The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1919-03-14
FiNANCIER TALKS OF VARIOUS
BUSINESS CONDITIONS AT CLOSE OF WAR
His Analysis of After-War Conditions Fit Bing.
ham County Now. Talked for Publication
Last August; True Enough to Reprint
"A PROPHET IN HIS OWN COUNTRY"

Alexander Younie gave us an in.
terview last August on a subject of
what should be done to keep the
country prosperous after the war,
and 1t rings so true at this time, we
reprint it for the good it will do,
and to do honor to the man whose
keen memory and clear analysis,
coupled with his vision Of futures.
Is Of inestimable value to our citi-
zens now.
The matter was brought to our at
tention few days ago in a peculiar
way that is worth relating to our
readers. William A. Reade of 2032
Claybourne avenue, Chicago, wrote
this office a letter on the fourth Of
March relative to the Ludlow Typo
graph, new modern invention that
we have decided to install in the Re-
publican office as a companion piece
to the linotype, and took occasion
to remind us of Mr.. 'Younie's wis
dom by saying, "Mr. Younie was
right, but very few people can take
this long view" For the moment
we lost interest in the typograph and
began looking back to see what it was
that Mr.. Younie had said, thinking
that a man down in Chicago was put
ting one over us to know our fel-
low-townsmen and his savings better
than we did. Here is what Mr..
Younie said about how to keep in
dustries going and keep the country
prosperous after the war:
Mr.. Younie's Prophetic Remarks
Mr.. Younie has led very active
life. Is, a keen observer, has, a good
memory, and has been very success
full In all his undertakings. He is
eighty years of age and is still strong
and is the peer of any man in the
county In his ready grasp Of business
matters, taken unawares or when
they have time for meditation, and
we asked him to tell something about
after the Civil war and
he spoke about as follows:
AT the close of the Civil war
had money and the first
year or so was a period of great ma
terial development and prosperity.
was pushing some enter
prise, building or developing some
thing. The second year things were
not SO brisk; the third year was
worse, and it continued worse until
The panic Of '73. That was brought
on by trying to pay off the war debt
too rapidly. We had fought the war
thru by issuing greenback money
based on the credit of the govern
ment, and when they set about pay
ing this Off too rapidly it reduced
the vitality of the nation just as it
would reduce the vitality of a man
10 drain him Of a large amount of
MS blood, for a nations money is
It's blood.
: "At the close of Napoleons wars,
England was in debt worse than
America is likely to be, per capita,
It the close of this war, and her
eminent men did not think they
,ould ever pay off the public debt.
30 they planned merely to keep the
interest paid up, and by evading the |
greater burden of paying off the
principal they kept up the prosperity |
# the nation, and the increased |
wealth by this prosperous condition
II the nation, made them the great |
lation they have since become. If
hey had levied heavy taxes in the
Ittempt to pay off all the war debt
n a short time to stop the interest
would have brought on stagnation /
" making it impossible to carry on
ordinary enterprises, and the mo-
nent StaQn0tion hapinc and fbo noo
lie at large begin to lose their time
become nproductive-the great
'st possible losses are ushered in.
When the mass Of the people lose
heir time-when they change from |