(a) There shall be imposed upon woolen yard goods manufactured or processed in the Virgin Islands, when sold, or removed for sale, consumption or use, a tax at the rate of 65 cents a yard except as provided in section 504 of this title.
(b) The term “woolen yard goods” as used herein, shall be interpreted to mean goods of which the original material is partly or entirely wool and yards which are, in ordinary business practices, sold by the yard.