The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1879-04-18
Coming Events.
New York 1,ribune Msrch so.,,


MIR. David G. Croly, the late editor-in-
chief OF the Graphie, has an alarming repu-
tation for making pretty accurate predic.
tlons. Where they have not happened to
turn out accurate, they have not been much
noticed. Where they have been accurate
they have dssevedly attracted good deal
Of attention.
In the autumn Of 1872 Mr.. Croly pub
ilshed remarkable article, in a short-];ved
magazine, entitled "The Modern Thinker y
wherein ne said: "I predict that within
the next two years this country will expert
ence the worst financial panic known to its
history. 1t will be more widespread and
disastrous than that of 1887. All the debts
created by our paper money war will be
wiped out or compromised. Land will tenn
porariiy fall to one-half its present value.
Ihis panic will be preclpltated, in all proh.
ability, by the failure of the Northern Pa
cinc Railroad. and, perhaps, of the banks
winch manage it. This will bring to light
such an amazing amount of fraud in con-
nection with our railroads as to dlscredit
all stock, good and bad. The men of most
repute In business circles and on the street
Will prove to be common cheats"
A good deal of attention was attracted hv
the fact that the Tribune, five days before
the panic, warned thu public that it was
coming. But what shall be thought of a
magazine writer who gives the same warn
ing with precise details, nearly a year be-
forehand' Ordinarily prophets do not re-
ceive much credit. and especially prophets
OF evil. What Mr.. Croly has already told.
however, warrants special attention, at
least, in his present predictions. They
were published a day or-two age in the
Graphic, and this is his own summary of
them: ..-..
1. The year 1879 will, on the whole, be a
prosperous one foI the United States. There
will De general revival of industry, labor
will be employed and confidence in the fu-
ture universally felt. Before the close of
the year there will be widespread interest
in precious metal mining. A dangerous
speculative feeling in other industries will
soon show itself.
.. There will be partial failure of crops
this year. Our hays crop OF the Atlantic
slope will be short.
3. At least two important failures of
Wall street magnates will take place this
year. They will be of persons with whose
names every one is familiar.
4. An unsuspected weakn sss 10 oar Ma
tlonal banking system may be developed
during the coming year.
D. The disproportion between our exports
and imports, such as we have witnessed
for the past two years, will come to an end
before 1881. Home prices VIII 60 higher
and foreign goods be sold cheap r. We
shall export less and import more. Unless
the unexpected" y" occurs there will be a
drain of gold abroad, and then re, mption,
as at present established, must be legis-
lated upon anew or it will fail.
6. Should the country be prosperous and
resumption stand until the national conven.
ventions meet in 1880, John Shel man will
be the candidate Of t,e Republican party
for the Presidency.
Z. Resumption has not settled all our fl
nancial difficulties. Questions affecting the
business interests Of the country will be the
subject of many warm political conre ,ts.
But the final result will be the establish
ment Of National bank similar to that of
Great Britain or Franc, out probably cal
led by us by different name. When that
occurs the Sc ,retary of the Trea sury will
be stripped of much of the power he now
possesses.
8. A foreign war before many years are
over is not improbs ble, due to the weakness
of our navy and the unprotected condition
OF on rich seaport cities.
8. A new pestilence, or the revival of an
old one, which will affect the people inhab-
iting the temperate zone, is among the
probabilities of tn, near future.
10. a new motor will soon be discovered
which will make air navigation quite posi-
hle