The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1878-10-09
WHOLE NO. 1922.
PRESIDENT HAYES sprEcn
he TALKS OF uARD TIMES AND PRE-
dots gETTER TIMES

Il dispatch from Toledo, Ohio,
says: TIE President, win Mrs.
Hayes and Webb Hayes, arrived
here from Fremont this morning,
and is spending the day il
the city and at the STATE Fair
After luncheon be proceeded, under
the escort Of Mayor Jones ard the
Ohio National Guard, to the fair
grounds, where fully 10000 people
we're assembled. As the head Of
the procession entered the grounds, q
| National salute was fred by the
( Fourth battery, Ohio National Guard
President Hayes vas welcomed in
speeches by Mayor Jones aud Pfesi-
den; Baumgardner, Of The Tri-State
Fair Association, and ia response
spoke as follows:
JIy Friends and Fellolc Citizens:
The three States Of Michigan, IHdi-
ana and Ohio. it Is safe to assume,
are each numeroasly represented in
the audience before me. These
States are fortunate 10 their history,
il their geography, in .heir soil, in
their climate. and in their people.
they are a part, aud q very imDor-
tant part, OF the old Northwestern
Territory - that beautiful region
northwest Of the Oaio river which
was given to the United States by
the State Of Virgins 10 1897, and or
ganically devoted to freedom
and freedom forever. (Appiauss J
And now you have assembled to-day
TO show what the production Of your
farms, your shops, aad your minds
have to exhibit Naturally, one Gd-
dressing an audia8os assembled for
such purpose Is mainly turned %
the material interests Of this impJr-
tans part Of the United States; eud
during the very few minutes that ig
| is proper for me to detain you, ! pro-
/ pose TO call your attention only brief
lly to the subject Of material Inter
ests. Geographically the future
fortunes Of these three States are
alike aud equally great They are
in temperate zone, have r good
working climate az all seasons VI tas
year, men can work sta :llg uldsr
and in the sun that shi-s sa taeif
land without Injury, apI 10 winter
they can work again. {e arc MD
way between the grea1 Esst cad The
great West, and as we e mid@ay
between New York ald G icago,
end San Francisco bstgeel !.1dJa
aad China, il is Cccoss tlis I1try
that the commeTce Of the sOrl must
travel We are fortgna g. our
soil. Every great vG!a21.s crop Of
the temperate zone can be Successful
Is cultivated here. Hay, c5ru, wheat,
catlle-all the grsa. Interests of ag-|
riculture iu ibis z18e Csa here BE-
successfully cultivated Tas wesith
Of the mines we nave also; coal .
abundance, suficicnl 70 supply t-s
whole land, and iron aud copper. l
say, ny friends, tha. in material
wealth we have all the essential ele-
meuts. And yet, and yst-it i 10
your thoaghts-I can almost read II
in vour faces-tbet for Eve years
past there has been stagnaii0R IN
business, and the depression sill
seems 70 exist Now, the few plain
words that / desire to say on this
subisct re, frst, word or two as 70
the cause
TuE CAUSE CT HARD TIMES
One simple, Acknowledged fact, Or
opinion, and known TO most men, Is
thar The var was The cause Of IL .
Now, my friends. this is tie cause ofl
that extraordinary and rema' k4ble
event which happened in 1873
There i no mystery il Il; is Was
bound % be sooner or later; you
could not escape It The war made
the hard times, as war always does
Why. what Is war. We know
about now When the war began
we were threatened 18th its results. I
| remember o brilliant writer IN Cia-
cinnaii, here | resided in 1869, who
said Why, this eoua;ry can't 20 20
war. The people of Cincinnati live
on he business of tie South Les
Us 60 TO war, AID SIX months tie
grass will g7ow in your bywsys and
streets" Did it, Why, nv friends
The war had 40. been prosecuted
ninety days until every man saw
what a mistake that was, sGd that
every street was busier than before
we had war. A million Of men IN
the South were taken from the ranks
of Industry, aud instead CT making
property, they became The des-ruyers
and consumers Of property. 50 It
was in the N0Tth-but where it
made a difference from what was ex-
pec;ed was this; every man Who aad
wheat or corn or coal or labor, found
tina. when war came, ne hGd better
customer than ever before 1 custom
er that wanted all be had get snd
wanted it Immediately customer
who would cot hasgle ab1ut TIE
price. That customer he had 10 toe
person of the United States Blsi-
ness. instead Of being depressed. os-
gan to revive. Property which bad
laid on the shelves Of the merchants
for a ng time increased in value day
by day. The result Of il then was
we made money fast sud easily. We
could afford TO borrow q. high rates
Of Interest because cur investments
were sure 70 be profitable Over
trading and fss, living were the re.
suits Of toe war; | need not enlarge
on It. Finally tie war ended men
formerly in the ranks returned 20
their homes, aad the material q sds
OF the government began 70 dscresSe
You lost your best Customer. he
United States Ii didnt wan to
buy: il wanted 20 sell Now every
wise man knew ws would have = Gay
Of settlement. Flush times Of war
are to bc followed by hard times liSs
these we have lately known. and
there is the cause New. nv friends
it is sufficient to say that i written
in the laws Of political economy that
wars arc followed by hard times and
panics he only mystery IL The
whole thing Is that the hard times
did not ccme before Jhey did.
HITTER TINES kusNn