US Presidency
1877

The President of the United States of necessity owes his election tooffice to the suffrage and zealous labors of a political party, the membersof which cherish with ardor and regard as of essential importance the principlesof their party organization; but he should strive to be always mindfulof the fact that he serves his party best who serves the country best. In furtherance of the reform we seek, and in other important respectsa change of great importance, I recommend an amendment to the Constitutionprescribing a term of six years for the Presidential office and forbiddinga reelection. With respect to the financial condition of the country, I shall notattempt an extended history of the embarrassment and prostration whichwe have suffered during the past three years. The depression in all ourvaried commercial and manufacturing interests throughout the country, whichbegan in September, 1873, still continues. It is very gratifying, however, to be able to say that there are indications all around us of a comingchange to prosperous times.