The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-10-08
An Era of Prosperity.

The rush of wheat to the markets OF
the old country from the ports OF the
United States, has been phenOmenally
large this fall A million bushels a day
has gone across the waters, most of it to
the Continent. leaving England yet to
be supplied. The anxiety or necessity
which has forced farmers to part with
their grain, accounts for the low prices
it is now bringing, although much better
than last year By spring we look for
perceptible increase in quotations, and
expect England will have to pay pretty
roundly for her delay in supplying her
wants. AS much as a million bushels a
day has gone from Duluth direct by way
of the Canadian Pacific road, in addl-
ton to the steamer shipments from New
York and New Orleans. We find in this
large trade in grain an explanation OF
the receipt in this country OF over $l2,-
OOO. 900 gold from foreign countries with
in the past few weeks. There are three
ways for Europe to pay for breadstuifs
furnished by the United States. One is
by the importation by this country of
British goods. This has been largely di-
minished by the operation OF our press
ent tariff laws, which give an opportuni-
ty for our labor and capital to operate
industries to supply our needs. Another
is to send back American securities. and
the other to pay for the wheat, flour,
corn, pork. &C., in gold. The last OF
these means is generally adopted, as our
securities are so solvent, that foreign
creditors prefer to hold them, especially
as the railroad earnings promise to be
very greatly increased because OF the
immense crops that have to be moved.
Not only will more gold come in, but
better prices will be obtained as the
rush of our farmers into market is modi-
fed Those who hold their wheat and
corn will get the benefit of this increase.
The improvement in business and the
general confidence that is being inspired
are the result of substantial cause, found
in the statements above made. The lOgi-
cal effect of this condition of trade, will
be to give great activity in all branches
of business and bring about an era of
solid prosperity never before realized.
The manifestations of improvement will
gradually grow until spring, when Eve
expect to see, not boom, but a volume
of business transacted without a parallel
in this country. Iron is already improv-
ing in price, and real estate is feeling the
effects. Then these two interests con-
stitute the bedrock barometers to the
pulse of trade With these active and
prosperous, all other lines of values
will move, until the varied and diversi-
fed interests of the country become i'm
plicated.
This great iron district will feel the in
Huence. No where can high grade hema-
tite ore be mined at less cost, and no
where can it be converted into pig metal
to greater advantage. We expect to see
our present furnaces run to their tull
capacity, and when it is known that
practically inexhaustible quantities Of
first>class ore exists, which can be easily
mined and that every demand can be met
others will come in to establish addition,
al furnaces, and plants akin to the iron
business, and share in the profits that
are and will be assured.
We are entering upon an era OF unpre-
cedented prosperity on all legitimate
lines. through which the State is to be
benefited and towns built up on solid
foundation. Clifton Forge will not be
left out in the race The natural adva
tages, here possessed, supplemented by
the enterprise of our our people and that
of those who will come with capital and
skilled knowledge will make of this
place great business center and pops
,,lo,,c and xuaaJthy oity