56 agricultural depression 



Wool Prices. 



As to wool, the total value of the wool produced 

 in 1 89 1 is put by Sir Robert Giffen at ;^6,ooo,(X)o, as- 

 suming the average price to be gdd per lb. The same 

 quantities at is 6id per lb., the average price of 1874, 

 would have made i^ii, 406,000.^ 



With the later price of yd down to 5^d, the total loss 

 to the wool grower is still more striking. 



This closely agrees with the results from farm ac- 

 counts. Wool seems to have averaged about 40s per 

 "tod "between 1873 and 1878, and the fall to 1893-94 

 has been about 20s per " tod." ^ 



In Cumberland, the Teviotdale Farmers' Club supply 

 figures showing a drop in values of wool between the 

 averages of 1870-74 and 1890-94 of about 50 per cent. 

 In Devonshire and Dorset, the fall has been nearly 50 

 per cent. 



Mr Pringle gives startling figures from a farm on the 

 Wolds of the North Riding of Yorkshire, where the clips 

 of 1500 fleeces in 1864 made ;{S"i925, and of 1260 fleeces 

 in 1894 made only ;^507 i is. 



In Scotland the fall in " black-faced " wool is put at 

 from IS a lb. in 1872 to 5^d or 6d now. 



Meat Prices. 



By Sir Robert Giffen's tables the value of meat in 

 1 89 1 is given at ;^75, 000,000, while the same quantities 

 at the prices of 1874 would have brought ;^98,ooo,ooo, a 

 decrease in value of ;f 2 3, 000,000, or of about 23-47 per 

 cent.^ 



Mr Fox's inquiry into the Garstang district of Lanca- 

 shire in the autumn of 1893 shows heavy falls in price of 

 cattle: — "Bullocks worth ;<^I5 to ;:^i6 eight years ago, 

 now worth from ;^io to ^11. The autumn cattle have 

 sold 40 per cent, less than five years ago." Calving cows 

 and heifers sell at a fall of from 25 to 50 per cent. 



1 Vol. II., Appendix A. Tables XI. and XII. 

 * Wilson Fox, Lincolnshire, Appendix A 4. A. 

 3 Vol. II., Appendix A., Tables XI. and XII. 



