The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-10-03
National Finance.


Several weeks ago we published in full the
speech Of President Hayes before the Aqri-
cultural and Mechanical Fair of Minnesota.
at st. Paul. The facts therein presented
should be closely studied by every Ameri-
can citizen who desires to aid bv his
vote and influence in bringing about nation
al prosperity. 1t is the financial policy Of
the government which has been instrumen.
tai in consummating the cheering results
stated that the greenback theorists would
destroy; and to keep before the people and
impress upon their minds what it is that is
proposed to be reversed. we reproduce in our
editorial columns, in tabular form, the main
Facts and statements of that address.
They constitute the clearest and most
convincing arguments in support Of the
wisdom of the policy that has been pursued
in the management Of the country, and ad-
dress themselves to the approval of the judy
ment and conscience of every good citizen.
To attempt to revolutionize system Of fl
nance which has accomplished so much, NAV
be truthfally characterized as degree OF
wicked recklcssness that is astounding. We
have now under our control the debt of the
nation and have demonstrates! our ability to
meet its obligations. Its principal has been
reduced one-third; the annual interest
reduced one-half by the refunding into
lower rates OF interest; and the taxes re-
duced at the same time s257, 521, 100. 05.
While these splendid results are being
worked out, the productive resources of
the country have been augmenting I'M
til within the past three years, we
have sold in foreign markets, $4SS, 5S2, 536
more than we have bought, and made our
country that much richer; have called home
four fifths of the national debt, the interest
on which will be paid TO our own people in
stead OF to foreign capitalists; American
manufacturers have invaded the markets OF
the old world and controlled them and
every great fact that can enter into the es-
Innate OF national progress, clearly shown to
be in our favor.
We ask Tor the facts presented below the
careful perusal and study of every one into
whose hands this issue OF the VIRaINIAN
may fall. They should be read and re-read,
until impressed unon the mind and That,
loo;c srIln s.,. ord
M 80. ~. -Au ~ i'.oou
-os' 1u'ef estins queselons In public at
"nlen now engage Inc ateentlon OF The peo-
y. VIC oni'eo STATES are those which relate to
Aloial oonution u 'ne country. since the
.". p"nAo a.u oo.apse nVe years ago, capt.
-. .'Do. "uu BUSINESS capaclty nave found
s ..alu " se' plon'apie employment. We have
=, neu ~nas 40 commonly ana properly known as
ualu LILIES IL socn times men naturally ask,
!" 10. o"n De oone now long Is this stagnation
" BUSINESS 10 iast Are there any facts which
.noi.a'e al early return OF better times wish
" ASK your attention Tor fe W minutes while
present some facts and figures which show
progressive Improvement in the financial condi-
- u VIC kenerai government. 1t Will be for |
Fou " consioer what 1nferences may be fairly |
arawn as TO their bearing on the question OF |
revival OF business prosperity throughout the |
country.
THE PUBLIC DEBT REDUCED.
The financial condition of the government of the |
United States is shown by its debt, its receipts |
md expenditures, the currency and the state of |
rade WIN foreign countries. Let us consider the
present state OF the public debt. The ascertained
wv AoaSnou AcS AiSnesI polnI soon after the |