The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-08-15
A Present and Pressing DUTY.

fortunate, probably, although there may re-
suit from it temporary uneasiness and In
convenience. The crude notions of the
mission of government and the remedies |
for the ''hard times'' asserted, coming from
those who pretend to be labor-reform lead
ers, may draw the attention OF trained think
els TO the subject, to be followed by healthy
and legitimate legislation in connection
Herewith. 1t may develop the further fact
to the comprehension of many who have not
thought about it, that it lis not the business
OF the government to regulate and control
the private affairs of individuals, and that
they must understand the relations of cause
and effect in order to make judiciousi invest
ments of their energies and accumulations.-
1t will be made clearer to those who desire
to learn, and who are suffering from the in
considerable advice of assumed leaders, that
the governments mission is to furnish a
currency for commercial purposes, solid and
stable in its character, by which values
may be measured, and security thus Of
fered fer legitimate enterprise, and that it
is the individuals business to regulate his
transactions by this standard, and be respon
sible for the degree of wisdom manifested
in adjusting his affairs to it.
The truth, too, will be impressed upon
many that { ach individual is the architect of
mis- own fortune, and that he has no right
to expect special aid from government apart
from a general policy affecting all alike.
The doctrine of free agency is that pecu-
liar to our political system, with the inhe-
rent right in each citizen to carve out his
own material and intellectual destiny-with
the way open for the achievements of appli-
cation and energy, with no insuperable OBJ
stacles to tie consummations of the highest
ambition. The practical recognition of this
great fact is the first step to self-reiant in
dividuality that dares to enter the path of
Grating uniformly Cor ali, especially for none.
Ii success does not follow 1t will not be
the governments fault, but the individuals.
That success will be gagged by the mental bal
ance and energy which govern anddirect, and if
failure should attend it will have to be traced
to the absence of the proper agencies that
have not been invoked. If the labor agita-
tors would set the example of honest, earnest,
well directed endeavor and self-reliance,
instead of inffaming the passions of the
masses with wild notions about government
guardianship. the ills they complain OF
would soon disappear, and the ends they aim
at, without using legitimate means to attain
them, would soon be reached.
So with the agitation about a flood of ir-
redeemable paper money. good will grow out
of it. When the froth of fallacy and pas
sion shall have been dssipated, and the
duplicity of demagogues exposed, the people
will find that wicked delusion has been
praeticed upon them, and that the royal
road to comfort and competency is that
which earns the bread by the sweat of the
brow. 1t is easy enough to pirate about more
money and plenty of it, to be issued by the
government without an equivalent and with
out a basis for its value. The people will
understand that it is now as it has ever been,
and will ever be, money is the price of la
Dor, whether of the hands or the head. and
that it cannot be acquired in the transac-
tions of business, without giving something
for it. If the government would at once
commence the issuing of the volume of cur
rency the greenback tricksters and dema-
gogues are figuring out, not dollar could
be legitimately gotten without its equiva-
lent. If it were to make double the GUAM
tity have now, it would only represent
half what it does now in substantial value,
with its purchasing power no greater than it
is now, and its holder no better off and no
one could possess it without having furnished
an equivalent for it. To swell the currency
beyond the demands Of trade and business,
would be to give fictitious value to the re-
suits of labor, and add nothing to the
wealth of community.
So with the msapplication Of the term
sscontraction !" 1t has no proper relation
to the currency, but has to confidence. 10
more plainly impress this thought upon this
community, we ask each individual to study
the history of the times here. No one will
deny that we have as muchmoney as we have
had since 1S65,yet we do not see the same ac-
tivity in business, the same wild speculation
in everything, which prevailed few years
ago. Why? Confidence has been contracted.
Look around and scrutinize the situation
then and now. Buildings were erected up
on inflated credit-business Of all kinds was
rushed along upon inflated credit. We
thought this was prosperity, but it was hol-
low deception. 1t was cheating honest Ia
Dor. and the collapse which had to come in
obedience to 4 law of trade as we'll as of ma
ture, has too sadly demonstrated this to
many. The red flag of the auctioneer tells
the story more graphically than words can
convey it, and the worthless accounts in the
hands of the toilers relate their expert
ence. 1t was all infiation-a wild, reckless
spirit of adventure. which had attached to
its penalty that is being satisfied.
There was no substantial basis for all this.
1t was inflated credit and confidence, which
held up as long as the delusion lasted, but
hadto contract and disastrously collapse as
soon as it was touched by stern reality. This
only demonstrates that there is no enduring
prosperity without safe and solid basis, and
that all air castles and business balloons
must disappear when measured by the only
standard Of genuine value. Would it not
have been better for honest labor had all
enterprises which employ labor been con-
fined to legitimate methods, and regulated
by substantial values
The popular mind must be impressed with
the truth that inflated credit is not prosper
ity. and that business activity resulting from
an inflated, irredeemable currency would be
cruel deception to the people, working great
harm to all the genuine interests of trade
and the country.
The agitation Of these questions, however,
may have the effect to separate the infla m
matory demagogues and their followers from
the cool, trained and honest thinkers and
their followers. However much partizan
pests may deplore it, the question of finance
is to constitute the great issue in the coun-
ry. until the popul ar mind recognizes and