The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-12-10
The Victims Of Blooms. ("

prophets OF evil are having their day.
Il told you so'' is on the lips of every
one of them. They gleat over the mis-
fortunes of those who were led into eX-
cesses during the height of the spirit Of |
enterprise and Improvement that swept /
over the State. and seem to rejoice that |
misfortune has befaiien not only some !
well meaning people, but enterprises
which were not maturely considered and
properly engineered. They are now
sweeping in their condemnation of all
booms and boom towns, as we'll as
boomers, losing sight of the good that
has been accomplished and is certain to
follow the plans and projects OF those
engaged in them. There was, no doubt.
a good many wildcat schemes inaugu>
rated during the boom experience
good many people lost their heads-in-
vested their money right and left, ex
pecting to realize immense profits. But
the resaction caught them, and instead
of gathering in large profits, experienced
loss, which some of them were not able
to stand. Notwithstanding this, there
are many of the boom towns which
are building on solid foundations-towns
that would not have had an impetus
but for the booms, which would have
dragged their slow length along at u
snai's pace as in the past, and been
scarcely known outside their own limits.
They are now extending their limits;
i ~
lures are going up; industries being OPP
Grated; enterprise pervading the peo>
pie; population and capital coming in,
and the assurance given that progress is
The order and success the goal. Atten>
ton has been drawn, through the
booms, to the diversified and prolific
natural wealth of the State, which 9th
erwise would, for long time, have re-
manned unknown; capital is seeking solid
investments in our mineral districts; in>
dustries are being planted, labor en-
ployed, and money distributed through
out all the channels and ramifiations
of trade, adding to the wealth of COM
nlunity, creating taxable resources for
the Commonwealth. and causing spirit
of enterprise and progress heretofore I'M
known to Virginia. In these benefits
there is ample compensation for all the
losses that have been endured. 1t is
true the losses bear heavily on some, but
by industry and push, in the general
stir and development going on, they
may recover from their misfortunes,
learning lesson of prudence and safe
ty from the impulsive and unguarded
recklessness with which they entered
the 'boom" period.
Clifton Forge stands out as an illus
tration of the Survival of the fittest."
Notwithstanding we have our croakers
and INSTRUCTORS, the town is going right
ahead The boom collapse has been
but slightly felt here-certainly has not
had the effect to discourage or destroy
confidence. Prices for good building
lots are maintained structures are go
ing up on ali sides-some of them i'm
posing and durable enough for a far
more pretentious city; residences are oc-
cupied at fair rents as soon as completed;
business stands quickly appropriated;
and Improvements of every kind cons
stantly progressing, indicating the So
lidity and steadiness OF the conditions
upon which the town is being built
Iron Gate presents a similar aspect. Its
foundations are surely laid, and its pro
gress healthy and encouraging. And
throughout this district, where the nat
ural conditions are such that judicious
investments cannot go amiss; where en>
terprise is sure to be rewarded; where
steady and healthy progress IS empha>
sized at the close of every day; where
confidence in the future is mistaken, and
where public Judgment has located the
lines of an industrial and commercial
section, throbbing and pulsating with
machinery, aglow with furnace fires,
and teeming with enterprise and wealth
the "boom' spirit has proven its use
fulness, and that it is not all reckless
speculation and deceptive glamor.
Not only has the BOOM craze been
Invested of harm here, but we have the
assurance of an active and successful
|
background that which has been done
up to this time. Every improvement
that has been made only strengthens
the lines of progress for the future. AT
Bessemer, Glen Wilton, Iron Gate, Cliff
ton Forge, Low Moor, Covington, and in
fact from one end of this great mineral
section to the other, the developments
that have been made and the enterprises
inaugurated serve as an assurance of
still greater progress, and more enlarged
and profitable operations
Clifton Forge, with its nearly four
thousand people; its industries and mod
ern improvements; its terminal railroad
facilities and advantages; its mineral
environments; the attention it is COM
handing from all parts of the country,
and the agencies that are combining for
its growth and prosperity, will bound
forward in the spring at such astonish-
ing pace as to shame and confuse the
croakers and obstructives, and either
drive them into their holes or impel
them to join the procession and move
along with the column of progress.
So those who do not like booms and
are afraid of the stir and motion they
cause, may suck their thumbs and look
on. The procession will move apace-
new enterprises will be undertaken-new
life will be infused, and all the requires
ments for progressive and healthy town
will be invoked to make prophecy liv>
ing fact-that right here is to be the
altoona of the South.n
1t is positively stated in Washington
that Gen. N. Golf, of West Virginia, will |
be appointed one of the District judges,
If he will accept. We had the assurance
six weeks ago that Gen. Golf was not
only willing to accept, but desires the
appointment. His public life has been
very active and expensive. He has had
no rest or quiet for years. and doubtless
he feels that the Bench would release
him from the eXactions of party, to
I'll, I, T.. II