New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-09-06

|
with Ex-Governor Ramsey, Mr. Hayes was
escorted by large procession to the railroad
depot, whence he went by train to the Fair
Grounds, where he was greeted by an immense
crowd. Mr.. Hayes made a long address on
financial topics and the growth of the North
west. st. Paul was gaily decorated in honor
of his visit.
AN ABLE SPEECH BY PRESIDENT HAYES.
DETAILS OF THE WELCOME ACCORDED PRESIDENT
| HAYEs-A LONG PROCESSION IN ST. PAULA
GREAT CROWD on THE FAIR GROUNDS.
ST. PAUL, Mimi, Sept. notwithstanding the
early hour at which the Presidential party was ex-
pected this morning. people were in the streets TO
see the train arrive and welcome the Chief Mags-
trate. The Reception Committee consisting of Gov
ernOr Pilsbury, Ex-Governor Sibley, and Mayor
Dawson, met the special car bringing the President
and party from Chicago at Hudson, WIS, on the
! Chicago and Northwestern Road, and escorted
! them to the city. reaching here at quar-
| ter of o'clock, Presidential salute from guns
| stationed on the bluffs the only formal re-
| ception. As the party passed through the streets
it appeared rs though the city was in holiday attire
| to welcome the distinguished guests. The streets
| were gay with flags and bunting. Third-st. was
spanned with festoons, bearing the portrait of the
/ President and on the reverse the words, " Union
forever On the sides were smaller shields bear
| ing tine words "No North, no South, no East, no
Vest Further up. near Bridge-square was
/ lofty arch, highly decorated, bearing the motto,
"St. Paul. the Metropolis of the Northwest well
comes the President" Still further up, before the
Metropolitan Hotel, was another arch, with the
motto, Welcome to All.'
The party passed quietly up the streets from the
train. The President and family and General lie Due
and family breakfastcd with Ex-Governor Ramsey,
and the rest Of the party at the Metropolitan Hotel
As the day advanced, the streets began to fill with
an expectant crowd, and long before the hour ar
rived for starting the procession for tine Far
Grounds. the sidewalks and windows along the pro-
posed route were filled with people. The hour tor
| forming the procession fixed at o'clock,
| but in spite Of careful arrangements IL was
| halfpast 10 o'clock before tine start was
made. As the procession passed slowly through
! the crowded streets to the depot the assembled
thousands chcered the President and the dis
| tinguished gentlemen who accompanied him. Ar
rIvIug at the depot of tho ST. Panl and Pacific
Railroad Company. which runs branch to the
/ Fair Grounds this week, another large crowd was
| assembled to see the President. The companies
forming the escort separated To allow the carriages
conveying the party TO pass through, and the first
To enter the train the President and his party
| President Hayes bowling he stepped on the plat
firm, IN acknowledgment of the cheers of citizens
! and the escort drawn up IN line. Next came exGOv
erpor Ramsay XXI Governor Sibley President French,
of the State Agricultural Society, whose guest the
/ President II, aud other distinguished citizens aud
guests.
More delays occurred, and il was a quarter past
| IL o'clock before the tram started for the Fair
! Grounds some two miles from the city, reaching its
destination at about quarter to ~. Here another
! I'm IN
tial party. The party ali GIFTED and pressed its way
through the throng to a stand prepared for speak
ing which was opposite the grand stand of the race
course The latter was filled with people who also
filled all the standmg-room far beyond reach of the
Presidents voice The arrangements were perfect,
| and the programme arranged was promptly carried
out The President stepped TO the front of the plat
form and was introduced by Ex-Governor Sibloy
He then addressed the vast assembage rs follows;
THE PRESIDENTS ADDRESS.
| FEILow-CIruESs OF MINNESOTA wish to make my
sincere to the Governor OF Minnesota
! Governor Pisbury, 10 the Mayor OF ST. Paul. Mayor
Dayson TO the president Of the Minnesota state Agrcu
tra Society George French aud to those associated
with them aud T. the people OF this state whom they
Ieurcsen for their kind aud generous welcome know
very well that nothing do or will be fitting
and adequate return for your kindness, but honestly
desire 10 say something touching the material interests
of the country which will tend at least to encourage
those who need encouragement and to give increased
| hope 10 those who are already hopeful.
The most interesting questions In public affairs which
now engage the attention the people Of the United
states are those which relate 20 the financial condition
Of the country. Since the financial panic and col
/ Iapse Ave years ago, capital and labor and bust
| ness canaeity have found It hard to get profit
| able cnploymcn We have had what Is commonly
| and properIy known hard times. In such times
| men naturally ask what can be done how long
Is this stagnaon OF business to last Are there any
| fftslN ufs
wish TO ask your attention Tor lev minutes While
imnrovement ia the financial condition OF the General
| Government It will be for you 10 consider what infer,
ences may fairly be drawn TO their hearing OF the
question OF revival OF business prosperity throughout
The financial condition OF the Government OF the
limited states Is shown by It's debt, Its receipts ana
expenditures the currency, and the state OF trade
state OF public debt The ascertaned deDt reached
lis highest point soon after the close OF me war III
August 1868 and amounted to 1oo9,o1l 10 IN a-
dton TO This estimated that there were enough UNI
S saIt @ sWn tae total debt to $1,000 How
20 deal with this great burden was one OF the graVes
! var IL will be remembered that In Important
| speeches and In the public press the opinion was
Mn mar great Ious never did pay their war debts
mat our debt would be like that OF Engand-pelmanent
Lau burden upon ourselves and our pOsterty Tor all
| time some advocated and many feared Reputation.
IN re were those also who thought national aeDt was
gentleman az the mead OF the Treasury MT hugh nc
1uoch did not hold these views. lie believed ana Tue
Oanc beleyed that the debt not blessing, but
burden and that Il ought TO be aud could DO honestly
Md The policy adopted to reduce the debt and
thereby strengthen the public credit 80 rs To refund the
debt nc lower rates OF interest. go
hnd now give YOU the results The debt has been
daced until now ii is only S2035,5sO32l So This Il
compared with the ascertalpcd DEBT thlr
Teen wears ago. OF 1922 1O9,246 IS. More than one
fourth of the debt has been paid on In thirteen years
II we compare the present debt WITH the actnsa 6 IS9t
thirteen years agO-pacng the actual debt az $4,000
ono OOOgthe reduction amounts to about @l,OO0OOO-
00O or unethrd Of the total debt THUS has been de-
mopslrated that the United States can ana VIII pay the
| National debt.
| THE ANNUAL INTEREST REDUCED.
Encouraging these facts they do not fully snow
/ -. ronroaa rnnhe relic wing tha country from tho