HE TALKS OF WOOL.
Now let us talk for a few moments about the price of wool. For ten years preceding the repeal of the McKinley law, the average price of Ohio X.X.Washed wool in the Boston market was a little over 31 1/5 cents per pound. April 1, 1896 wool was quoted in the same market at 18 cents a pound. Such a startling contrast in prices needs no comments. As millions of our sheep were slaughtered we were compelled to import wool and woolen textiles into this country sending our money abroad, which should have been paid to the American farmer and sheep raiser. Instead of this we paid our money over to foreigners in exchange for wool and woolen textiles, which came into this country like a flood when the McKinley law was repealed and the duty removed. The result was that the woolen mills of America were practically all shut down and thousands upon thousands of American workingmen and women were thrown out of employment, and in turn, were unable to purchase the products from the American farm. No wonder the American farmer found a ready market for his potatoes in 1892, when all our people were employed, at from 50c to 60c a bushel; and to-day, when our people are unemployed, the farm price of potatoes is from 25c to 30c a bushel. Let us see what sort of a stewardship has been going on in this country for the last few years. For the twenty-five months ending November 1, 1892, our balance of trade with other nations was in our favor to the extent of $28,245,641. That is what the McKinley law and protection did for this country. That, fellow citizens, is what we call good business methods. Selling to other nations more than we purchased from them to the extent of $28,245,641, or an average of $1,129,822 per month, or $37,660 per day. (Applause.)