Salt Lake Telegram | 1920-11-26 | Page 2 | Foreign Clip to be Barred from U. S

FO f I N Ur UrTO P TO Of D. D fROM I S. S I f Say Monopoly 1 Thus Given Them in the thc United States Will Not Affect Price of Cloth ClothS S SENATOR Reed Smoot announced announced an an- flounced today that he would introduce a bill in the Un United ted States senate placing a complete embargo on foreign wool for for the period of or one year throughout through through- out the United States will wUl joice r at this move according to Professor F. F R. R Marshall of the National 4 association They believe it jt will save the present c critical situation and stabilize the ma mar maK r keti p The protective tariff bill bm bill which Is under preparation must be Introduced In the house and it would be almost a t year before it would be he of value if It passed The embargo bill would help the at once In various ways and would fill in the interim until the protective tariff bill can be passed Recent figures given eiven out by Professor sor SOl Marshall show that there are thousands thousands thou thou- sands of tons of foreign wool which other countries were ready to dump on the American market at every This wool has been a constant menace J The say that only a small group of speculators and manufacturers manufacturers ers have hae benefited by the unrestricted d importation of foreign wool They declare de do- dare clare that the raw material in a a. uit s-uit of clothes Is so small that shutting out Jut foreign wool will r-o r effect o ot th tho th price of clothing The embargo will wili the wool fit fit- a chance to recover from t lie J effet ts of or the war var war said Professor ProC s ol l Marshall ha ll This embargo billis bill Ibre tre I most hopeful sign which we WI 1 have LV seen Financial authorities predict that the embargo will wUl be followed by increased credits to the and aid In the ready financing of f the n lJ next seasons Ifs clip of or wool S