The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-10-09
The Busin ess Boom.


in business activity all over the country
The s'boom" which has marked the trans
actions in iron and breadstuffs is now
reaching to real estate, and, in the cities,
notably in New York, advance is the Or
der, until apprehensions are entertained of
even an extraordinary imitation in prices.
As was remarked by an experienced real
estate dealer in New York, as reported by
the Times few days ago, ''the last thing
up in prosperous times and the first thing
down in times of adversely" was real es-
tate; and now that this kind of property is
experiencing unusual activity both in
building and exchange, we may reasonably
conclude that the times of depression are
now certainly past, and new life and enter
prise will be impaired to all enterprise and
business endeavor.
The healthy advance in wheat, the staple
production of our own section of coun-
try, is having its effect upon business
feeling, and instead of doubt and dis
trust, confidence is gradually working its
way into the calculations and expressions
OF all classes of citizens. When the farmer
realizes remuneratiYe price for his invest
ment and labor, fresh stimulus is given to
all other industries. His own operations
manifest the effects, for with his labor re-
warded, he feels disposed to liberalize his
transactions with others, and thus every
interest is touched and moved by the in
spring influence. For months past we
have contended. basing our conclusion upon
a careful study of the supply and demand
of the world, that wheat should at least
reach 1.20 or 1925 per bushel in this market,
rs the price which would give a fair re turn
and profit to the producer. And while the
result has been somewhat delayed by the
operations and manipulations of the 'sbulls''
and 'bears" in the grain centres, the facts
had eventually to work out their own con-
illusions and break down all artificial bar
fiers. The demands of Europe had to be
met by the supply OF America, in most
part, and no devices or tricks of spectators
could long keep this fact from the general
becoming possessed of this knowledge,
and calmly studying the relations of supply
and demand, had their own nerves strength
ened and minds convinced. Consequently
they have held to their possessions with
steady hand, wherever necessity did not
compel them to part with them, and now
they may reap the fruits of their tenacity
in the prices ruling at this writing. What
a day may bring forth we cannot tell, when
spirit of speculation has been let loose,
and while the indications are that still
further advances will be realized, we do
not think it safe to trust to that. The sup
ply and demand of grain products are too
nearly balanced, from the most reliable
estimates we have seen, toindulge sanguine
expectations of continued advance. Pres
ent prices are legitimate-they are the re-
suit of rational causes. Further advances
may be reasonably assigned to spirit of
speculation, with its fluctuations and I'M
certainties. Prudence, therefore, would
dictate, if the producers themselves do not
want to become spectators and run the
risk of reactions, that they should dispose
of their surplus, and thus be certain of
fair return for their investments and la
Dor. We give this merely as our own judg-
ment, leaving all others to act upon their
own conclusions.
With the assured facts we have before us
for our guidance, relating to the iron and
farming interests-the two most substan-
tial interests of our Countrywide one fur
nishing employment to labor and the other
the food upon which labor subs;sts-it is
not unnatural to conclude that the real
estate interests in the rural sections must
soon feel the activity that now prevails in
the larger cities. Indeed, if all experience
is not to be reversed, we may safely as
sumo that marked advance will be real
lied in theprices of all kinds of real prop
erty and that an era Of unexampled pros
perlty and business activity is approaching
and will be upon us in the near future
With fair and remunerative prices for farm
products, farm lands must become in great
er demand this will naturally cause an
advance in prices, as the saleable estimate
for property of this kind has, for years,
corresponded with the depressed prices for
farm products. Activity in one branch of
trade will have its effect upon others bear
ing a close relation to it, and this rule holds
good with farm products and lands as in all
other pursuits.
The indications, indeed, are all propi-
tious for several years of uninterrupted
prosperity. What must be guarded against
is condition of imitation and speculation,
which, we may rest assured, will bring the
results of reaction and depression. eau
tion and clear head and a steady nerve,
are what every man stands in need of now,
and with these controlling the most en-
couraging prospect is before lis.