Valley Virginian

One of the wonders of this century is the rapid increase of Northern capital--a subject which may afford a study to us in the South, and from which we may learn valuable lessons. Enterprise, ingenuity, and industry, may account for it in part, but there are two circumstances besides which play an important part in producing the result. The first is the innumerable channels of prompt and profitable investment of surplus income. With the opportunity of reinvesting every ninety days, or oftener, and the legal rate of interest being seven per cent., we can readily see how a young man, with a start of $10,000 may, without any other business, become possessed at the age of seventy of one-third of a million. The difference between investing the original capital at seven per cent. every ninety days, and investing it at six per cent. every year, is amazing. Hence we see how it is, the joint stock companies of New York have become possessed of such enormous wealth. In the case of a company with fifteen millions, the difference is upwards of two hundred thousand dollars per annum. Need we wonder at the princely dividends made by these chartered establishments, and the fact that the stock of companies managed in this way is never seen at the stock boards and never quoted on the bulletins. They are too valuable to be seen in market. They descend in families like the crowned jewels in a royal household.

The second circumstance is the rapid and incredible increase of property values in a city rapidly extending its business limits. Examples are not rare in which a piece of property in New York has changed hands several times in the course of a few years, giving to each owner a handsome sum from the increase of its value in market. Thus a successful merchant, who owns his business stand, after making a fortune in business, finds he has a princely income from the immense increase in the value of his property.

Here, again, we see how the mammoth joint stock companies of New York, as well as her wealthy merchants and other capitalists, have amassed such enormous wealth. By the exercise of sound judgement in the purchase of real estate, it often quadruples itself in a few years, and lays the foundation of fortunes almost beyond our comprehension.

We are starting afresh in the pursuit of wealth. What use we may make of these institutions--how we may ultimately avail ourselves and our families of some of these dividends--and what lessons we may learn from this method of managing capital, may well be asked by the anxious minds of our perplexed people at this time.

The situation is in such a muddled and mixed-up condition that we forbear comment, until further developments, and only give facts as they reach us up to going to press.

The Baltimore trouble can be summed up in a few words. Gov. Swann, under the law of Maryland, appointed new Police Commissioners, and the old ones had them put in jail. Gen. Grant, acting for Gov. Swann, on the 5th, was trying to compromise matters, but the Radicals are playing the game boldly. Yesterday's elections will show who will succeed. In the meantime the South can only wait, watch and work.

Jefferson Davis has had his parole extended and his guards withdrawn. This boon is granted when his is barely able to enjoy it, from the effects of his brutal imprisonment, but we should be thankful for even such "small favors"--and pray for his release before he dies.

The Conservatives have some hopes of carrying New York and have made a good fight, but it is best not to be hopeful. We must rely on ourselves. General markets are unchanged. News from Europe foreshadows another war. Gold in New York 147 1/2. The South is quiet.

Since writing the above, we find the following important news in the Baltimore Evening Transcript of the 5th inst.

A compromise has been effected by which all the old Judges are dismissed and two Radicals and one Conservative Judge, each to be worth $10,000 real estate, sufficient to assure an honest discharge of their duties, are appointed in such precinct.

They are also to be appointed one Conservative and one Radical clerk in each precinct.

By this means a Conservative triumph is assured.

The demand of the extremists of the Radical party--that the Southern people shall manifest no sorrow for their own dead--is one of the most extraordinary that the maddest fanaticism ever made. If the people of the South weep over the remains of their own flesh and blood, if they contribute their humble means and efforts to afford them the rites of decent sepulture, they are denounced as deficient in loyalty and traitors to their country! Was ever such extravagance of tyranny heard of? Can they suppose it possible that human nature in the South is so different from human nature in the North and human nature everywhere else, that it can look with composure upon the graves of kindred and friends and treat them with a neglect and indifference unknown to barbarians? What would they make of the Southern people, but the vilest hypocrites on the face of the earth, when they would compel them to shed no tears over the memory of their dead sons and brothers? Would such people be worth reconstructing? Would any decent despot have such recreants to humanity for his slaves?

We find the following in the Clarke Journal, of the 2nd inst., from a lady correspondent. She says:

"I have been so struck in perusing your paper, with its staunch loyalty and devotion to our old State, that I am tempted to enclose you this testimonial to its brave sons, all the more valuable from being wrested from your enemies during the times (Oh)! too surely gone,) when daily they were made to feel the might of Virginia's sons could wield in the cause of right. The Valley, Jackson's Valley, certainly deserves these praises most; it is the desire to see them in a Valley paper that has prompted me to enclose them to you.
Virginia."

