The county record. [volume] (Kingstree, S.C.) 1885-1975, 1919-07-31
After Our Civil War And After
The World War.

:, The World War.
Recalling the after-the-war s1ndi-
tions of the past eight months. IN the
5 light OF which chose which insnedl-
! ately followed cur Civil War- a
Commerce remarks tE;.t while his
tory does nat exactly repeat isSelf,
certainly has a most remarkable way
OF paraileling itself
This fact the writer believes To be
This fact the writer believes to be
due to the common factors of hnm-
! an nature which changes seldom
and slightly" First Of al ne mates
that economic conditions in the Unit
CLOSELY paralleled those OF fifty o.
more years ago" Wholesale prices OF
commodities in general started to
advance rapidly in 1861, and were
/ followed more leisuTelyl by retail
prices The wages of labor followed
these as third in ooder OF successive
increase. This order of advance Was
the usual and na1ural one, and It
was found to have occn'red, not anly
in the United States during We
three or four years of the World
War. but also Gin most modern
countries under like war-condltnnnS.
When the second stage of the
changes wrought is considered, the
illustration. he finds, Gust as perti-
nent as in the earlier stage, or the
lowering of prices after the CIVIL
War" He continues:
"Wholesale prices began slowly to
recedc during April, 1865. Ihs hrst
real signs OF it appeared about the
middle of the month, during the days
that elapsed between the surrender
of Lee to Grant at AppomatoN. va
on April 9, and the surrendet OF D.
f. Johnson to- Sherman near Ourhanc
N. c.. on April 26. These two sur
renders virtually ended hastilltes,
hut the United States Government
did not officially declare the war
ended by the Presidential proclama7
tion of Andrew johnson until April
9 1866. This applied to all the form
er Confederate States except Texas
A. further proclamation on August
20. 1866, declared the war ended In
that State and everywhere In the
United States Thus it will be seen
between the ending of hostilities and
the final legal termination OF the
!; war. It is now eight months, or about
half that time, since the ;.rmlshce
, off last November was, signed, and
the tendency toward change IN
wholesale prices has been much the
same. ~,
"Following the ending of the Civil
War retail prices, which had remain,
ed very high, declined slowly and
gave but little sign of recession un.
writer. m the New York Journai ol
4 til the fall of 1865, and otter TING
/ crops of that year were harVestea
( The downward movement was eA'
a tremely slow in most commoditass
t and hardly reached what might Dt
considered a normal leval until eight
; or ten years later. Most interesting
J, of all, it is to be noted that tht
: wages of labor showed little or NJ
n sign of recession until about 1868
n three years after, the wax hat
It closed"
J. The writer proceeds to recall tha
v it was "the tremendous expansion o
n agriculture production, owing to tn
II rapid settlement of the rich lands o
the Middle West, and the growth o
G. manufactures, due to new Invention
p and greater efficiency OF lndustrlaa
N labor and management, which accel
i crates the lowing of prices durln
the decade following the Civil War.
in He reminds us, therefore, that, !
N tbe present emergency, it can onl
Id be by increased production tina
" there can be effected ga lower cos
i, of living with real solid prosperit
~ on the part of labor, of business j
~ s general, and the consuming publ
We in particular" More of healthy wols
ce and the consequent result IN MOI
N uraduction, he declares to be "th
no. one great cure for unrest, polItica
IS. economic, and intellectual. for unre:
h, in these three fields in inevitably II
IT. terrelated and dependent the or
of upon the other" He gives zone I'M
sh warning" -,
ali all "There is one final warning in tt
$50 historical parallel as menhone
,te above. The Civil War was followe
,re bv speculation, increased expansio
IN of credit, and reckless investmen
90 with special reference to oil, RAJ
ee roads. etc, This also was followed
al. BLACK Friday in 1869, and by tf
on hard times of the succeeding year
elf which culminated in the panic
ole 1873 and the labor troubles OF IL!
lid Fortunately for our immediate II
mt ture, those in present control OF OF
TX banking and financial interests al
&C well aware Of these experiences
bic fifty years ago, and it is to be hope
;th that for its own good the investln
public in general will not forge
Ill what happened at that time. 1t
,er the unthinking person who alway
we pays the penalty after all"
US. ,,.
nd Fashions and Fabrics OF In
~. Globe Tailoring Company, Cinclr
of natl To be displayed by PEOPLE'