The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-10-30
Close Of the Canvass.

Close of the Canvass ~
The debt question has been SO thd khly
discussed in all its phases, during NJ
vass now about to close, that it does kot f5A
quire any inllammatory appeals to 1(m3nd
the people Of their duty. The great mass
Of the people have fully made up their
minds as to the vote they will cast, or
whether they will vote at all. 10 our mind
it has beer clearly demonstrated that the
McCulloch Bill comprehends an equitable
re-adjustment Of the debt, aud places the
amount it assumes to pay, st what the State
justly and honestly owes. We are conf
dent that its operations will produce reye-
nues sufficient TO support the State Govern
ment economically administered, give the
public schools their constitutional allowance
pay the full interest on the public debt, and
leave handsome fnrplus in the treasury.
We have seen no argument or array ct facts
to shake our belief in this conclusion, For
the ten years the three per cent. interest
clause will operate. there will be an aggre-
gate accumulation OF surplus Of So 600, 0OO.
During that period there will be an aggre-
gate saving to the State OF $4,000, 900, by
reason Of tie reduced interest charge. With
quiet and peace restored, and the minds OF
the people directed in tile various channels
of legitimate business, confidence restored,
matter Of dispute and suspicion, and ma
terial resources deve Hoped, under the stimu-
lus OF the activity which now pervades all
| industrial pursuits, at the close Of that pc.
Rod, there will be less difficulty in meeting
tile four per cent. interest. charge than that
encountered in discharging the three per
cent. At the close of the twenty years this
clause will run, While most Of us now con-
cernefabout final settlement Of the qnes-
ton will have squared another and more i'm
portant account, the condition and credit ..of
the State will be such, arguing from present
premises, that the five per cent. interest
charge will be less burden than the three
per cent. is now, even should the debt not
be refunded at lower rate Of interest.
We can see nothing in the present con-
dition Of Virginia, nor anticipate nothing
in its future relations, that does not sustain
the conclusion that the debt as presented
in the Bill can be met by the State, without
any additional burdens upon the people, and
that does not appeal to the common honesty
of the constituent body to accept it. 1t is
just in itself, and the revenues will be ample
to meet its demands. There is therefore no
excuse for controversy about it, We believe
this will be the judgment of the people on
Tuesday next, and that the Legislature
elected will be in full accord with the set.
Element asjnow presented.
The Wheat Market.
In noticing last week the condition Of the
wheat market, and the causes Of the decline
in prices. we attributed it toa glut in the
centres OF trade in Europe, and by reason
thereof, a corresponding glut in the controll-
ing markets OF this country. Large ship
ments had been made to Europe, and there
stood awaiting the demands of the rural
sections to meet the ordinary consumption
by tie people. The immediate demands
were not commensurate with the supply on
Land. nd CONSEQUENTLY the centres of trade
here were affected because oithe di Unfinished
shipment to Europe. Grain, however, con.
tinued to flow into the elevators under the
stimulus of the high prices ruling, and at
one time in Baltimore, it was estimated that
there were from 1900 to $500 cars loaded
with wheat awaiting room in the elevators.
The block was complete, and as storage in
the cars had not been charged for, the spec
ulators, who had run up prices to such fig
ures as to make it unsafe for European deal
Their demands based upon advanced prices in
Europe. At this stage OF the game, Mr.. Gar
rett, President of the Baltimore and ohio
Railroad, interposed in behalf Of legitimate
trade and fixed demurage charge of So
car per day for all cars loaded with wheat
coming into Locust Point after the issue of
the order. Great commotion followed
among wheat spectators, and the telegraph
was busy to the West, counterman ding Or
ders for wheat shipments, until relief of the
| UAOCh0uV NY AIuAVPOaA oulRLuVAtos AAic
caused the decline in prices noticed last
| week. 1t was thought the glut would soon
be relieved, and the current of wheat ship
ment resumed. 1t had very little effect in
Chicago,a as on Saturday prices advanced 2 to
| 81 cents per bushel, and transactions were
quite active.
It will be seen from this statement that
the theory Of the glut we presented last week
is substantially verified.
Up to latest dates the depression in the
wheat market continues, with strong ten
dency to improvement, however, and while
the shipments from the elevators were COM
paratively large, the arrivals were greater,
the result Of orders given before the action
of Mr.. Garrett, and which had not been
cnuniermanded. 1t will take some weeks
yet to settle prices, disturbed by the specu-
lators on the one side and the supply on
hand in Europe on the other. There has
been ne variation in the statement OF the
general supply and demand as given last
week. 1t Is believed that the ascertained
deficiency ia between 0,000. 000 and 5,000,-
600 bushels which will have to be met by
diminished consumption pr substitutes Of
some kind or other, and the indication Nom
day, when there was an advance OF two
cents per bushel, evidences that this fact is
influencing dealers.
Cheating at the Polls Must Stop"
Now that there is split in the Conserva-
tive party and the two factions are bitterly
antagonizirg each other. the truth begins \
to leak out. The Re- adiusters Of Norfolk
who we're active caucus manipuiators in
the Conservative party in times past, openly
declare that Goode was never elected to
Congress. The Richmond Wing reveals
grave suspicious, in the following paragraph.
as to the methods practiced against Repub-
licans heretofore at the polls and in the