New-York tribune., 1879-03-28
4 Prophet OF EVIL.

Mr. David G. Croly, the late EditOr-in-Chief OF
TIE GrGphic, has alarming reputation for making
pretty accurate predictions. Where they have
not happened to turn out accurate, they
have not been nueh noticed. Where they
have been accurate they have deservedly at
traeted good deal of attention. In the Autumn OF
1872 Mr.. Croly published remarkable article, IN
a short-lived magazine, entitled The Modern
Thinker" wherein he said: Il predict that
within the next two years this country
will experience the worst financial panic
known 20 It's history. 1t will be more wide
spread and disastrous than that of 1887. All the
debts created by our paper money war VIII be
wiped out OF compromised. Land will temporarily
fall TO one half its present value This panic will be
preeipitated in all probability by the failure Of the
Northern Pacific Railroad, and, perhaps, of the
banks who manage it. This viii bring TO light
such an amazing amount Of fraud in connection
with our railroads as to dscredt all stocks good and
bad. The bears will hold high carnival The
men Of most repute IN business circles and on the
street will prove TO be common cheats"
good deal of attention was attracted by the fact
that TIE TRIBUNE, FIVE days before the panic
warned the public that it was coming
But what shall be thought of a
magazine writer who gives the same warning with
PRECISE details. nearly year beforehand! OrdIn-
arHy prophets do not receive muCn CIcdlt
and especially prophets of evil. What MI
'Croly has already told. however. warrants
special interest at least in his present predictions
2hey were published a day or two ago in The
Gruphic and this is hIs own summary Of them:
l. Tue year SO Will. on tne whole, be prosperous
one for tue United states. There will he general re-
vival Of industry labor will b. employed and confidence
in the future universally felt Before the close 0f the
year there will be widespread interest IN precious
metal mining. dangerous speculative 1eehng ID Othef
industries VIII soon show iieet
.. There viii be partial failure or crops tins year
Our hay crop on the Atlantic slope will be short
3. At least two important failures or Wall street mag
viii take place this They VIII be Of persons
with whose names every one is familiar.
4. An speCte0 weakness in our National banking
system may be developed du ing the coming year
3 The isDrop0rOn Between exports and imports,
have gitn sscd Tor the past two years, viii
come 10 az end fore 1881 Home prices VIII 20 higher
and foreign DDS be sold cheaper We shall export less
and import more. Unless the " unexpected occurs
there Will drain of gold abroad, and then resumT-
ton present established must be Iegsated upon
anew or lt vii fan.
g. should ,he country he prosperous and resumption
untl. the National Conventions meet IN lSSu,
Ohu Sherman viii he the candidate Of the Republican
party for The Presidency.
z. Resumption has not settled all financial
difficulties. Questions affecting the business inter
Of country viii be the subject or many
warm political contests. But the final result VIII be
the establishment of National bank simia to that
of Great Britain France but probably called by us by
n different name When that occurs the secretary OF
the Treasury will be stripped Of much OF the power DE
now possesses. ..
s. A foreign war before mary years over Is not
improbable due 10 the weakness OF our Navy and the
unprotected condition Of our rich seaport cities.
g. A new prsilicnCe, or the revival OF an Old one,
winch will affect the people lnhtDtlng thc temperate
zone. is among tie probabilities OF the near iUtue. 49,
10. new motor viii discovered which will
make air CATION possible