69 



The following table exhibits the amount and price of cotton during these years, 

 under the tariffs of 1842 and 1846 ; and the comparison of the production and 

 prices of cotton with the rise and fall of prices of wool, will show that the latter 

 was more influenced by the former than any other cause, save in the years 1853 

 and 1854, when the excessive amount of currency had forced the price of wool 

 much above its highest point : 



It needs but a momentary glance at this table to find in it the solution of the 

 difficulties presented by the tables preceding it. We see that the prices of wool 

 sympathize with — we might say are governed by — those of cotton. This is the 

 ruling power, and we think it will soon be found all-potential when cotton 

 begins to assume its former magnitude in production. 



The country must, under all circumstances, have a certain amount of woollen 

 goods. The greater comfort of woollen over cotton clothing, and its siaperior 

 adaptation to health in all seasons, even the warmest, will create a large con- 

 sumption of wool. This consumption will increase as our woollen manufactories 

 embrace a greater variety of production. The cheap and brilliant colors 

 through the aniline dyes obtained from the distillation of coal will make the 

 finer and lighter woollen goods favorites for ladies' wear, and our country should 

 make its own broadcloths. 



The question involved in a protective duty on wool is, whether the consump- 

 tion of our country shall be furnished entirely by the wool grown in it, or in 

 part by foreign wools and woollens. If the former, the duty must be a high one. 

 This is seen in the experience of the country under former protective tariffs. 

 If not so protected, then between the domestic competition from cotton, and the 

 foreign one from foreign wools and woollens, between these upper and nether 

 millstones, the wool interest, on the return of the accustomed cotton production, 

 will be ground to atoms, as heretofore. 



