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THE FARMER'S MAGAZINE. 



circumstancea would have been the case had the amount been 

 ten times as large ; the result was none other than was to be 

 expected, but the extreme lownessof prices, so far from giving 

 any contidence, only tended to confirm the exaggerated 

 opinions in eome quarters entertained as to the rates likely to 

 rule at the clip ; iu the meantime, the market for both home 

 and foreign was kept in complete suspense, and any sales that 

 took place were at the lowest possible point. As the wool 

 trade was tlie last to feel the effects of the crisis, so also it 

 was the first to show signs of vitality, and as soon as home 

 wools were in the market, the trade having driven themselves 

 very bare of stocks, there was a complete rush to secure them, 

 which, consequently, opened at a fair advance upon the 

 previously current rates ; this at once induced growers to 

 raise their pretensions, and a considerable advance was 

 soon paid. The same activity has prevailed ever since 

 and we scarcely remember any former period when the advance 

 has been more decided and continuous, a result brought about 

 altogether by tiie legitimate requirements of the trade, without 

 any excitement of speculation. It is now at least quite appa- 

 rent that the growth of home wools is altogether inadequate 

 to supply the increased power of consumption, leaving out of 

 the question the number of new mills started within the last 

 few years. We pointed this out strongly as far back a.% in 

 1853 and 1854, and have referred to it in our successive an- 

 nual reports since. It cannot be doubted but that for the late 

 panic English wools would have reached most extravagant 

 rates last sprinsr, and it may appear strange that, uotwith- 

 staudiug the ordeal the trade has since passed through, prices 

 should now be in many cases nearly as high, and even higher, 

 than before that period: this being the case thus early iu the 

 season, and taking into account the existing scarcity of the 

 raw material, together with the cheapness of food and the low 

 rate of money, there is little room to doubt that before 7text 

 clip, in the ordinary course of events, a very high range will 

 be established. 



Wool Imports. — Under almost every head there has 

 been a very considerable falling off in receipts. We 

 cannot at all satisfactorily account for this in the case 

 of foreign ; for, notwithstanding the unsettled state of 

 trade during a great part of the year, the position of 

 our markets has at least been as little discouraging as in 

 any other quarter : at the same time we must admit that the 

 prospects for low foreign wools generally Lave been far from 

 encouraging, and imports have in nearly all cases resulted in 

 heavy losses. It is chitfly in these kinds that the deficiency 

 exists, and we come to the coi. elusion that considerable stocks 

 must still remain on the other side ; but their destination will, 

 no doubt, greatly depend on the prospect of remunerating 

 prices. We have scircelj ever known the market so bare of 

 supplies. All current qualities meet with ready sale at ad- 

 vancing rates, but there is still very little disposition to operate 

 freely in other descriptions. 



Wool Exports of foreign and colonial have greatly di- 

 minished. In the case of fine colonial tliis is accounted for by 

 the requirements of our own trade having absorbed a larger 

 quantity than usual, and they have, consequently, been worth 

 more iu this country, while the state of trade on the conti- 

 nent has been more slow in recovering, particularly iu Ger- 

 many, where the demand has been scarcely equal !o their own 

 domestic growth. As regards foreign our markets have sel- 

 dom offered much general selection, and the stocks would have 

 been inadequate to meet any considerable demand ; which, 

 however, has never existed. We do not consider that our re- 

 duced exports are so much the result of large direct receipts 

 on the continent as the consequence of the more circumscribed 

 demand there arising from depressed trade ; and, as a proof of 

 this, from time to time wools have been re-shipped to this 

 country. In British wools there has also been a large falling 

 off, and all kinds of combing are still ruling at much higher 

 prices here than elsewhere. 



