The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-07-09
Cleveland Heruld


So many prophets have risen up dur.
ing the past Eve years to foretell the near
departure OF the long, dark night Of hard
times and to announce the speedy dawn
Of new day OF business prosperity, and
their representations have SO invariably
been disproven by subsequent events,
that the public have got tired OF all such
predictions, and has scarcely the patience
10 read them. Mr.. Edward Atkinson,
the author Of the latest cheerful proph-
ecy, is, however, entitled to an attentive
hearing, from the fact that In 1868 and
1859 he warned the country OF the euor.
nous Losses that would be suffered by the
business community when the reaction
from high prices began, and before the
Redistribution OF labor, disorganized by
the war could be completed. He clearly
ioretold the serious shrinkage In the
value Of real estate and Of most kinds Of
property, and outlined an advanced
sketch OF the bitter experiences the coun.
try hs since passed through. When q
man who can point 10 such evidences OF
his sagacity tells US that we are almost
"out Of the woods, "and that better times
are at hand, we feel like lendingia re-
spectful ear to his arguments.
Mr.. Atkinson holds that the limit Of
the fall in prices has been reached, and
that with the disappearance Of the pre-
MUM on gold We have once more got
into normal relations with the world at
large. Our exports have enormously in.
creased, and as they are Of the prime
necessaries OF life we may expect con.
tinuance Of this immense and profitable
commerce. On this point he says:" Our
corn and meat Europe must have, or sui.
fer from want; our cotton she must buy
or her operatives must be idle and her
commerce crippled; our petroleum, our
lumber, our leather are articles OF com.
mon need, not Of luxury. and many Of
our goods and wares command the mar.
kets Of the world" This heavy demand
for our products from abroad, and the i'm.
proyements in our manufactures which
give many Of them foreign market and
better home market, are important
factors In the problem OF business i'm
proyement, but Mr.. Atkinson thinks that
the chief remedy for hard times lies in
the redistribution Of labor. Too many
people rushed into the towns and cities
during the war, and there was too great
an increase 10 manufacturing industries.
When, after 1873, the elimination Of our
business troubles came, the true remedy
for them also became apparent. It then
became evident that there could be no
complete restoration to prosperity until
the surplus labor population should be
redistributed between city and country,
between warehouse and Workshop, be-
tween factory and field, between mill and
mine, under normal conditions Of peace.
This redistribution, Mr.. Atkinson states,
Is proceeding most rapidly at the South,
next at the West, and least rapidly at the
East, because II Is more difficult for the
artisan and operative to change his or
her occu patton than 1t Is for men who
have been employed in outdoor labor,
either Of the field, the mine, or the forest"
The South, he holds, has the beat OPP
portunity to adjust itself to the new con.
ditions, "because its change Is from the
passive war OF slavery to conditions OF
real peace and prosperity, now for the
frat time attainable. Hence the changes
10 the position and condition Of labor at
the South are among the most startling
events Of this century, and the claim TO
be the Empire State may pass within ten
years from New York TO Texas.
Mr.. Atkinson thinks the wonderful re.
Operative powers Of the country have al.
ready nearly worked It out Of the slough
Of hard times, that business Is improving,
and that there 10 sn immense mass Of
loanable capital now idle which will soon
be brought into active use, with q re.
newal Of confidence In the future progress
Of the Nation and Just and righteous
standard OF value"