Publisher's Synopsis
Excerpt from Bulletin of the National Association of Wool Manufacturers, 1909, Vol. 39
The German Agreement, and Should There Be a Ten Per Cent Margin for Undervaluation of Imported Merchandise? Mr. Whitman asked for the abrogation of the German Agree ment.
II. Supplementing the argument of Mr. Whitman there was submitted by the Tariff Committee of the Association, at the request of Chairman Payne of the Committee on Ways and Means, an explanation and defence of the present system of com pensatory duties, which has stood in the tariff Since 1861, practically unaltered, except in the brief free wool period of 1894-1897. A historical statement of the origin of this system was given, and there was a recapitulation of the most important testimony presented in behalf of it in the successive tariff revisions Of 1867, 1883, 1890, and 1897, including the lucid argument of Senator Aldrich in 1890. Besides this recapitula tion of past evidence, there was submitted a large number of new and fresh statements by representative wool manufacturers and wool merchants, showing that in actual practice about four pounds of' unwashed wool were required to make a pound of finished cloth, and that, therefore, the long accepted basis of the compensatory duties was just and accurate. This was the testimony of both carded woolen and worsted manufacturers, and the statements were corroborated by the evidence of importers of wool and of manufacturers of tops. There were separate state ments showing the Shrinkage from unwashed wool to scoured wool, and from scoured wool to cloth. The proportion of three pounds of unwashed wool to one pound of scoured wool has long been accepted as a fundamental proposition in the framing of the wool and woolen schedule, and this was confirmed by the annual statement of the National Association of Wool Manufacturers, giving the average shrinkage on all American wools as per cent. An additional statement as to the compensatory duties4 national association OF wool manufacturers.
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