The Portland daily press., 1879-04-15
Sinister Prophecies.
Things Good and bad, Principally had,
i'm Store in the Near Future.
IN. Y. Tribune.l

lNs Ls 1IlOuucsl
Mr. David G. .Croly, the late editor.in-chief
OF the Graphic, has ~An alarming reputation
for making pretty accurate predictions Where
they have not happened to turn out accurate
they have not been much noticed. Where they
have been accurate they have deservedly at
attracted good deal of attention. In the
autumn Of 1872 Mr.. Croly published remark
able article, In q short-lived magazine, entitled
"rhe Modern Thinker" wherein he said: 81
predict that within the next two years this
country will experience the worst financial
panic known to its history. 1t will be more
widespread and disastrous than that Of 1857.
All the debts created by our paper money war
will be wiped ost or compromised. Land will
temporarily fall to one-half its present value.
This panic will ba precipitatsd, in all proba-
bility, by the failure of the Northern Pacific
Railroad, and perhaps, Of the banks who man.
age it. This will bring to light such an amsz-
ing amount OF fraud in connection with our
railroads as to discredit 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
A good deal of attention was attracted by
the fact that the Tribune, five days before the
panic, warned the public that 1t was coming.
But what shall be thought OF q magazine
writer who gives the same warning, with pre-
else details, nearly year beforehand Ordi-
narily prophets do not receive much credit. and
especially prophets of evil What Mr.. Croly
has already told, toweven warrants special in
terest, at least, in his present predictions
They were published day or two ago in the
Graphic, and this Is his own summary Of them:
1. The year 1879 will. on the whole, be .
prosperous one for the United States. There
will be general revival Of industry, labor will
be employed and confidence In the future uni-
versally felt. Before the close Of the year
there will be widespread interest in precious
metal mining. A dangerous speculative feel
ing in other industries will soon show itself.
2. There will be partial failure OF crops
| this year. Our hay crop on 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 weakness in our national
banking system may develope during the COM
ing year.
T. 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 will go higher and foreign
goods be sold cheaper. We shall export less
and import more. Unless the "unexpectedn
occurs there will be drain of gold abroad. and
then resumption, as at present established,
must be legislated anew or it will fail.
6. Should the country be prosperous, and
resumption stand until the nation al conventions
I meet in 1880, John Sherman will be the can
didste of the Republican party for the Presi-
dency. -
z. Resumption has not settled all our fiuap-
cial difficulties Questions affecting the brs-
ness interests OF the country will be the snb-
iect Of many warm political contests But the
| final result will be the establishment of q
national bank similar to that of Great Britain
or France but probably called BY as by dffer-
| en-. name. When that occurs the Secretary Of
| the Treasury will be stripped of much Of tho
| power he now possesses.
g. A foreign war before many years are
over is not improbable, due TO the weakness Of
our navy and the unprotected condition of our
| rich seaport towns.
| 9. A new pestilence or the revival of an old
one which will. affect the people inhsbiting the
temperate zone, is among the probabilities OF
the near future.
| 10. A new motor will soon be discovered
| which will make air navigation possible.