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Townshend Acts - place duties on colonial importation of glass, lead, paints, paper and tea for purpose of raising revenue to pay for the defense and administration of the American colonies. As a consequence of the combined foreign and domestic competition, increased in the former case by the great improvements in machinery, the low price of wool in 64 REVISION OF TAllUT— WOUl-KNS UILT,. [1827 an Europe, ana the revulsion of 1825, whid. stinu.lated the exportation of woolens, unaer tl.e various devices en.pU-yed for eva.l.ng tl.e cUU.es and breaking down tl.e American manufacturer, the woolen interests a th. time, as well as the agricultural branches connected with them found themselves suffering under the severest depression and unable to s ruggle xvith the variou adverse inlluenccs by which they were surrounded 1 he a,uount of capil vl employed in woolen manufactures, had increased since the peace, from ten millions to fifty millions of dollars in the present year A corresponding increase had taken place in the number ol sheep raised, and in the production of wool, which found a ready sa e so long as the manufacturer was prosperous.

Pages: 202

Publisher: CreateSpace Independent Publishing Platform; 1 edition (March 6, 2015)

ISBN: 150875859X

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