The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1919-03-15
POST PREDICTS
BUSINESS BOOM
BEFORE WINTER

washington, MdTCH 4t-bGLOTe next
winters snow flies, this country will
perity in its history. in the opinion of
Louis f. Post, assistant secretary OF
labor. expressed in an interview he
gave me today.
First, however, we must weather a
period of readjustment that will test
the fiber of the people to the utmost
THAT period may bring suffering
it may bring empty stomachs," said
Post, "but once 1t is tided over, an era
Of prosperity will follow that will ex-
coed any the United States ever had.
Two Reasons For Il.
There are two reasons for my pre-
diction.
First, historical precedent. After
the Civil war. from 1867 to 1873, this
country saw boom times, the north es-
pecially. Prosperity finally led to
speculation and speculation increased
to such an extent that prosperity fin
ally collapsed. Booming times natur-
ally create the impression they will
last forever: that is one error we must
avoid after this war.
my second reason is economic and
based on the fact that all the soldiers
who are coming back into industry
were taken out Of industry in the first
place. Why shouldn't there be places
for every one Of them when they re-
turn?
Before the war our net immigra-
ton was 100000. a year. 1t has fallen
off to nothing. This lack has been
partly offset by the advent of women
in industry, but not entirely offset.
Congress is dealing with legislation to
further restrict immigration in the in
terests Of American labor.
Demand for Labor Will Absorb Supply
THE demand for labor, if it doesn't
become greater than 1t was before the
war. will at least absorb all the sup
ply. Unless our demand for produc-
ton has permanently fallen off, we
shall have a demand for more labor
than we ever had before-unless i'm
migration increases in the next few
years. The needs Of Europe in re-
constructing herself will prevent that
I'VE face a period Of dislocation in
industry, due to the change from a
war to a peace basis. That period was
unavoidable.
How long this period will last can
not say. It may be two months, or
three or four, but I think the country
will have readjusted itself before next
winter.
Prices and Wages to Remain High.
do you think wages and prices will
come down after REIMBURSEMENT? .
asked.
Il think prices will largely remain
stationary" Post replied. They
stayed up after the Civil war for
number of years
After all. what difference does it
make IL the cost of living remains
high. so long as wages also remain
high? The monetary standard is
merely nominal; a dollar is only a
dollar. If we called a dozen eggs q
dollar. they'd be dollar.
1.-THE real problem is for each man
to be able to get the equivalent of full
value for the work he gives.
Business men and employers are
overlooking the fact that the real en-
ployer Of labor is the consumer--the
laboring man himself!
Every man who is put to work.
whether it be building house, con-
structing a road or digging ditch, is
employing other men; men who sell
him food and clothes, and these in turn
employ others who manufacture the
food and clothes.
That's why the labor department is
urging persistently the opening up of
public construction and road-building
to take up the present slack in the la
Dor market. These buildings and roads
may not be needed now, and the cost
Of building them may be abnormally
high but they will give employment to
thousands Of men who in turn will
give employment to thousands OF
others, and thus the country will be
saved from hunger next summer"