to be supplied, and new outlets wilt be tound in otlnu countiies. China, Japan, and ev on India to a biuall extent, will yetalloid maikets foi wool or woollen maijiitactiuo.s. Years ago an cutctpifcing Victoiitin wool bioker drew public .ittcntion to the dema.id in China for cLit.iin descriptions ot woollen uoods and yams. A coiK'spondcncc on the subject with home Enn/ish mei chants in China followed, .and by them it was considered quite feasible to open un a trade, although it was pointed out that pi ogress at first would probably he slow because of the coiiseivative piejudices of the Chinese. It we nny judge from the habits and talents of the lace as it has been seen in these colonies, vve would imagine the first dilliculties would bcthe principal ; for no people -not excepting the American — can he quicker in their pieoepfcioii of anything to their advantage. Attention has ag.un in Au.stialia been directed to the mattci, and as theie is now a considerable hade with China, piobably a genuine cfloi t w ill be made to find a market there for wool. While we confers to not the slightest appichension trom Amciiean competition <u any immediate failing oIF in purelmßc for the States, we l egret danger from another direction as imminent. The lesouices of Australia in wool production are unequalled in magnitude, and their develop' ment is lately something m.irvelloiLs Syndicates and companies aie taking up enormous aicas of land heretofoie legaidedas woithless. and with a full knowledge of the capabilities of the countiy and the money to woik it to immediate pioh't, the enormously mci eased supplier of vvoolmustwithintwo or three years at faithc&t he sensibly felt. No atiuggling pioneeis these lessees of new countiy in Queensland, the Northern Tenitoiy. and Western Australia, butcopaitnciships of individuals already possessed ot gieat wealth, well knowing the woik they have to do, and resolved to do it because of the. piomise — almost certainty -of enormous returns. Stocking, boring tor water and other expensive woiks, which would prove insuperable obstacles to even wealthy individuals, aie jpjiaided with comparative indifference by tlic-e syndicates. Thus for some yeais past, stocking new country, and almost exclusively with sheep, has been piocoeding. The w 00l letunis from these immense stations will increase amazingly, and it is therefore we appiehend that the enormous Austialian productions alone will have a depressing elf'ecton the market values of wool. In the present we have the slightly lower pi ices for faulty merino and some lung wools, but the tiansactions on the. whole at the opening sales in Melbourne are moit encouraging. For this year at least the lates for superior wools are likely to bo maintained, or but {-lightly affected. Supeiior cross-bred— the farmer's wool — if well and truly got up will also appaicntly be. in demand, but even should- this not be so the high price for mutton will moie than compensate for the dideieuce. Inferior wools and British wools appear by late advices from England to he most neglected, the latter pai ticu.hu ly to that extent that all farineis who can afford to do so are holding over for a rise in values.— Witness.

Not long ago a Scotch Boanl school inspector asked the members of a ckss that was under examination, " What is the cause of the Baltness of the ocean ?" Flushed with the discovery which had flashed upon her mind one little girl, raised her hand. ■ "You may tell," said the inspector. " Salt fish,' air i" exclaimed, th.o pupil triuui£hjin.tjy j