Exhibition A d dresses. 



IGl 



and deride everything that is homemade. And, finally, it appeals ta 

 the great class of consumers, and bids them be candid when they buy. 

 even if they can not be patriotic. 



It has been through a long series of difficulties and discouragements 

 that our wool manufactures have attained to their present advanced 

 condition. Not the least of these impediments has been a vacillating- 

 tariff. In this respect the policy of our goverment has been some- 

 times friendly, sometimes decidedly hostile. The tariff of 1846, 

 which imposed upon wool a higher rate of duty than some of its 

 manufactures paid, proved especially adverse. Under its baneful 

 operation the growing of wool remained almost stationary, and many 

 of the largest manufacturing companies became bankrupt. 



From peculiar causes, not likely to occur again, there is considerable 

 depression in the wool business at the present time. The scarcity of 

 cotton which was caused by the war created an extraordinary demand 

 for woolen fabrics, which came largely into use where cotton had 

 been used before. The effect of this, and especially of the immense 

 demand for army clothing, was greatly to stimulate the growing and 

 manufacturing of wool, not only here at home, but in all those coun- 

 tries where these industries are pursued. Under these impulses the 

 wool-manuftictiiring ability of the country was increased with a 

 rapidity and to an extent wholly unknown before. Cotton mills were 

 converted into woolen mills and new establishments sprang up as if 

 by magic in many parts of the United States. And now we behold 

 the natural — 1 think I may say the inevitable— result, namely, an 

 amount of production which is largely ahead of the demand. Though 

 the machinery in operation was no more tlian the imperative necessi- 

 ties of war required, it far exceeds the normal demand in time of 

 peace. 



The condition of our wool industry in 1868, as compared with the 

 years 1850 and 1860, is shown by the following tabular statement: 



This statement shows conclusively that it is not by the influx of 

 foreign goods that our market for wool and woolens is d-epressed, 

 the value of imported woolens for 1868 being $5,500,000 less 



[Inst.] 11 



