The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-04-10
Promises of Prosperity.

The balance OF trade With Europe III Ia
vor OF the United States has drawn the bulk
OF the United States bonds home to meet it..
While the national debt has decreased over
one-third to what it was in 1865. the evil
dences of the remaining debt are held
pretty much by our own people; nearly all
the six per cent. bonds have been called in
and substituted by four per cent. bonds, and
these latter are now being bought by Eng
fish capitalists as the safest investment they
can make. To-day the credit of the United
States is superior to that of any nation
on the globe.
When this gratifying financial condition
is considered in connection with the enter
prise which characterizes the producing in
dustries OF our country, we may contem-
plate the future OF the United States with
Just pride and the most sanguine assur-
ances. American wheat, corn. bacon, NUT
ton and beef are supplanting similar pro-
auctions in England, Scotland, France, Ger
many and Italy. The disadvantages which
attend the tenant system in Great Britain,
make it impossible for the farmers there to
compete with the Independent landed pro-
prietors and workers here, and the result
is fast becoming apparent, that America is
destined to become the supply market for
the greater part of Europe. For several
years past numbers of farmers have aban-
doned the cultivation of the soil in England,
Wales and Scotland, and the proprietors OF
the lands have been preparing them for
stock-raising as likely to meet with less
competition from this country. But it seems
even in this they have to give way, as
American cattle and sheep can be sold
there cheaper than they can be raised. Our
bacon is purchased in England, and sold at
less price than it can be produced there, I'M
der English trade marks. In France, Ger
many and Italy, almost the same extent of
demand is being made for American pro-
ducts-this country furnishing the bread
stuffs and meats for the use OF the inhabi-
tants and the vast standing armies which
are taken from producing pursuits and mar
shalled in the consuming ranks.
These facts point to a growing wealth
for the United States uneNampled in the
past. The industry and enterprise OF the
American farmer are becoming as essential
for Europe as for our own country, and give
assurance that we are entering upon an era
of marvellous prosperity. With our nation
al credit established above that of any 9TH
er government On the globe, our national
debt largely decreased every year, the rate
of interest diminishing with the advance OF
credit, and the products of our fertile soil
furnishing and controlling the markets OF
eastern nations, is illustrated the wonderful
progress of our country. These cheerful
facts open up a rich and pleasing field for
reflection and one well calculated to stimu-
late the pride and anticipations of our peo-
pie, for with our financial policy governed
by the true principle OF finance, securing
to the people safe, reliable currency, Civ
ing stability to business and permanency to
investments, all other interests must feel the
healthy impulse and continue to grow and
develop under the renewed energy and en-
terprise of the people.
Ihe political disturbances in the old coun-
try-the socialists and the nihilists crup-
tions, which are threatening the govern
ments of Germany, Spain, Italy and Rus
STA, and the labor depressions and the indus
trial prostrations that are deranging the
commercial and monetary interests OF Great
Britain, supplemented by the political agi-
fations which are fermenting France and
the unsettled relations OF the East, all con-
splre to the advantage Of the United States
and give promise of not only increasing de-
mands for American products, but of
vast tide OF emigration to this country.
Such is an imperfect outline of the pro-
pitious indications which are presented, and
the promises which should inspire the coun-
try with renewed hope and assurance.