The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1879-04-19

Mr. David c. Croly, the editorln-chlet OF
| the Gluphtc, has an alarming reputation iol
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 dcservcdly
ATTRACTED Il good deal OF attention. In The au-
tumu OF 1871 Mr.. Croly published rcmarka-
bic article in a short-livcd 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 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 temporarily fall to one-halt its present
value This panic Will be prccipitatcd in all
probability, by the failure of the Northern
Pacific Railroad, and, perhaps, OF the banks
that manage 1t. This will bring to light such
an amazing amount of fraud in connection
with our railroads, as to discredi all stocks
good and bad The bears will hold high car
nival. The men Of most reputc i'll business,
aud on the street will prove to be common
cheats"
4 good deal of attention was attracted by
the fact that the I'ribUIte five days before the
panic, warned the public that it was coming;
but what shall be thought of the magazine
=
else details, nearly two years beforehand?
Ordinarily prophets do not receive much
credit, especially prophets of evil. What Mr..
Croly has already told, however, warrants spc-
cial interest at least in his present predictions,
They were published day or two ago i'll the
Graphic and this is his own summary OF
them:
/. The year 1879 will, ON the whole, be u
prosperous one for the United Statcs. There
will be general revival of industry, labor
will be employed and confidence in the future
universally felt Before the close Of the year
there will he widespread interest in precious
metal mining. y dangerous speculative leci-
ing in other industries will soon show itself
=. There will be partial failure Of crops
this year. Our hay crop on the Atlantic slope
will be short.
g. At least two important failures Of Wall
street magnatcs will take place this year. They
will be of persons with whose names everyone
is familiar.
4. An unsuspectcd weakness in our ma,
tional banking system may be developed du-
ring the coming year.
). The diSproporton between our exports
and imports such rs We have witnessed for
the past two years will come to IN end before
1891 Home prices will go higher and foreign
goods be sold cheaper We VIII export less
anu import llDIt. bHltSN tllt uIltNl''N''t
occurs, there will be drain of gold abroad,
and then resumption rs at present established
must be lcgislatcd upon anew or il Will fail.
e. Should the country be prosperous and
resumption stand until 1880, John sherman
will he the candidate OF the Republican party
for the Presidency.
:, Resumption has not settled all our tnan'
cial difficulties. Questions affecting the bust
ness interests OF our country will be the sub
iccts Of many warm political contests. But
the final result will bc the establishment of
national bank similar to that OF Great Britain
or France, but probably called byu by Il diff
tcrcnt name When that occurs the Secretary
of the Treasury Will be stripped ct much OF the
power he now possesses.
8 \ foreign war before many years arc
over i, not improbable, due to the weakness
of our navy, and the unprotected condition OF
our rich seaport cities.
8 \ new pcstilence, or the revival OF an
old one. which VIII affect the people inhabit-
ing the temperate zone, is among the probabl-
tiles of the near future.
10. \ new motor will soon be discovered
which will make air navigation possible y.
J. TrijVDs