COMMITTEE PRINT-UNREVISED Note: This print is for the immediate use of the Committee CONTENTS. Brown, Mr. Jacob F., president of Slater & Sons, Webster, Mass. Cherington, Mr. Paul T., secretary of National Association of Wool Manu- facturers, 50 State Street, Boston, Mass... Hagenbarth, Mr. F. J., president of National Wool Growers Association, 15 52 3 Hobbs, Mr. Franklin W., of Boston, Mass., representing the National EXCHANGE FLUCTUATIONS AND TARIFF DUTIES. COMMITTEE ON WAYS AND MEANS, The committee met at 10.30 o'clock a. m., Hon. Joseph W. Fordney (chairman) presiding. SYATEMENT OF MR. FRANKLIN W. HOBBS, OF BOSTON, MASS., REPRESENTING NATIONAL ASSOCIATION OF WOOL MANUFACTURERS AND THE SPINNERS' ASSOCIATION. The CHAIRMAN. The committee will come to order. We have some gentlemen here to be heard on wool and on the exchange value of imports. We will call Mr. Franklin W. Hobbs, of Boston. Mr. GREEN. Are the wool manufacturers to be heard on anything except the matter of exchanges? The CHAIRMAN. No; they want to be heard on the question of the serious condition in which the wool industry is found at the present time. They are asking for some relief by Congress, temporary relief to save them from bankruptcy, and they want to express themselves to the committee here and ask Congress to give them some relief before a general revision of the tariff can be enacted into law. Mr. YOUNG. Has any bill been introduced yet? The CHAIRMAN. No. A statement has been prepared, however, which I have before me, and a copy of which, I think was sent to every member of the committee last night. The statement was prepared by these gentlemen showing the purpose of their visit here and the reasons for asking to be heard. Mr. HOBBS. I am one of a committee representing the National Association of Wool Manufacturers and the Spinners' Association. We came to Washington to present certain ideas with reference to the question of exchange and the effect that it has had on the domestic industries and on the question of imports. We did not come with any idea that there was to be a hearing of your committee, but yesterday we were advised by your chairman that the committee had been called and, of course, we were only too glad to be heard and to explain and put before you the ideas that we have in mind, but perhaps not in such great detail or with as much evidence as you might desire admitted or presented at a later time when we had sufficient time to prepare it. It is needless to go at any great length with any of you gentlemen, into the very distressing conditions in business in the country at the present time; in the west, the wool growers; the cotton growers, and general conditions throughout the country. In the eastern part of the country, in the manufacturing districts, practically everywhere |
