The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-03-20
Cheerful PROSPECTS,.

lULeTeStS anu TeUuhe Oh Those WHO are so Ia =
gravity betraying public trust.
Cheerful Prospects.
We alluded last week to the improved
condition of the iron market, and the cheer
full feeling which prevails among iron men
all over the country. As that interest is
one of the standard and most prominent OF
the Industries in the United States, and to
greater degree than any other indicates the
tone of developed business, we revert to it
this week, with additional evidences of the
activity and confidence which have taken
possession of those directly connected with
practical operations in this line. In CONVEX
sation, several days ago, with a gentleman
of large experience in the iron business, land
now associated with an enterprise of extern
sive proportions in this section OF country,
we were much interested and edited as to
future prospects. He had recently visited
the iron localities Of Ohio and Kentucky,
and when we saw him, had just returned
from the East. He spoke In the most cheer
full tone of the indications, not with the ex
pectation that there would be any great ad
vance in the prices, but the assurance of
large and increasing demands, with some
increase in the selling rate. Wherever he
had gone and conversed with iron men,
whether in the West or East, the same uni
form expression of confidence was given, and
the same encouraging outlook for the future
was portrayed.
Remarking upon the iron interests of this
immediate section, he said that there could
be no competition with Virginia, as advan-
tages were possessed here that did not exist
elsewhere. Iron, he claimed, could be made
as cheap along the Chesapeake and Ohio
Railroad, as it could be manufactured in
Alabama. heretofore regarded as the less
expensive seat of this industry, of equal
good quality, and having the advantage
here of being two or three hundred miles
nearer Misunderstanding the Virginia fur
naces the cost Of that transportation as
margin. The rich ores of the Virginia
mines enabled the operatives to make a
stronger and better iron than at the Ohio
furnaces, thus procuring for them a read
Ter sale at better prices. He claimed that
even at present prices the Virginia furnaces
could well afford to continue operations, and
enlarge their facilities, as the demand was
increasing at healthy rate, and the market
growing steadier and stronger. He did not
anticipate any great excitement or rapid rise
IN, III %lot l.,
should be the case, for such condition would
necessarily be followed by reaction SOON
er or later. What the trade wanted and
would manage to retain, was steady demand
and prices at fairly remunerative rates, and
this they would have without doubt. Nearly
all the suspended furnaces are preparing to
resume operations. and where such was the
fact, with disadvantage as to access to ores,
it followed that the Virginia furnaces. with
the ores and coal and coke in immediate
proximity, could probably continue active
operations upon an enlarged scale, and defy
competition.
The sentiment of iron men throughout
the country is fast crystalizing upon the fact
that Virginia is to be the iron centre of the
country. Ofcou1se where investments have
already been made in other States in iron
property, it will be policy to keep it alive
although the profits may be only nominal.
But when capital is seeking investment in
this interest, it will. be directed to localities
where iron can he made the cheapest, trans.
portation taken into consideration as an i'm
portant element in the operations. When
all the facts, advantages and disadvantages
are weighed, the general judgment is ex-
pressed that Virginia and West Virginia pre-
sent a field that hasano competitor, and
must, as matter of business sagacty.
draw the bulk of the capital which is in the
near future, destined to seek this kind Of
enterprise.
The suspicious promise here indicated, is
one of the results of the financial integrity
of the government as evidenced in the re-
markable success of resumption and return
to substantial methods of business, resting
upon safe, stable and enduring basis. 1t
gives assurance of material development to
1oiOW buC PIOSlCoo VI IilO NdtlOuo loiAo"N
improvements which the increase in the de-
mand for iron indicates, and the employ
ment of much of the idle, yet willing labor,
which has been suffering so much during
the extraordinary season of business pros
tration through which we have passed.
The indications from all portions of the
country are well calculated to inspire the
broadcast confidence in and give encourage
ment to honest industry. If only the polit-
ical agitators could be taught lesson by a
rebuke from their masters, the people, and
the thoughts and energies Of the great mass
of our citizens be left free to engage with
the business interests of life, new birth
would be given to the nation, and bright
and inviting future dawn upon the country.