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Excerpt from Wool-Growing and the Tariff, Vol. 5: A Study in the Economic History of the United States In the whole of the tariff, probably no schedule has excited more attention and controversy that the wool and woolens schedule. The granting of protection to both the grower and the manufacturer, whose interests ordinarily are so opposed, has furnished an excellent example of the working of the policy of protection in some of its phases. The results of protection in both industries afford unusually interesting problems in economics, and also in politics. The protection of wool has long been the chief bait which the manufacturers could hold out to the farmers of the country to secure their support for the protective system. Wool has been the most widespread and important single agricultural product a protective duty on which could be held to benefit the farmer generally. An attempt to estimate the results which the farmers have obtained from this duty should thus be worth while. My chief interests in the subject, however, have centered in somewhat broader aspects of the problem. To determine the extent to which the tariff moulded the fate of this pursuit, and whether its effect had or had not been exaggerated, it became necessary to inquire into all the other factors that influenced, in one way or another, the development of the industry. The study has thus become one of the intricate interplay of economic forces and the complicated working of economic laws. The effort to untangle a perplexing situation, such, for instance, as arose during the Civil War with the arrival on the scene of action of a group of new and unfamiliar factors, should prove instructive as illustrating the complicated character of economic problems and the errors which may be committed when such complexity is unrecognized or ignored. The investigation, furthermore, may serve to throw light upon certain characteristics of agriculture and, perhaps, add a chapter to that neglected part of our economic history. Finally, a study of the development of the wool-growing industry in the United States affords an admirable illustration of the working out of certain fundamental influences which have largely dominated the economic history of the country. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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