The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-09-08
UnfOunded Fears.

he country. They argue, or rather con-
ecture, that because a period of unusual
business activity and apparent prosperity
preceded the panic of 1873, that like re-
'ult is to follow the prospe rous condition Of
he country in 1881. Panics and business
revulsions never come without cause, and
that cause is unsoundness in the basis of
business transactions. Generally speaking
such cause does not exist. There may be
and doubtless is great deal of fiction and
street, and there may be sudden and
hurtfal reaction in them, but it will be con-
fined mostly to the bulls and the bears"
who are never happy unless they are
bors' fortunes. But the business of the
cOnntry-that which reaches into the ru-
raj sections-infiuences the every day life
Of communities generally--is neither
unsound nor doubtful in its basis. The pam
tc Of 1873 was the result of inflated credit,
based upon spirit of wild speculation,
without any reference to the values of the
country. We had passed through a waste
full war, wherein values were destroyed and
not created. A restlessness in the Ameri-
can mind followed the eXcitements and
activities of the period Of hostilities, and this
was introduced into business under the en-
couragement of a redundant currency. Gre
ated and issued for war purposes and not
as the result of the demands of business in
times of peace. The standard of value
which regulates all safe business transac-
tions, was practically ignored, and depre-
ciated currency recognized as the uncertain
measure which guided in business pursuits.
The period of business prostration which
followed the revulsion of 1873, was usefully
appropriated. Economy was observed in
expenditures +; industry in production, and
sagacity in investments. Values were Gre
ated and COMMUNICATIONS were dis
charged the currency was brought to the
standard Of gold, and the foundation thus
laid for resumption of business upon a
safe, solid and encouraging bed. The Dem
ocratic folly and delusion ofsubstituting State
for National Banks were rooted out. Mere
adventures in business, without capital in
money or brains, we're brought to.a level with
honestenterprise,a and showed out of the chan
nels Of trade, where they we're nothing but
clogs or quicksands. Resumption OF specie
payments by the government completed
the necessary reforms for healthy business
and substantial enterprises. For the first
time since the war, 1879 furnished the basis
for legitimate and safe commercial engage
ments and business transactions of ali
kinds. Upon this foundation the country
has builded, as upon rock. and it is righ
here where the diversified business OF the
nation finds its security. Speaking gener
ally, we have no imitation of values. 1t il
only when we refer to the stock gambling
, of the cities that this assertion does no
hold good. These gamblers defy all Du
siness rules-all experience, and like dar
ing, desperate men in all the walks O
life, risk all upon the turn of the die. Their
is always danger with them. They live
in an atmosphere of tumult; of rockies
>
safe.
But in the legitimate circles of trade ant
throughout the peaceful, orderly pursuit
ofindustry,t the country was never in safe
or more assured condition. There is moth
ing to discourage or intimidate, if the pur
pose is to apply well regulated judgmen
and energy in business adventures. wheth
er of the field, the shop, the counting room
or elsewhere. Real values exist as tn
basis. The currency of the country is non
fuctuating-the banking system is ADM
rably adapted to healthy trade-its circula
ton regulated to suit the demands of trade
and always regulated to intercept undu
speculation. The issues are adjustable t.
the wants of business wher
safety and security demand it, and ex
panding as the increasing needs of the coun
try require.
There was never in the history of an
people such an utter absence of well
grounded fears of business revulsion.-
Mere spectators are constantly exp osed t
mishaps and msfortunes, whatever the rea
condition of business, but all legitimate ell
deavors and enterprises have as little to ap
prehend at this, as in any past period Q
this or any other country.
We need only to point to our own com
munity to verify the conclusions we hav
reached. The capital invested in bushes
is greater than it has been for years, o
hob hafa I,r,l hale N
dollars; yet there has never been less O
speculation, less of adventure, than at tn
present time. Everything is guaged by lie
Ultimate business rules and methods, witt
general confidence inspired in the safet,
and solidity of the transactions. Their
has never been greater activity in al
branches of enterprise, and never create
substantial prosperity.
And the assured, steady and rock-ribbe
basis of this prosperity is due to the cour
age and craftsmanship of the Republican
party. Its defence of the national banking
system and its demand for the equalza
ton of paper currency with gold, throug
the act to resume specie payment by tn
kOteIuncut, WHICH, was OppOseu ny
united Democratic party, have given to tn
people this healthy financial ard bushes
aspect, and guards it in public policy tina
addresses itself now to the approval o
all who think more of country than the,
do of party.
We have noticed in several of our Readjus
ter exchanges dirty looking cut of schoo
house, and figure applying what is asserte
to be d torch to it. This is designed to Illus
trate the policy of Maj Daniel towards tn
public schools. As an offset to this, we hav
seen in Funder exchange, cut of schoo
house where mixed schools are presumed t
exist-the teacher colored man, with
white child turned over his knee, to represen
What will be the result Of the success of tn
brazen Re-adjusters. These representions ar
insults to the intelligence of the people, and
scandal upon public decency. They do yer.
well to illustrate the ignorance and bad tast
of those who have conceived them, but will
find no favor with Intelligent people, wh'
are seeking for the truth in this canvass
Should Maj. Daniel be elected, the school
viii not be injured nor their efficiency impair