Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1878-03-05
,ress their per diem of eight dollars and

Ind the credit OF the Government was
70 low that it had to give specific
pledge of the proceeds of the public
ands as security for loan Of $4,000 900.
The tariff of 1912 acted like the rod of
Moses on the rock in the desert. 1t
caused streams of revenue, and credit,
and confidence, to gush forth, and in a
few years the business of the country
was re-established On a firm basis.
From 1913 to 1857, there was compare
tive prosperity. In the year 1857, there
was slight back-set, but, as it arose
from transient causes, it soon passed
away.
In 1861, the civil war commenced
The South soon became flooded with
Confederate Treasury notes and bonds,
and the North with greenbacks. Both
depreciated-th fluctuations
of value keeping pace with the probable
results of the war. The initiation of the
currency again begat, in both sections,
a. wild spirit of speculation. Prices of
property went up as money went doa0n.
The people went into a regular system
of gambling. The two sections were
engaged in colossal game of war. What
were called contracts were substantially
Uagers on the issue of the conflict of
arms!
The events of that period are, how
ever, too fresh in the memory Of our
readers to require further notice at our
hands. Suffice it to say, that when the
end came, thousands-nay hundreds OF
thousands-of debtors were ruined.
Reconstruction" with all its enormi-
ties, and usurpations, and expressions,
tended still farther to. paralyze the ener-
gies of the Southern people and add to
their misfortunes.
At length in 1S69-thanks to Gen.
Grant, who was the friend of Virginia
on that occasion-Virginia regained, in
some degree, the control of her own af-
fairs. Since that day, we have been
gradually improving our condition. 1t
is true that thousands have been obliged
to succumb to the pressure. 4 general
settlement OF the old gambling debts
was required. Our courts of law and
chancery were crowded with suits. The
sheriffs were busy in the land, and the
hammer of the auetioneer crushed,
as it were, many aching hearts. Old
men and young, women and children,
were obliged to surrender the home
steads of their fathers, and go forth to
seek livelihood with hardly clothing
to protect them from the inclemency OF
the weather.
But thanks to a kind Providence,
these distressing scenes have, in great
measure, passed away. Men who were
at first stunned by their misfortuEes,
have, by degrees, recovered their equa-
nimity. Stout hearts and strong arms
are doing their appropriate offices. In
dustry and thrift are taking the place OF
idleness and pondency and we cannot
close our eyes to the fact that the coEdi-
ton of the people is being improved.
Old things have passed away, and soon
all things will become new. AS the
causes which have produced the last re.
vulsion were more widespread and
deep-seated than any heretofore known
in our history, the period necessary fol
a recovery from its effects was proper
tionably longer. We have now passed
through thirteen years of unprecedented
affiictlon. But light is beginning to
dawn, and we venture to predict, thai
before the close of the present year
the symptoms Of reviving prosperity
will be patent to all. There is too much
manly spirit and indomitabie energy in
our people to yield to the difficulties in
their path. The worst is over. The
day of reviying prosperity and activity
is at hand. At three different periods
of our history similar difficulties have
beset the generations which preceded
US, and we should be degenerate sons O.
worthy sires if we yielded to the pres
sure.
AS we stated in the beginning of this
article, the difficulties which we have
to encounter are not insurnountable.-
All that is necessary is to re-estabGst
the proper relations between labor anc
capital There is plenty of money il
| the country. There is also an abun
dance of labor. But the capital lies idle
and the labor is unemployed. Why il
this? It is for the want OF mutual con
fidence. Strikes on the part of laborers
will not accomplish this end. No kline
of force will effect it. Efforts in tha
direction will only tend to make capt.
taiists more timid about investments, i
it does not cause them to remove it tt
places where it will be more secure.
Confidence is the offspring of goot
faith. Honesty and fair dealing inspire
trust and good will. Lord Chatham
| said, Confidence is plant Of SLOW
growth" This may be true, but integ
rity and fairness-a strict adherence tt
the precepts OF morality and our holy
religion-will compel confidence.
Let US .then do, SIS did our fs&heFs be
| fore us. Let us "render unto Ceesaf tn
things that are Cesar's." Let us de
| termine to ''owc no man anything" saw
coed will! Let US practice industry
temperance, and frugaiity. let us "b
just and fear not" and we may safely
leave our future In the hands of kline
Providence. Our fathers conquered
every difficulty. Why may act we d'
| the same?
Every revulsion that we have expert
enced has been the result of unwise, bu
sometimes inevitable imitation. w,
have now gone through the process o
contraction. and things will soon RICH
themselves.
The revenue officers an Tennessee have
lately destroyed fourteen illicit stills ant