The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-08-10
A Cheerful Prospect.

Jnited states the prospect Oh ABUNDANT |
,orn. oats and grass crops throughout the |
States and Territories, give promise Of year
prosperity and business &C
'ivity. Especially must favorable results flow
from these bountiful favors Of nature, when
the shortage in the crops OF Europe Is
taken into consideration and the prospec-
tive demand for our surplus. Already we
find that q feeling of confidence is moving
business enterprises, regulating the stock
market and directing Investments. The
unrest in Europe, the limited channels for
profitable adventure and especially the
diseouraging promise of all agricultural en-
deavors there, must have the effect to draw
to this country much Of the surplus wealth
of the old country to be appropriated to
the various enterprises which present them
selves in the United States. The rapid re-
funding Of the United states debt into low
interest bearing bonds, must contribute its
share in inducing capital to embark In ma
terial industries where the expectation will
be greater, II the realization should be
less. These Influences all point to an era
of unexampled business activity-to the
construction of railroads, the development
Of minerals, the establishment Of furnaces
and other industries, and busy period In
all the material, commercial and manufac-
turing branches of trade. The depression
10 values, the paralysis in business and the
stagnation In all business activities. which
followed the collapse Of 1873 we're salu-
tory schooling to the country. 1t enforced
economy in expenditures, trained to cir
cumspectiOn In Investments. and calm re-
lection and calculation In every kind OF
venture. Instead Of the reckless specula-
ton which prevailed in the years preceding
of unlimited credit and abundant conf
dence, feeling Of distrust prevailed. re-
sulting 10 closer attention to the minute de-
tails Of business, discharging OF debts, and
the accumulation Of assets. Values were
thus created and supplemented by return
to specie payment by the government, the
foundation was laid for the substantial and
enduring prosperity which has attended the
country since that gloomy time. The short
age In the crops Of 1881. coming SO shortly
after the experience Of 1878 to 1875 and
| '76, had the effect to make capital cautious,
restrain Investments, depreciate stocks and
drive capital into government securi-
ties. Capitalists stood suspended between
hope and fear, hesitating In their move
ments and scrutinizing every phase OF the
markets, the crops and the activities In ma
terial enterprises. They seemed TO bank
upon the crops Of 1882. and now that the
volume Of the garnered grain Is beyond the
most sanguine expectations. and the assur-
ance OF created wealth tang,bly realized, a
disposition Is man ifested to once more en-
bark in business activities, reach out Tor the
hidden wealth Of mines, and give loose rein
to the pent up energies Of our progressive
people. IAN intervie~ with Rufus Hatch, I"
says a contemporary, published in recent
number OF the Boston Post, ought to make
great many chronic grumblers feel that
their occupation Is gone for the while, and
confirm the hopes OF the cheerful. Mir.
Hatch is q veteran observer, OF long expe-
rience, who Is accustomed to form every
view with the idea of realizing handsome
income from Il, and what he says should
receive attention even though he may not
be an infallible prophet. 1t is not long
since that he pred icted a crisis unless the
crops were quite large, and now that the
golden wealth Vt grain is being brought to
nan riot l,o 10 ov,,horo sf omar tho rNrns noeta
He predicted the partial failure of western
crops in 1881 and the resulting depression
of stocks, and 1t would have been o years
income in many q mans pocket, had he
trusted Mr. Hatch's foresight. s..
He believes now, in brief, that stocks have
touched their lowest figure, and that the
prospect for heavy shipments Of grain will
cause an upward tendency in stocks which
will give fine opportunities for investments
and improve the tone of the money market
everywhere. From the best sources OF In
formation the wheat crop will amount to
600. 900, 900 bushels while Texas alone claims
a product Of 40, 0o0, 900 bushels Of corn
The oats and hay crops are good every.
where"
All these facts argue great possibilities fol
Virginia and the South. The whole South
land is comparatively new country fol
enlarged business activities-ra ilroad con-
structien, furnaces. factories and general
material development. Our climate, soil
mineral wealth and abounding natural ad
vantages are attracting the attention Of
the whole of tn is and other countries. Our
manufactures are In their infancy; the
"a ilroad ram ifcations limited and imper.
feet, yet the field is here to invite the mos
extensive industrial establishments and the
most comprehensive railroad combinations
The disturbance In the relations OF labor and
capital In the North and West must cause
diversion of thought to section where 9
more valuable labor element exists, sup
plemented by natural inducements. sur
passing those Of any other portion of the
Union. Iron. coal. timber, are all here
waiting the touch Of capital for their cor
version into commercial fabrics at less cos
than anywhere else, and at greater profits
Railroads are reaching out from the North
into the South to bring the sectiOns closer
together, open up connections between pro-
duction and consumption, and invite cspt
tai and enterprise into profitable employ.
ment.
Even q superficial glance at the infiu'
ences now being set in motion. must con-
vince the most skeptical that we are enter
ing upon period Of unparalleled business
activity and prosperity, and that the year
1882 will mark an era Of material devel-
opment, OF withdrawing enterprises,
such as has been rarely vouchsaied to the
United States-a prosperity based upon Gre
ated values. and directed by the lessons Of
experience. With such inviting yet re.
straining influences, we may safely ealcu-
late that abnormal excuses will be avoided,
and that values will enhance in rational
ratio, govern ed by legitimate demands and
guaged by the growing wealth Of the
country.
The Independent movement in Pennsylva-
mia in the Republican party is designed to
elect the Democratic Ticket. The movers in
it have practically read themselves out of the
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