The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1885-01-01
The Presidenr-Elect.

The President Elect.
The President.elect is known in an Of
fetal capacity only to the people Of New
York, and in his personal relations to
much more limited circle. lie has never
been connected with any public duties OF
a national character, and consequently the
general public have less knowledge of him
and his history probably than OF any other
man in the country who has been brought
into great prominence. The recent con
test in which he was one Of the prominent
figures, was exceptional for its bitterness,
it's reckless presentations and the vulgar,
low appeals which signalized it. Many
things were said which ought not to
have been said OF both candidates, as
is always the case in heated political
engagements, and statements given which
impressed the people with Il wrong be-
lief as to Gov. Cleveland. Hence it is
proper and fair that those who have
known him intimately and can speak
knowingly should be heard, in order that
the people of both parties may have Il cor
rect understanding Of him who iSto be Pres
ident Of the United States for four years
from the 4th Of March next. We there.
fore publish on our first page letter from
an intimate. lifelong personal acquaint-
ance of the President. elect, minister Of
the Gospel, and Republican, who tells
what he knows personally and tells it
through a Republican paper. We also
publish-on the fourth page theimpressions,
Of Il Republican correspondent, who
formed his opinions from casual visit
and without any previous acquaintance
with the subject Of his comments.
The public generally have no other
means OF information as to the character
fSA Mr. Cleveland except through the
newspapers, inasmuch rs his history is To-
| cal and not available to the public. 1t is
| fair that what is known and published by
creditable persons Of long and close ac-
quaintance, as well as the views formed
by those Of passing association, should be
given to the general reader, for it ought to
be more agreeable both to political friends
and foes to have favorable impressions of
public officer, and especially the Presi.
dent of the United States, than otherwise.
All the people ought to feel an interest in
| this, for they are concerned-they are q
part of the government, III popular
sense, and should show solicitude in every
! thing affecting national character.
| -
Bradstreefs reports that out of 100000
persons employed in 1882 In labor indus.
tries, $50, 900 Of them are now idle. This
embraces twenty-five States IN which 30
per cent. Of the manufacturing enterprises
Of the country are operated. The depres-
sion in this channel Of endesyor is very
great, and it affects. in greater OF less
degree, every other branch of business.
There is nothing phenomenal, however. in
this. We have had these periodical de-
pressiOns from time immemOrial, the cause
for which has never been satisfactorily
stated. They have to be philosophically
met, for there is no way to evade them.
| The reaction will come in time, and bust
ness resume its activity, commanding Ia
Dor and infusing life into the trade. The
restless energy and robust manhood of the
country cannot rest satisfied in state of
inanation. Railroads will be built, fur
naces will be operated. factories will start
their machinery, and labor will be EN-
ployed, and with these in motion enlarged
| consumption will follow, and the farmer
remunerated. These occasional depres-
| sions have their advantages. They incul-
cate lessons Of economy, put the people to
thinking, and regulate expenditures by in
comes. There can, in the very nature of
things, be no permanently in them. The
current of business will soon commence
and run its course until it comes back to
the starting point, when another period of
| depression will follow. There ia nothing
strange or unusual in such changes and
fluctuations, and all we have to do is to
adjustou own needs and efforts to them.
One effect the discussion of the inter
State commerce bill will have will be to
make capital cautious how it goes into
railroad enterprises. The advocates of
Mr.. Reagan's bill come mostly from the
South and with the impression that the
sentiment and policy it involves prevail in
this section, to that degree will Southern
development be retarded. 1t is 4 popti-
lar thing in some localities, to fight ag-
gregated capital, under the assumption
that it is monopoly. But without aggre-
gated capital railroads cannot be con-
structed. The South needs railroads, but
to place such restrictions upon them as to
make them Improbable, or to subject
them to peevish, crude and ill.digested
legislation. would inhibit the necessary
enterprise and means to construct them,
and impoverish and bankrupt those already
in operation. With the vast wealth, which
only railroads can expose, in the South,
practically developed, competing lines
would be built, and this would arrest any
tendency to monopoly, or arbitrary and
onerous exactions. Monopoly" is a
convenient cry for the demagague. He
may pass to the front on it for a brief
time, but when intelligence and bust I,
ness sagaclty probe it, they find there is
nothing in it. AS general rule we have
no monopolies in the South, and are not
likely to have any. We want aggregated
capital, and he is no friend of the South
who would encourage any proposition that
wocld repel it, and that is precisely what
MI. Reagan's bill will do.
1t will be remembered that the day before
the famous Grant Il Ward failure, Gen. |
Grant exchanged checks with w. II. Van
derbuilt for S150,000. AT the time Gen. |
Grant did not know of the impending
catastrophe, The next day came the an
nouncement of the failure Of the Marine
Bank and Gen. Grants check was worth !
less. To secure Vanderbilt the General |
gave deed Of trust on all his real estate