The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1876-08-24
GOOD TIMES COMING.
Hon. Schuyler Colfax Believes The
Hard Times are about Over--Good
Reasons for Belief.

At great Republican mass meeting
ut South Bend, Ind, last week, Hor.
Schuyler Colfax was called to preside,
and on taking the chair, said:
ssThe eloquent orator who is to ad-
dress us tonight will speak to you fully
and effectively as to the political prin-
ciples and platforms generally. And as
1 have SO recently addressed you in re-
gard to them, will not trespass on the
ground which he will occupy SO well.
Let me, therefore, in these brief intro
ductory remarks, venture a prediction
as to 4 subject interesting to all of US
THE FINANCIAL SITUATION.
Travelling over the country from Octo-
Der to July, from New England to Ne
braska, conversing with more people of
all classes and occupations than any
other citizen, and Watching closely the
signs of the times in every section that [
visited, am very glad to express my
conviction that, financially, we have at
last weathered the worst of the storm
and that, before the close of this Cen
tennial year, we shall see the commence
lnent of a slowly rising tide OF prosper
ity taking the place of the stagnation
which has paraiyzed business and unset
tlel values since the dark days of Sep
TENDER. 1873, when the panic burst up
on us. And to prove that in this case it
Is not merely the wish is father to the
thought, let me give you a few reasons
for this faith and hope.
Judging by the recent great auction
sales of the great staples East, the con-
slant settling down of values has at last
reached "hard pan," and the individual
and family retrenchment caused by the
low wages of labor, and the melting away
OF investments, and diminished incomes
render demand certain at these low
pricea which Will press hard upon the
diminished supply. This of itself will
tend to invigorate trade, overcome
stagnation, and give new life to business.
The iron interest, which felt the shock
of the panic most disastrously of ali is
beginning at last to revive-not unto its
former vigorous activity, but in sus-
picious contrast to it's most disastrous
lethargy. States, and municipalities, and
individuals have neither been willing
nor able to increase their indebtedness
as they were so unwisely doing before
1873. Our crops, as general rule,
have been large and abundant. Crops,
even ut low prices, foreshadow in ag
ricultural countries relief from inertia
in business and trade, and restor-
alton of prosperity. Railroad building,
which the panic SO sharply and SO fer
tunately arrested, is witnessing a slow
and healthy revival, and we hear in
different regions, as on the PeninSular
Railroad that runs through our city, of
longprojected and much-needed links
that are now in process of construction.
And / am so old fashioned as to believe
that the balance of trade with foreign
nations being now so heavily in our
favor, instead of against us, as before
the panic, will aid in the restoration of
the long hoped-for activity and pros
perity, the morning beams of which [
am sure I can family but clearly discern
There has been one bright spot amid
the darkness of these three years of
financial distrust and panic-our nation
al credit. Fortunately that has been IN
impaired and really strengthened
Through all these dreary years, in all
this sea of wreck and ruin, our unim-
paired national faith has been indeed an
anchor of hope; and thus saved from IL
reparable disaster, our ship of state may
be expected hereafter to sail on smooth
er and happier seas. In a very few
months the political strifes and antag-
onisms and excitements of the Pres
idential campaign will be over. With
the certainty of stability of national af-
fairs, with the reasssured conviction in
all sections and among all classes that
there will be no violent and disturbing
changes to cause distrust and insecurity
that the dangerous element South is not
to be revived into new hope and more
aggressive action, as under the admins
tration of Andy Thomson; that our ma
tional finances are not to be jeopardized
by new experiments and untried theories.
/ anticipate more confidence in all cur
rents of trade and finance, more demand
for manufactures and products of all
kinds, more willingness to invest in bust
ness enterOriSeS NOR. ouictaninO Of the
pulses of commerce, and cosequently
more prosperity for the country and its
citizens-capitalists and laborers alike
and cannot every one who wishes well
to his country join in the prayer, $50
may it be-"
A TURKISH JOAN OF ARc.-The Paris
correspondent of the London Telegraph
says: 1T appears that Mile. Mercus,