AMERICA AND WOOL.

Hastings Standard, Issue 262, 4 March 1897, Page 2

AMERICA AND WOOL.

Major M'Kinley, the recently elected President of the United - States, assumes the responsibilities of his office to-day. M'Kinley and Protection are convertible terms and the tariff question will be his principal card. Immediately after his election in November last, steps were taken to set up a Commission to inquire into the tariff, and as is usual all those who have special axes to grind flooded the Cammission with reasons and arguments for protection. At the outset it was stated that the remitted duty on wool would in part be reinstated, this by way of a sop to the Populists among the farmers. But the proposed duty does not appear to satisfy those most interested in wool. The wool manufacturers who in a matter of this kind are better able to form an accurate opinion than the woolgrowers, appear to have disagreed with the latter at a Conference held to discuss the subject, as to the rate to be levied. The woolgrowers, apparently want 4 cents per lb more than the wool manufacturers think is necessary and when Yankees disagree the inevitable Trust Syndicate is called into use to terrorise the one side or the other. The wool manufacturers are forming a syndicate which is to buy an enormous quantity of Australian and River Plate wool, and with a heavy stock in hand it is possible to make the home production practically unprofitable to the woolgrowers. An extra session of Congress is to be held on the 15th inst. when the tariff question is to be dealt with. The Cuban question in which the M'Kinley party will have to take a decided stand, being pledged to recognise the insurgent Cubans, is checking the incipient industrial activity. War with Spain is not only expected but is seriously urged, and the Republicans will have to face the situation as best they can.