AusTRALi.i — The import for the year exhibits only a small 

 increase, and confirms the opinion we have frequently before 

 expressed, that the growth of wool in these colonies has re- 

 ceived a decided check; which is very much to be regretted, as 

 these descriptions are peculiarly suited for our home 

 manufacturers, and the demand has been each year in- 

 creaeing on the continent. The general condition of the 

 last clip does not aiVord an opportunity for favourable com- 

 ment, the most important feature being the increase of 



burr both in the Sydney and Victoria districts. There has 

 also been a great increase in the quantity sent honae in 

 the grease, which has, no doubt, arisen from unavoidable 

 circumstances, but we do not by any means consider this ob- 

 jectionable, although washed wools are generally in more 

 favour with the /lome trade; tliis is a point on which we must 

 allow the groirers to be the best judge?, and as far as oppor- 

 tunities permit they will, no doubt, send the wools iu such 

 condition, as from experience they find to yield the best re- 

 sults. New Zealand wools continue to show the same healthy 

 growth, and are, in consequence, much appreciated. The re- 

 ceipts of Australian at tliis port have been less than in the 

 previous year, liaving been 16,015 bales, nearly the whole of 

 which has been sent forward for the sale to London. As long 

 aj the importers there show a decided indisposition to avail 

 themselves of this market it is useless to contend against it, 

 and the Liverpool interest in this branch of the trade is com- 

 paratively very small ; but it only requires to make a fair trial, 

 not on too small a scale, and the advantages of this port would 

 soon become apparent. The " Black Ball" and '' Eagle" lines 

 of clipper ships having been united under the able and ener- 

 getic management of Messrs. James Baines and Co., and Mr. 

 Thomas Mackay, of that firm, beius; now on his way to the 

 colony to complete arrangements, affords the best hope that 

 every encouragement will continue to be given to shipments 

 to Liverpool. The first series of the season of fine Colonial 

 took place in London from February 2jth to March 13th, 

 consisting of 36,000 bales, including 16,000 bales Cape ; the 

 quantity was less than at the corresponding sales of the former 

 year, but exceeded the estimates previously formed, which cir- 

 cumstance, owing to the extreme sensitiveness of the trade at 

 that period, operated against the advance which was established 

 at the opening sales, and on the average the rates were about 

 the same as at the close in December, 1857. The second 

 series lasted from the 29th April to the 29th May, the quan- 

 tity being 58,000 bales, inclusive of 9,400 bales Cape ; a con- 

 siderable dechne had been expected, which waste some extent 

 realized at the commencement, prices being fully 2d. per lb. 

 lower on the average, which, however, was partially recovered, 

 and as there was good competition for superior flocks the value 

 of these almost reached previous rates. The third series, from 

 the loth July to the 24th August, comprised 77,500 

 bales, including 10,000 bales Cape. The prospects of 

 business had by this time considerablj- improved, and notwith- 

 standing the large quantity, these sales opened with spirit at 

 a fair advance; and while they proceeded this feeling was 

 furthor strengthened by the ir lluenceof an early and abundant 

 harvest, and an average advance of 2d. per lb. was established ; 

 French buyers operated freely, parlicularly in best Australian, 

 but very little wa.s taken for other Continental Marekets. The 

 fourth and last series of the year commenced on the 4th of 

 November, and terminated on the 1st of December, the 

 quantity being 53,800 bales, including 20,700 bales Cape : 

 great spirit was manifested, and prices showed an unuauol 

 degree of uniformity throughout, closing firmly at an advance 

 of fully 2^d. per lb., being as high as before the psnic for all 

 good current qualities. The Home Trade were again the 

 chief purchasers ; tl ere was a fair competition for Fiance, but 

 they were unable to pay the prices ; while for Belgium and 

 Germany the quantity taken was altogether insignificant 



Cape of Good Hope. — This description continues to gain 

 i;. public estimation, and these colonies are evidently destined 

 to take a high position from their peculiar adaptability for the 

 growth of fine wools, particularly of fair useful qualities, and 

 the extent to which it may be carried seems almost without 

 limit. The rising colony of Natal appears in particular to 

 offer a wide field to the enterprising colonist, there being an 

 abundance of open country well suited to pastutal purposes. 

 A great portion of Cape wool is open to the objection of being 

 of a flim«y character, to obviate this a constant and judicious 

 infusion of fresh blood is necessary, and, if not available in 

 the colony, no expense sliould be spared to procure the same 

 from Europe. 



Germa.n continues to attract less attention every year, but 

 the receipts have been moro than double the previous twelve- 

 month. Perhaps no country suffered more than Germany by 

 the American crisis, from which it has been slow in recovering, 

 and this hag not only curtailed the operations in our wool 

 markets for that quarter, but also induced the increased ei- 

 portation referred to. 



