The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-01-09
A Healthy Schooling.

IN ~ loi'.
A Healthy Schooling.
The long period of industrial and business
depression through which the country has
passed has been healthy, although severe
schooling to the people. 1t has taught them
caution and economy and the proper estima-
ton of labor and values. The inflated con-
dition of all descriptions of trade and every
species of property which ruled for eight
years, up to 1873. lead the minds of business
men astray and accustomed them to chan
nels of thought and methods of calculation
which had no sure foundation in the laws
of trade. 1t was an era OF insane specula-
ton, reckless in the manner of carrying it
on and as to the results which might follow.
The cause cannot be traced to the currency,
as is Familiarity assumed. We find similar
depression and reyulsion now prevailing in
England and Germany, and we can con.
slider the existing fact without botherins
0tIr minds about the cause therefor. Pc
RODS OF over production and unnatural slim
Va
lowed by severe and ruinous reaction, have
marked the history OF all nations. and will
continue to do so as long as society is or
ganized and the activity and growth of the
intellections Of man note the progress of
civilization.
Now that America has passed the ordeal
OF this abnormal condition of things. and
started lair and square upon solid founda-
ton, it is well enough to present for con-
sideration few practical thoughts and facts.
The realization OF emancipation from the
thraldom OF depression and stagnation may
have the effect to enlven expectations and
encourage hopes not justified by the reason
OF the case. While the special pursuit.
agriculture of our own immediate section
may be somewhat stimulated, it is not reason
able to look forward to any great advance
in the market value OF such productions.
Indeed, We may assume as fact that the
era 81 high prices is past. The completed
channels of intercourse with the new West.
and the almost fabulous production of the
cereals in that region of country, supple
mented by the enormous grain yield OF the
States OF the Pacific slope, must disspate
all calculations for more than living profit
on the staple products of the farm. The
consideration of this fact, however, will lead
to other suggestions affecting the habits and
methods of our people. 1t will impress the
necessity of application in endeavor eau.
ton in expenditure, and diversity in pro-
duction, adjusting both labor and expenses
TO this rational condition of things, regulated
by non fuctuating currency. The fact
must be realized in all of its amplitude and
applications, that we have ''touched bot
tom" and stand upon solid foundation.
and that while the tendency is upward, it
will be in measured steps, and divorced from
the bound of the times Of wild speculation.
Patience and industry are the levers which
are to lift the people up, and not rash leaps
and spasmodic strokes. The feeling of gen.
eral confidence which is making its way
into the avenues of trade, incident to the
glorious consummation of resumption, will
give gradual health and stability to all de.
partments OF enterprise, and WITH the vast
volume OF specie heretofore employed in
speculative pursuits, seeking legitimate EN-
pl0yment and investments, the tone of bust
ness will become more steady, values adj
vance to normal standard, and the diver
sified industries and interests OF the country
grow in steady and assuring proportions.7
The year upon which we have lust entered
is full of promise and hope for honest in
dustry and legitimate enterprises, but not
so inviting for the adventurous Spectator
and sanguine Micawbers. All the business
outgoings and mornings must be schooled
to the recognition of the present financial
policy OF the government, and with that &C.
complished, the adjustment of the results to
the inter ests OF the people viii naturally
follow,
Ii is hardly necessary to discuss at length
Itnf nra 1,y,-. H.