THE MARLBOROUGH EXPRESS. Published Every Evening. THURSDAY, JANUARY 4,1894. THE PRICE OF WOOL.

Marlborough Express, Volume XXX, Issue 3, 4 January 1894, Page 2

THE MARLBOROUGH EXPRESS. Published Every Evening. THURSDAY, JANUARY 4,1894. THE PRICE OF WOOL.

♦ The low prioe of oar great staple product, continue! to be a matter for great regret, and ii all tbe more to be deplored m that we fail to ccc any chance m tbe immediate future of muoh higher values being obtained. In a trade summary compiled by the New Zealand Herald, the following are stated as the valuei placed upon wool exported from the colony for the last eleven years :—IBB2, ll^d per lb; 1883, lOgd; 1884, 9Jd; 1885, BJd; 1886, B*d; 1887, 9d ; 1888, 9d; 1889, 9ii; 1890, 9|d; 1891, 9Jd, 1892, Bfd." The prioe at present is a trifle higher than m 1892, bit is still far lower than we should like to see it. We are afraid, however, that there is bat little hops of any new market being formed for wool, although there is just a possibility that with reciprocity with Canada —the idea of whioh we regret to notioe is apparently scouted by the present Government —there might grow up a steady demand for oar wool from the Ontario manufacturers. We notioe also that Sir Robert Stout m a speech delivered at tbe annual dinner of tbe New Zealand Commeroial Travellers* Association, held at Dunedin the other day, seemed sanguine that we would open up a wool trade with Japan, Corea, and Eastern Siberia. But the purchasing power of the Japanese and Ooreans ia very slight, and as to any trade with the Russian ports m Eastern Siberia, - the European population is very small, so that we fear that the volume of our wool export is not likely to be materially increased by any-demand whioh might arise I from that part of the world. Wool is low m price, and we are vastly afraid that lon m price it must remain. Whit the colonists ought to strive for is to be less dependent year by year upon the wool tiade, to endeavor to work op the dairy and othei industries bo as to more materially supplement what haß always been our staple export. Meanwhile wool growers will have to ■ study how they can best lesion the oost ol > growing the artiole they have to sell, and I to improve the breed of tbe sheep and so secure a finer quality of wool. Any great I advance m the price of wool, is, we fear, not to be looked for. It ii not a verj > oheerful prospect, but it would be follj ' to disregard faota.