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About the latest reports of a fall in prices is a definiteness which indicates that at least the peak has been reached and that for some time the price movement will be downward. For five years sellers have had their way. To grow rich all that was needed was for a merchant or manufacturer to stock up and wait for the market to reach a level agreable to him. Sellers having had a good time so long, it is only fair that buyers should now have a little opportunity to enjoy life.
But in many ways it is easier to go up than to go down. The new condition will contain as many elements of demoralization as the old.
It is not improbable there will be an increase of industrial distrubance, Labor, both orgainzed and unorganized, will fight to preserve its new wage scales. It will regard lace of continuity of employment as less of an evil than to work for less per day or hour. Men of business may expect to be harassed by new difficulties.
A sufficient demonstration having been given that good will and mutual forbearance are the only way to soften the bumps and shocks that come from doing business with a dollar of fluctuating value, it is to be hoped that the journey down will be marked by greater harmony than marked by the journey up. You can contribute, to the general welfare by avoiding too hasty judgments based on beliefs that you are especially a victim.
How far will the decline go? Probably about half way to the pre-war price levels. This was what followed the Napoleonic wars and what happened in this country after the Civil War. We shall not have the 50-cent dollar nor the 100-cent dollar, but probably a 75-cent dollar. New York Tribune.
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