There is a seeming excuse for this in the fact that extensive regions in South America and Australia, are devoted to Sheep-growing where animals are neither housed nor herded, and where they are exclusively fed, at all seasons, on those native grasses which are the spontaneous products of the soil. I presume Wool is in those regions produced cheaper than it can permanently be on any considerable area of our own soil; and yet I believe that the United States should, and profitably might, grow as much Wool as is needed for their own large annual consumption. Here are my reasons:
I. When the predominant interest of British Manufactures constrained the entire repeal of the duties on imported Wool, whereby Sheep-growing had previously been protected, the farmers apprehended that they must abandon that department of their industry; but the event proved this calculation a mistake. They grow more Sheep and at better profit to-day than they did when their Wool brought a higher price under the influence of Protective duties, because the largely increased price of their Mutton more than makes up to them their loss by the reduced prices of their Wool. So, while I do not expect that American Wool will ever again command such high prices as it has done at some periods in the past, I am confident that the general appreciation in the prices of Meat, which has occurred within the last ten or fifteen years, and which seems likely to be enduring, will render Sheep-growing more profitable in the future than it has been in the past. At all events, while our farmers are generally obliged to sell their Grain and Meat at prices somewhat below the range of the British markets, it is hardly conceivable that they should not afford to grow Wool, for which they receive higher average prices than the British farmers do, who feed their Sheep on the produce of lands worth from $300 to $500 (gold) per acre.
II. Interest being relatively high in this country, and Capital with most farmers deficient, it is a serious objection to cattle-growing that the farmer must wait three or four years before receiving a return for his outlay. If he begins poor, with but a few cows and a team, he naturally wants to rear and keep all his calves for several years in order to adequately stock his farm, so that little or no income is meantime realized from his herd; whereas a flock of Sheep yields a fleece per head each year, though not even a lamb is sold, while its increase in numbers is far more rapid than that of a herd of cattle.