THE VIRGINIAN--The Washington Republican thus praises the Virginian. It says: "If there has been any decadence of the manly virtues in the Old Dominion, it is not because the present generation has proved itself either weak or cowardly, or unequal to the greatest emergencies. No people, with so few numbers, ever put into the field, and kept there so long, troops more numerous or more efficient, or produced generals of more merit, in all the kinds and grades of military talent. It is not worn-out and effete race which has produced Lee, Johnson, Jackson, Ashby, and Stuart. It is not worn out and effete race which, for eighteen months, has defended its capital against the approach of an enemy close upon their borders, and outnumbering them thirty to one. It is not worn-out and effete race which has preserved substantial popular unity under all the strain and pressure and sacrifices of this unprecedented war. "Let history," as was said of another race, "which records their unhappy fate as a people, do justice to their rude virtues as men." They are fighting madly in a bad cause, but they are fighting bravely. They have few cowards and no traitors. The hardships of war are endured without a murmur by all classes, and the dangers of war without flinching, by the newest conscripts, while their gentry, the offshoot of their peculiar social system, have thrown themselves into camp and field with all the dash and high spirit of the European noblese of the middle ages, risking, without apparent concern, upon a desperate adventure, all that men value, and after a generation of peace and repose, and security, which had not emasculated them, presenting to their enemies a trained and intrepid front, as of men born and bred to war."

The Ladies Memorial Association, organized for the purpose of decorating this Cemetery, and re-interring the martyred dead scattered over this country, request us to say that they are again indebted to Mrs. Arnall for her exertions in behalf of the cause. Notwithstanding her delicate health she has collected a large proportion of the amount received by the Committee, and again, in response to their appeals, she sends $5,00. Will not others emulate her example?

The Committee desires to have all the bodies brought at once to the Cemetery, and trees and evergreens planted. They appeal to every honorable feeling; to every grateful memory; to every man, woman and child, to come forward and aid them in this sacred duty. The desolated people of the lower Valley, where as far as the eye can reach, not a fence, and hardly a house, can be seen, have nobly done their duty to our "loved and lost." They fully appreciate the fact that the dead gave all for us, and the noble women of Frederick and Clarke; the brave farmers of the lower Valley did not wait for a few ladies to bring in the bodies and do the work. Let the farmers bring in the bodies and let the women of Augusta and the adjoining counties do their part. Let us show the world that Augusta is worthy of the name given her by the "Father of his Country," by making that sacred depositary of "rebels," The West Augusta Soldier's Cemetery, all it should be. Don't await for others to do the work, do your part, and make the men do theirs, and the work is done.

At a meeting of the Ladies' Memorial Association of the county of Montgomery, at the White Sulphur Springs, on the 16th of August, where the people had assembled to restore and decorate the graves of the Confederate soldiers who died at the hospital at that place, during the war, Col. William Munford delivered the following verses:

As o'er the past the widowed mother weeps,
And at the desolated hearthstone keeps
Her lonely vigils;--when December's
Breath lights up the dying embers,
Who is it then most dearly she remembers,
All back among the graves, through all her grief
The spirit wanders, seeking some relief?

Is it the stout and buoyant-hearted boy,
Who grasped Life's flashing blade with eager joy,
And onward pressed with right good will,
And on, and upward sped, until
He flung his banner out on some proud hill;
Does he come back in all his buried splendor,
To fill her heart with thoughts most dearly tender?

Or rather he, the feeble one, who burned
To mount as high, and for the struggle yearned,
But faint and weak,--not all her care
Could keep that eager spirit there,
That mounted far beyond the reach of prayer;
Does he not rather come through all those years,
To loose the sacred fountain of her tears?

'Tis thus Virginia, at her spoiled hearth,
Remembers these,--with all her buried worth.
Forbidden yet by Power's lust
To recognize their sacred dust,
Devoted daughters have assumed the trust,
Until the grand old mother, freed of bonds,
Shall come to write her love in stone or bronze.

Then here to-day, in view of all that band
Of southern martyrs, in the spirit land:
These starry clusters, we may see
Now circling o'er us, born to be
A shining system round the sun-like sea!
We come to bow before these nameless ones,
Who died so well--so far from all the guns.

Ah yes! 'tis these who would have died for Right,
As grandly as the foremost in the fight,
But fainted by the way. 'Tis these
Who fought that other King, Disease;
We come to honor on our bended knees,
With all our holy women standing near,
To bless each lowly one with many a tear.

And while they weep among those lonely graves,
We dare proclaim as loyal men--not slaves!
Nor power, nor force, nor human laws
Can bind our people with a clause,
That "traitors" make of martyrs in our cause.
For though they sleep beneath a nameless sod,
They're patriot heroes in the sight of God.