The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1877-03-15
Stocks and Real Estate

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Aduertsser:
DEAR SIR:-The great decline In railroad
stocks, bonds, and othe- securities, to say
nothing Of saving banks that have failed, has
unsettled the public mind to such an extent
that to-day people ask themselves, if they
have any money, what shall I put it in to
save it, or leave something for my family in
case die? For the last two years holders OF
real estate, and those who were investing in
real estate, have been looked upon as fools:
| Within the last three months this opinion
has changed to such an extent that to-day
there is no first class architect but is overrun
with work, making plans for new buildings.
! To-day, in conversation with one of the first
architects, he told me that they were at work
on over fifty buildings, and had never been
run down with SO much work. The reasons
given were: First, people think lots are now
| low; second. they can build for less than at
| any time in fifteen years. But the principal
| reason is, the people who have got money
have lost all confidence in stocks of any kind,
and say il we put our money in real estate
the same as we would put in stocks-viz., pay
for tive know we have got something and
II it does not pay us ten per cent, like the
New Jersey Central, Delaware and I4acka-
wanna, Reading, and Delaware and Hudson
Canal, it certainly is better to leave to a wi
dow and orphans.
This is the state Of affairs to-day, and will
continue. Persons who had faith in the
stocks twelve months ago now say, l do not
see anything is as safe as real estate, where
man is his own president, cashier, secre-
tary. and board of directors, and in case of
death his wife and children take control. If
the Astors, Goelets, and Lorillards, and other
large holders OF real estate were asked to in
vest in stocks to-day instead of real estate,
q nj rio biplr do
it? Stocks have had their day for the pres
ent, and from this time forward real estate
will take the position it should have-viz.,
the only thing outside of Government securi-
ties as an investment, the same as it does In
England. As the English say, give us con-
soils or real estate, none of your blarsted
companies, for fellow never knows where
he is until the stock is gone to the devil, and
then he remembers thirty years ago the Gov
ernor said, My son, never invest in anything
but consols or real estate, and you will never
regret it, instead Of trying to make more in
outside stocks and bonds. OLD ENGLISH.
The above article was handed US by prac-
tical business man of this city, with the re-
mark that now the political complications of
the country had been safely adjusted, it was
time that the people were turning their at
tention to the every day business concerns
of community, and that the wisdom of the
suggestions contained in the paragraph |
should be impressed upon the people. We
agree with him fully, and are sure all practi-
cal citizens will do the same. The remarks
of cold English apply with force here.
We know that real estate was never more |
reasonable in price-we know that our me-
chanics are not fully employed, and we know
that stocks generally is selfish investment.
OF course, banks are necessary concomitants
and agents of community, and should be
established. But there is no necessity or
public policy in seeking investments in such
stocks, and in bonds and other securities,
exclusively, to the neglect of those improve
ments wherein the mechanic and laboring
man finds his source of living.
Now that the turmoil and strife of parti-
Fan warfare have subsidized, and the better
Judgment and kindlier feeling of the people
assert supremacy, the mind will be diverted
lway from the excitements incident to i'm
)ortant political contests, to the more "a
ional and practical concerns of business. If
'ur men OF capital will examine the practical
wisdom Of ''Old Engllsh's" suggestions,
hey will find that they apply here as well as
n New York, and that their adoption will
york out the most beneficent results, giving
heer and activity to mechanical and indus |
rial enterprises. and diffqsing their results $
throughout all branches Of trade. A begin
ing is all that is wanting. With our me-
hapical industries in active operation, CAPT :
Il will become lively and busy, and be d. :
erted to manufacturing pursuits, for which :
rginia, and especially tie Valley, Is peeu
arly adapted. With the energies OF the
eopIe pointed to these healthy engagements,
e may soon see changed condition in our v
nancial and business affairs, and all things {
orking together for the good of the con- Il
fluent element. C