Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-03-07
SEES SIGN
Of GRE 4 7
PROSPE R|TY
FINE OUTLOOK
Assistant Secretary of Lac
bOr Louis F, Post, Gives
Interview to Senni-Weekk
journal
BY A. E. GELDHOF

greatest period of prosperity.in its
history, in the opinion of Louis
F. Post, assistant secretary of la
Dor, expressed in an interview he
game me in Washington this
week.
First, however, we must wealth
er period of reimbursement that
will test the fiber of the people to
the utmost
"That period may bring suffer
ing; it may bring empty stom-
achs," said Post, "but o-ce it is
tided over. an era Of prosperity
VII follow shat will exceed any
the United States ever had.
Reasons for Prosperity
There are two reasons for my
prediction.
First, historical precedent.
After the Civil war, from 1857 to
1878, this country saw boom
times, the north especially. Pros
perity finally led to speculation,
and speculation increased to such
an extent that prosperity finally
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 in
dustry in the first place. Why
shouldn't there be places for every
one Of them when they return?
Before the war our net immi-
grafton was 100000 a year. It
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 fur
Their restrict immigration in tho
interests of American labor LII
Demand for Labor
"The demand for labor, if il
doesn't become greater than It
was before the war, will at least
absorb all the supply. Unless our
demand for production has per-
manently fallen off, we shall have.
demand for more labor than We
ton increases in the next fe~r
years. The needs of Europe fl
reconstructing herself will prevent
that.
eve face a period Of dislooation
in industry due to the change
from a war to a peace basis. That
period was unavoidable.
Glow long this period will last
cannot say. It may be two
month. or three or four, but
think the country will have read
justod itself before next winter,
"Unquestionably the labor sur
plus is slowly increasing. I have
here the figures for the first three
weeks in February, gathered from
COPS concerns in 1872 different
cities. On February 1 these 1928
firms employed 3,479.875 men; on
February s they employed 3,412.-
944 men, and on February Is the
number had fallen to 3,386,090
From the first to the fifteenth thGS
laid off total Of 93,7S5 men,"
Wages to BE High
"DO you think wages and prices
will come down after readjust-
ment?" I asked.
ri think prices will largely re-
cin 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 re-
mains nigh, so long as, wages
also remain high? The monetary
standard is merely nominal; dol
Ter 50 long as you call it a dollar.
If we called a dozen eggs a dollar,
they'd be dollar.
"The real problem is for each
man to be able to get the equiva
lent of full value for the work he
gives
business men and employers
are overlooking the fact tn?: the
real employer Of laber is the con-
sumer-the laboring man him
self!
Every man who is put to
work, whether it be building a
house, constructing a road or dig
ging a ditch, is employing other
men; men who sell him food and
clothes, ana CneSG IN turn employ
others who manufacture the food
and clothes.
"That's why the labor depart
ment is urging persistently the
opening I'D Of public construction
and road-building to take up the
present slack in the labor mar
ket. These buildings and roads
may not be needed now, and the
cost of building them may he alb
normally 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"
E&EyCx RTsTAUEANTs