The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-04-21
The Vast financial operations

The Vast FinanclsA OPe1 ae4o
bringing the country rapidly To-
wards a state OF profound solreocy anu i.l'.
perturbable serenity. We canno. suppose
tbs, for years to come there Will DC any
s,,ch thing az panic aud convaision. Tue
nnexampied credit and implicit 'aath IN the
Fedora, Union will prevent ary alarm aso
rene, ANYTHING ike disturbance to unsett'e
~.l,,es and set aioot aaancial agitation.
Such Il the faith that the world seems to
have in the American Republic that as
large as have been the Foreign inyestceenss
In national bonds there is no sign o. any
afiiiag like an approach towards exhaustion
.aof iuvestment. The ~ell-maintained saaa
in Federal credit weuld argue tast Sos :
Government has increased In power 1"a
7 an.dnranee IRON the war and the fasiare oi
tho attempt to. divide it. Therefore we
.honld nj this time believe that in the move
men. Of wealth across the Atiantfc IL %
i prohable that the American nation Wall re-
i eeiye more OF the credit as also OF fhe de-
! posi:s OF Earopean governments ana PEG"
pie than they will OF ours. :.
: avery hopeful sentiment is snculcated.
Asstrref,,v. O. large accumulation OF wea'tn
and credits will be centred III ana ABOUT
the American nation and the dcsernmeht.
There should be plenty Of money ana all
the needed sirews tf commerce ana enter
nrjse. Moreover, there shotla pe 'has
maintenance OF activity in business ana
general occupation that must with ofder
Act nvpPSSpS
keen down irregularities. We taay thhs
an,icipate that ease and abundance when
will not be subjected TO speculative I'M
pulses and sudden and wide changes, when
never fail to produce excess and scarcity ny
.turns, and keen enterprise aud personal oc-
cupations vcxed with misfortune ana rear
full. appreheusions.
It is the condition Of steadiness and the
regularity sof public administration that
cause confidence TO become strong IN the
minds OF the people, aud assure them OF
their security in planning and putting 10
execution enterprises based upon sound
! views and honest industry. This Is the
economy that brings health and hope, and
must in good time dilfuSe both thrift and
conteptment.
We shall not for moment permit the
slightest feeling Of depression to steal into
our minds The benefits flowing from the
general establishment and lively mantle
nance of the unprecedented solVency ana
credit OF the General Government cannot
fail to liItrate into the politics and economy
/, OF the States. The better and more hopeful
state of the national tinances-the immen-
sity aud power OF the nation-the prodGc-
tive sources and irrepressible recuperativc
'energics-must take effect upon the States;
must imbuc them with more lively blood
and produce the hue Of health. and the tine
ture Of hope along with the glow OF youth
and vigor. There will assuredly appear,
amongst the people engaged in commerce
faith and energy; and credit, as we'll pubic
as private, will revive. 4 :. -
That Virginia will take position towards
thefront in putting her house in order. we
cannot doubt. When she does that we may
rest in peace and hope, and before great
while we shall be proud OF her as we once
xrarh and shall see her increasing in wealth
and happiness, and lie honored as she was
In the better days.
The Federal Government has done what
we think is unexampled in the civilized
world, and We believe that the States must
gradually, in a pecuniary sense, be elevated
towards the plane of perfect solvency. We
do not believe that in Republic such as
this there can long exist States without
credit, whose place must be outside OF the
Union, Us it were, being dshonored and
discredited. That must be 4 stain upon the
Union while it lasts, and it is not in the ma
ture OF our political organization that such
a thing shall be allowed to 60 on indeti-
niteIy.