tions. In 1880 there were 3,648,520 pounds exported, with a total value of $637,586. The lowest point was reached in 1884, when there were 2,304,701 pounds, valued at $343,456, exported. The highest point was reached in 1887, in which year the quantity was 6,728,292 and the value $824,770. The largest value, however, was in 1881, when it was $991,407. From 1887 there were continued fluctuations, reaching 5,977,407 pounds, valued at 824,882, in 1894, and in 1885 there was a marked decrease to 2,343,081 pounds, valued at $294,100, the quantity being nearly as low as that of 1884, and the value being by far the smallest in the period. In 1895 there was a decrease from the exports of 1880 of 1,305,439 pounds, or 35.8 per cent, with a corresponding decrease in value of $343,486, or 53.9 per cent.

The total quantity of wool exported started with 3,840,071 pounds in 1880, reached its lowest point in 1884, when there were but 2,315,094 pounds exported, and increased to 6,986,232 pounds in 1887, the highest point, from which, with many fluctuations, it fell to 6,622,190 in 1895, an increase of 2,782,119, or 72.4 per cent, over the exports of 1880. The total value started with $709,573 in 1880, increased to $1,010,624 in 1881, the highest point, and, as in the case of quantity, shows many fluctuations, falling to $346,529 in 1884, the lowest point, and finally reaching $778,563 in 1895, an increase over the value of the exports of 1880 of $68,990, or 9.7 per cent. Of the total exports in 1880, 5 per cent of the number and 10.1 per cent of the value were represented by domestic, and 95 per cent of the number and 89.9 per cent of the value by foreign, exports; while in 1895 the domestic exports equaled 64.6 per cent of the total quantity and 62.2 per cent of the value, and the foreign had decreased to 35.4 per cent of the quantity and 37.8 per cent of the value, showing an enormous increase in the proportion of domestic exports during the period.

The consumption of wool in the United States has increased from 356,791,676 pounds in 1880 to 509,159,716 pounds in 1895, an increase of 42.7 per cent. There was a decrease to 290,385,247 pounds in 1881, the lowest year of the period, followed by three years of steady increase, bringing the consumption up to 376,035,557 pounds in 1884. From 1886, when the consumption equaled 424,404,109 pounds, there was a decreasing tendency until 1890, when there were 377,911,776 pounds consumed, after which, with the exception of 1894, there was an increase each year until it reached the figures given above for 1895, the largest year of the period.

TABLE 11.-Production, imports, exports, and consumption of wool in the United States, by years, 1880 to 1895.

TABLE 11.-Production, imports, exports, and consumption of wool in the United States, by years, 1880 to 1895-Continued.

This does not include the wool in imported manufactured goods. North's Wool Book for 1895 gives the total per capita consumption of wool as follows:

CONSUMPTION PER CAPITA OF RAW WOOL, NOT INCLUDING WOOL IN IMPORTED MANUFACTURED GOODS.

[From the Statistical Abstract of the United States for 1895, frontispiece.]

Wool produced, imported, exported, and retained for consumption during 1840, 1850, 1860, and from 1863 to 1895.

[From the Statistical Abstract of the United States, 1895.]

b Year ending September 30.

a From estimates of the Department of Agriculture.

V. THE COUNTRIES FROM WHICH WOOLS ARE IMPORTED-GOLD

COUNTRIES-SILVER COUNTRIES.

[From the Boston Commercial Bulletin, August 15, 1896.]

Here is the table of the imports of wool at Boston, New York, and Philadelphia for the fiscal year ending June 30, 1896:

CLASS 1.-Compete directly with fine Ohio, Michigan, California, Montana, and Texas wools.

*Legally on a gold basis.

The money in circulation is, however, neither gold or silver, but paper. + Russia is accumulating gold, and is about to abandon the silver basis for a gold basis. Finland is already on a gold basis.

CLASS 2.-Compete directly with Indiana, Kentucky, Missouri, and all American medium

*Legally on a gold basis. The money in circulation is, however, neither gold or silver, but paper. Russia is accumulating gold, and is about to abandon the silver basis for a gold basis. Finland is already on a gold basis. In the Boston Commercial Bulletin of August 22, 1896, the following appears:

WOOL AND SILVER.

To the Editor of the Commercial Bulletin:

SIR: In your issue of Saturday, August 15, under the heading "How the wool countries line up,' you place the Republic of Uruguay, with nine million pounds of Class 1 wool and forty-eight thousand pounds Class 3 wool, in the category of silver-standard countries, whereas Uruguay is a single gold standard country. For my authority I can refer you to "Monetary systems of the world," by M. L. Muhlemann, Deputy Assistant Treasurer of the United States.

Yours, truly,

NEW YORK, August 15.

B. W. SCHWAB.

The BULLETIN's authority was The Statesman's Year Book for 1896, p. 1110, where the standard coin of Uruguay is set down as the silver peso.

Muhlemann's classification is, however, confirmed by leading dealers in exchange. A transfer of

On this the Bulletin has editorial comment:

1. THREE CLASSES OF WOOLS IMPORTED.

The wools imported into the United States are of three classes, roughly speaking— merino, English, and neither merino nor English. The wools raised in the United States are mostly merino (such as Ohio, Michigan, and Montana wools) or English blood (such as Indiana, Kentucky, and Maine wools). We also raise a certain amount of third class or coarse wools in Colorado and New Mexico from the native Mexican sheep. The rough wool on the bellies of our sheep is also sorted in this class. This coarse wool forms, however, but a comparatively small proportion of the American clip, which is mostly fine and fine medium stock.

2. CARPET WOOLS USED IN MAKING CLOTHING GOODS.

The third class, or coarse wools imported from China and Turkey, are, however, used to-day to a very considerable extent for other purposes than carpets, though that is their main use, because the fashion in men's wear to-day is rough, coarse goods, commonly called cheviots.

[A correspondent.]

Mr. Hartmann is mistaken if he supposes that the 26,000,000 pounds imported from China compete directly with Montana. Most of the Chinese wools are too coarse and rough to go into such goods as are made from Montana wool.

3. HOW MUCH WOOL IS USED IN MAKING CARPETS.

In the last census year, 1890, the carpet mills of the United States used 52,742,234 pounds of foreign and 2,139,332 pounds of domestic wool.

As there were 83,063,572 pounds of class 3 wool imported in 1890, of which 20,600,000 was on hand in warehouses January 1, 1891, the amount of foreign class 3 wool used for rough cloth, or any purposes except carpets, was about 10,000,000 pounds, or oneeighth of the whole importation. Of course all the class 1 and class 2 wools enter into direct competition with American wools.

4. CHINA WOOLS LARGELY USED TO MAKE CLOTHING GOODS.

China wools are nearly all class 3 wools, and in this year of rough fabrics their use for other purposes than carpets is large. They, of course, take the place of fine fabrics made from our own fine wools. As will be seen below, however, China wools are nearly all not fine but rough, coarse goods. When fine, smooth fabrics are again fashionable, their use for other purposes than carpets will be lessened.

CHINA LOW PRICES MAKE LOW PRICES FOR ALL AMERICAN WOOLS.

Even if the imports of China wool were less than they are, their low price fixes low prices for our American wools.

Uruguay's wool from the silver to the gold column makes the figures of wool imports at Boston, New York, and Philadelphia stand as follows: