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Updated: May 12, 2025
To wrest control from him it was necessary for the raiders both to make him "unload" his own holdings of stock and to impair his reputation so that his supporters would desert him or stand aloof. On the previous day National Woolens closed at eighty-two for the preferred and thirty-nine for the common.
In the two months between Scarborough's election and his inauguration, the great monopolies thriving under the protection of the state's corrupted statute-book and corrupted officials followed the lead of their leader, Dumont's National Woolens Company, in making sweeping but stealthy changes in their prices, wages, methods and even in their legal status.
Not long ago the British manufacturers delivered another hard blow to the import of cloth and woolens from the West. They set up in southern and middle Russia immense wool factories, stocked with the most perfect machinery from Bradford, and already now Russia imports only the highest sorts of cloth and woolen fabrics from England, France and Austria.
He had expected to talk National Woolens, and this man did not even speak of it, seemed absorbed in a stock in which Tavistock did not know he had any interest whatever. "G. L. and G.?" he said. "Not much perhaps thirty thousand shares. It's been quiet for a long time. It's an investment stock, you know." Dumont smiled peculiarly.
"Give him orders to take on Monday all offerings of National Woolens, preferred and common, at eighteen or less. He'll understand what to do." "But I may be unable to get up the syndicate on such short notice." "You must," said Dumont. "And you will. You can get a move on yourself when you try I found that out when I was organizing my original combine. One thing more very important.
Capitalists, who had reared in the village below us a huge stone mill designed for the manufacture of woolens, had made advances which he did not meet as desired, for their system of operating was disloyal, he said, to all true justice, encroaching, as it did, upon the liberties of a class largely represented in this, as well as in all other towns.
Only once he missed his course, but by back-tracking one hundred yards he found it again. Morning came out, the trees emerged from the gloom, the shadows faded. He kept his direction by the landmarks learned while following his trap lines. The day was surprisingly warm. His heavy woolens began to oppress him.
I venture to say that no legislative body has ever had presented to it a more complete and exhaustive report than this on so difficult and complicated a subject as the relative costs of wool and woolens the world over. It is a monument to the thoroughness, industry, impartiality, and accuracy of the men engaged in its making.
Vice-President Calhoun had taken note of the coming storm, and in 1827, when the woolens bill, a highly protectionist measure, was before Congress, a measure in which all the Middle States' interests were greatly concerned, he took pains to have his vote recorded against the bill. Thus he publicly announced his change of heart.
Aunt Margaret has given me such a lovely blue muslin dress, and I am to have it made to wear at a garden party out at Brighton next week. I never had a muslin dress before nothing but ugly prints and dark woolens. I wish we were rich, like Aunt Margaret. Aunt Margaret laughed when I said this, and declared she would give all her wealth for my youth and beauty and light-heartedness.
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