The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-10-28

then than it was in November, 1877, eleven
months before resumption, when 104 Demo-
Gratis voted for the repeal and % against it.
Nearly four-ffths of the Demo-
cratic party, according to its representation in
| Congress, earnestly oppose resumption, even
since specie payments began, because it has
been trained to believe that resumption is
mschievous, and honestly desires imitation, be-
cause it has been taught that more money
is needed ''to emancipate the people from
the tyranny of money kings" These notions
have not been eradicated by sudden change
in the tactics of few party managers. Who
can feel assured that they will not shape leg
islation as soon as the Democratic party has
control"
The signers of this trenchant and timely
paper urge, in calmly forcible language, which
carries conviction with it more surely than
any heated harangue from the stump could
possibly do, these reasons against "a change
at this time:
eve have entered upona period OF hopeful
activity in commerce and industry. Trade
multiplies: manufactures start forward with
vigor labor rejoices in fair wages and full
employment. Yet we have just emerged from
long period of disaster, in which the re-
sources of all were greatly strained and the
reserves of capital greatly exhausted. A year
or two of rebuilding, restoration, and large
Outldy6 lOI Tic dGJuSIllCut vi UuoliICso W uCN
needs, became necessary after a prolonged
prostration. There has not been time, as yet,
for business and industry, in their various
branches to get fully into condition for profita-
BILE work much less has there been time for the
accumulation OF new reserves. Business in
terests are not prepared to bear another Pc
Rod of strain or disaster They have just
begun to thrive. A reaction now, like re-
lapse from fever, would be more dangerous
than the original disorder. In 1889, after one
year of partial recovery from the compare
lively briet prostration of 1887, the country
suffered such relapse, and the terrible con-
sequences will not be forgotten. The business
of this country is not in a condition to en-
dure the enormous strain, the grave anxiety,
and the prolonged uncertainty OF a complete
change offinancial policy
Even ifa Democratic Administration should
disprove, by it's action in office, the charac-
ter which it has earned for itself in opposi-
ton, still the damage in the interim, while
the country was waiting for this reinsurance,
would be immense. Men apprehend danger,
and they would make haste to get out of its
way and this timidity would be sufficient
however much later events might prove it to
have been unfounded, to shake general con-
fidence and check all important business en-
terprises. Investors would wait to see. and
while they were waiting activity would ne
cessarily be partially suspended. Labor would
Suffer while capital hesitated. In conclusion
the ps.per touches the very pith of the peril,
and the oh ief source of the distrust that waits
upon DemoeSatic success, by pointing to the
fact that the South would inevitably become
thereby the controlling Section, ,iee South
has the least stake in national prosperity
Its share in the investments, the COM
merce or the industries of the country is but
feeble fraction OF the grand total. Hence
this weighty body of representative American
tinanciers and merchants declare their convic-
ton that "a transfer of all care of the public
credit to party politically controlled by and
dependent upon the South, will seem to all
the world little less than public proclama-
ton that the people of the United States are
weary of protecting its credit and paying its
debts" A Solid North is wheeling into line
to make it certain that no such proclamation
goes forth.