The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-01-31
'erts, that neither virginia nor the soutl. VIM

serta, that neither Virginia nor the soutl, VIM
be benefited by the increase of the crcula-
ting medium, unless we earn something to
sell for it. Did it never Occur to him, how
ever, that there was such thing as increas-
ing production under an increased demand,
and that the revival of the industries of the
country would create that demand? Active
operations on the Southern Pacific Railroad
would stimulate other railroad enterprises.
Then would be started again the silent iron
furnaces and coal mines. Labor would be
earning something, and spending it for the
necessary food and wear of life. The effect
would reach out into all the ramifications of
trade and production, and every class OF IN
dustry would be benefited. The South is
not much concerned about the linaI cial leg
islation now engaging the attention of the
country, except reflectively. What we raise
will command whatever currency is in cir
culation. when there is demand for it, and
the extent of that demand is dependent
upon the industrial enterprises of other Sec
tons. If the capitalist shuts his money up
in banks and bonds withdraws it from the
business pursuits Of life; boards his conf
dence rs he does his shekcls; he becomes
| practically an enemy to labor and society,
| mates the life currents which vitalZe the
varied interests that contribute to the pro-
| gress, growth. prosperity and contentment
of community.
The concluding sentences Of tine commu-
nicatiOn prove most too much for the pur-
pose our correspondent started oft with-to
| lecture us because we cllled attent ion to the
attitude of the two great interests in ques-
ton. Labor is the creator OF ''capi
| tall and it is because capital, after it is
created, prefers to isolate itself from Labor,
and confine itaelf to bnhds and banks, that
much of the disturbance and suffering now
affecting the country is traceable. 1t is to
prevent any ''hostility" between labor and
| capital that legislation is called for. Ii capt.
| tai will demand legislation for the purpose
OF enhancing its values, Will" Labor, Which
created it, is begging for bread, it is Capital
that is forcing ''hostility'' and interpreting
| its power to the harm OF society.
| We might have fond ample reason for
declining the article of -. w. p in the
uncalled-for use of the terms slang whang.'
as applied to the editorial by implication.
But taking it for granted that it was not the
purpose of our correspondents to be disco T.
teous, we have inserted his communicat ion
just as it ca lie to us. We have never made
a study of the wabash denagoeue, as
our correspondent deems proper to denomi-
nate Mr.. Voorhees,, nor of Brick Pomeroy,
knowing very little OF either except from
hearsay. We will remnl ~. W. F." how
ever, that such expressions do not add any
force to argument or attraction to rhetoric,
aud that it is by such epithets that much of
the bad feeling prevailing exists. When the
representatives OF three fourths of the peo-
pie Of the United States in the high legisa
tive tribunal of the U. S. Senate enter their
Judgment upon the journal OF that body, il
will not avail much il Senator Eaton sh ould
call it an attempt to array Capital against
Labor, or that our correspondent should
designate it the result of ''slang whang'' ar
gumcnt. We believe the most healthy and
conservative legislation that the Congress Of
the United States can possibly enact, is that
which will aid in starting the industries OF
the country, giving employment to labor.
millions of the nation. The security OF
| Capital is as much interested in this as re
the requirements of Labor, and the wisest
craftsmanship will be manifested which so
adjusts legislation as to harmonic these in
terests and cause them to work together for
| mutual benefit, and the common good.
The Funders are straining themselves tt
bring influences to bear against readjust
ment Of the State debt. Not only are the
, ring managers active themselves, but they
have secured the cooperation of the relig
lows press of Richmond, and even of the
pulpit, supplemented by the representative
of the bondh0lders in the eastern States
The friends of readjustment will under
: stand this as an indirect method to bull
doze them and tie people Of the State, and
will treat it as such. Failure to readius
the State debt at this session of the Legisla.
ture will bode no good to the creditor or te
the politicians who are urging policy thai
must eventually force reputation. The re-
port Of Mr.. TaliaferrO as to the financial
condition of the State, noticed to-day, will
show how the people have been deceived in
regard to the public debt and its increase by
default in interest. 1t is now over al ,000,.
900, and increasing at the rate of nearly d
million year.
The Dispatch tries to make point gainst