Evening journal., 1918-11-29
BY The United Press.

Dl lnt fIttSs
NEW YORK, Nov. 29.-Peace VIII not
bring panic.
Financial experts here are confident
VI this.
Undoubtedly. prices OF food, clothing
pnd most other commodities will drop,
bnd there VIII be some friction between
labor and capital, due 10 sudden in
grease in the available supply Of labor.
But these conditions will not lead to
bard times or financial panic, flnanciers
Jay.
Conditions Immediately following the
rivil War are pointed TO in corrobora-
tion Of this belief.
Although wholesale prices fell or
more than 30 per cent. between January
| and July 4. 1865, there were remarka-
bly, few business failures. During the
sntire year 1866 there weer but 500 fail
1res, as compared with $500 in 1861.
The first decline in prices Of COM
modities is expected TO be shown in
Wholesale markets. Most retail mer-
chants already have anticipated this de-
cline, and are keeping on hand only the
lightest possible stocks. When prices
begin TO drop, buying activity will be
resumed, and the increased buying will
tend 10 stabilize the markets.
Merchants who stocked up heavily
at wartime prices may flnd themselves
with stocks that must be sold in a de-
pining market, but the coming OF the
has been so long foreseen that few mer-
chants have placed themselves In this
position. Even those Of poor judgment,
who would have been willing 10 stock
up heavily, have been prevented from
doing so in most cases by government
regulation OF manufacturing. The mer-
chant who wanted a heavy and COM
plete stock OF goods found that II would
be impossible 10 lay 10 In until after
the war, as factories had been turned
over TO war work, and manufacture OF
peacetime commodlties strictly restrict
ed These restrictions win prove a
blessing TO many merchants now, or in
The near future.
There will be an enormous increase
in manufacturing Of peace goods as
soon as factories can be turned 10 their
old work, and the thousands OF war
work factories built during the last two
years can get started on constructive
instead OF destructive industry. There
will be plenty OF labor TO run tho fac
tories Of the world when the 50,000000
men who have been carrying on the
business Of war return TO the business
OF peace.
But there will be a vistly increased
demand for the products Of the Iac-
tories.
A starving population does not fur
nish much business for factories. Many
millions OF people have been starving
or near starvation during the last three
or four years. Whatever arrangements
are 70 be made by the statesmen, II Is
certain that these people WIN quit
starving. They viii insist upon II.
Generally speaking, everybody not In
the fighting forces has been economiz-
ing. Clothing is pretty well worn out.
and much new furniture is needed. Buy
ing that has been curtailed during the
We "''n ha resumed as soon as war
time prices moderate a little.
Financiers agree that conflict between
cap.ta4, lOn0Wing return OF the soldiers,
would precipitate many unfortunate
conditions, and are urging a liberal at
titude upon both employers and en-
ployes in the matter OF readiustment.
Labor has gained much in the United
States since war began, and unions are
recognized In many factories where
they were not recognized before the
war. This ground Of union advance
ment labor leaders are sworn to hold.
II employers try 20 take advantage OF
The more plentifully supplied labor mar
ket by repudiating their new and per-
hans enforced attitude toward organized
abor, widespread trouble is envitable,
saV those VINO are auA.Ous llaL ~ =