The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-08-04
The Plea Of Poverty.

ruurspAY, august 4, 1881 |
The Plea Of Poverty.
The publication we make on our first
page, taken from the New York Herald,
giving an estimated amount of comparatively
recent investments in the South, will at
tract attention. We are satisfied that the
figures given are far less than the actual
facts will justify. We take Virginia for in
stance, and there has been largely over
one-ffth OF the amount named placed here.
The completion of the Shenandoah Valley |
Railroad from the extreme northern border |
ts itscentre. and it's progress towards the ex-
IRENE Southern limit; the construction OF
the Richmond and Allegheny Railroad
from tide water to the extreme western |
boundaries Of the Commonwealth the
purchase Of the Norfolk and Western road,
and the recent purchases Of the Atlantic and
Ohio, the erection of furnaces, the pur-
chase OF mineral properties in various por-
lions Of the State, would. If the actual fig
ures could be aseertained, amount to not
less than go, COX, 900. The extensive rail-
road combinations which have been eff
fected in other Southern States, bringing
the patchwork aud disjointed railroad ar
rangements In North Carolina. South Car
olina, Georgia, Louisiana, Tennessee and
Kentucky, under comprehensive manage
ment, and all more or less connected with
the Virginia systems, show that this State
Is indeed the recipient Of many advantages
other than those growing out of invest
ments Immediately within our borders.
This, however, is a mere intimation of
what Ia to be. There are prospective rail-
road enterprises which will penetrate very
affiuent mineral sections, especially in
Southwestern Virginia, opening up some
Of the richest coal fields in the world. Al
most every day we hear Of the sales OF ex-
tensive iron ore tracts in different parts OF
the State to Northern capitalists of fur
mace plants in conte mplation, land number
Of them actually in process OF construction !;
Of the development Of the gold and copper
fields Of Eastern Virginia and in fact, the
prevalence Of fever about the marvellous
resources Of Virginia. Many Of these prop
critics are offered and taken at comparative
~ nominal prices-it may be much more
than they are worth, as they stand and
have stood from the time of their primal
geological formation, but a mere pittance
to their value when associated with capital
and scientific knowledge for their develop
nent. The penetration Of railroads right
through rich mineral sections, and the sale
Of many tracts at such prices as will justify
the expenditure of the necessary means for
their development, argue that these are
the mere preliminary steps to an industrial
era scarcely dreamed of by the most san
guine. Where all the crude elements exist
in close proximity for the manufacture OF
iron and steel where the properties have
been purchased at very low figures. and rail
facilities reaching in every direction, offer
channels of connection with the markets
Of the world, it does not require any great
foresight to discern that the necessary ma
ohinery and appliances for the utilization
of these advantages will be forthcoming.
We are, indeed, entering upon new in
dustrial dispensation, and Virginia is des-
tined to play no unimportont part in it.
We have all the material resources to take
the foremost stand in the march Of i'm
provement and development. In a great
measure public sentiment will aid or retard
II, IS It may sympathize with or not the in.
flexible business principles which control
In the commercial world. As a distin-
guished Northern statesman remarked to us
recently, the plea of poverty in Virginia
should be secuted as unworthy of brave
people, possessing within the limits Of the
Valley alone the wealth of an empire. Nc
people, he remarked, with the certain fu-
ture that awaits Virginia, could afford to
carry the stain OF reputation or the sus-
pieion Of having sought to evade honest
public obligations. Every well informed,
well meaning man must agree with him,
and especially must condemn the attempt
By preconcerted arrangement for political
purposes, to advertise q poverty that does not
exist. The well devised scheme to reduce
the assessed values Of the Comm onwealth,
to justify the plea Of inability to pay, SC
signally failed ia the result desired, that we
can find no one brazen enough to allude to
decreased values or less ability to meet the
States obligations than existed five years
ego. The plan was pre-arranged to reduce
the assessments on real property IS per
cent, and upon this assumption publication
was made Of what the revenues OF the State
would be in lss1-s2. They were placed at
>9,i00.0oO. when there were some s2,sOo. O0c
under the old assessment-carryingo out the
average Of IS per cent. decrease. Notwith-
standing the application Of this rule in the
assessments, values had so multiplied, SO
many new sources of revenue had been
crested aimee 1875, that the aggregate of re-
turns, " ID believed, will be greater than
they were by the previous assessment. and
the. known ability of the State to meet her
obligations largely increased. The calcula-
tions to defraud the creditors by concealing
assets could not keep pace with the rapid
enhancement Of values, and the whole plot
was defeated by sheer inability to cover up
the wealth Of the State.
Virginia has not only received her full
proportion Of the estimated investments in
the Southern States, but she has more rap
Idly improved than any Of the States Of the
South, independent Of this. We may safe
~ assume that the people have never in
their history been in q more prosperous
co0dition-nor so free from individual debi
nor had their properties in better state OF
Improvement, and never had as much sur.
plus means. The plea of poverty is met al
every crossroads by thrift. enterprise ami
prosperity. Travel whore you will through
the Valley. and new barns, new houses. i'm
pssved machinery and stock, and all the In
dieatioas Of increased wealth greet the eye
Money Is drug. both to many individual
aad the banks. Very few want to borrow
and where they do. they determine the rat
aHein terest for themselves. 1t must indees
b1a had manager who will submit to usu