The times. [volume] (Richmond, Va.) 1890-1903, 1898-12-25

general and specific denial OF the ,.sser-
lions which the Spectator has made. This
correspondent admits that real estate
values are not 50 great as they once were
In S;aunion, but makes the point mat
there Is as yet no speculative demand for
real estate in Virginia and contends that
In no sense Is the price OF real estate the
barometer OF business conditions. nor can
the fluctuations in its price be taken as
the gauge Of the volume of currency IN
circulation or held in surplus Quantities.
He then shows that there are good and
sufficient reasons why the NirSinht Hotel
and the school Buildings. TO which The
Spectator refers. are empty. RE seys
That the failure Of the proprietor of the
hoiel was due % causes and operations
apart from the actual conduct OF the
hotel business and that the hotel Itself
was in a fairly prosperous condition. As
FOR the schools he says that they have
not been so h0urishing because their
patronage came from Southern States
up, but that these buildings brought at
least what they originally cost and some
Of them now yield from ten TO twelve
per cent. on the purchase price. lie de-
clares also that fl is an exaggcration to
say that rents have dropped fifty per
cent. and as for The assertion that staun-
ton IS in the throos of the most "des-
pcrate depression by which she was ever
visited it is a mere Pigment Of a per-
turbed Imagination" He declares that
Staunton was never in a more healthy
condition financially, as the last bank re-
ports show, there being an aggregate
volume Of $9SS2i2.Ol TO the credit Of in
dividual depositors subject to check. much
of it standing in the names of the lar
mers OF the county. lie says that the
principal architect OF the city remarked
a few days ago that he had never been
50 busy as at present, and mentioned i've
or six hrst-class residences Cor which he
had prepared plans and which arc soon
TO be erected. He declares that the
credit Of the city was never better, as
evidenced By the fact that recently a
block Of threc per cent bonds. issued TO
retire six per cent. bonds. were greedily
taken MP by the people of stauntcn, ana
that all the six per cent. debt has been
converted. or is being converted, into
thrce-and-a.hah per cent. obligations
taken at par. lie declares that the FAR
mers Of Augusta were never in a more
healthy condition. as evidenced by The
bank deposits. to say nothing Of the vast
amount OF money boarded by those who
do not care TO have dealings with banks.
He declares that the merchants are do
ing fairly prosperous business and that
if the people are not purchasing as lib
orally as at Other times it IS nor because
they are lacking I'm funds.
il may be that this correspondent is too
optimistic. We know not But we sub
NIT that such as he arc doing far more
20 promote the prosperity and welfare Of
stauutou than the editor OF the staunton
Spectator, who has felt as he tells rs
called upon. for reasons best known TO
himself 10 advertise the city which he
represents as being a city 50 impover-
ished that all who can should leave it
and that any outsiders would be fool
hardy to make investments there. But
what reason has cur coatem7oFary Tor
telling this tale Of woe His whole pur-
pose. if we have inteligeuuy read our
contemporary from time TO time is TO
promote the cause of free silver and be
but emphasizes the fact. which we have
so often asserted that free silver must
feed on calamity or die. II "a indeed a
poor cause. not TO say a desperate cause.
that must be bolsiered up hy such line
of pOlicv.