Evening star. [volume] (Washington, D.C.) 1854-1972, 1879-09-18
kilograms to The Star.
PRESIDENT AT DETROIT.
His Speech To-day.
ANOTHER BUTLER CONVENTION.
GENERAL FOREIGN NEWS.
Cetywayo's Capture Confirmed.

CetywayO's Capture Confirmed.
THE GRAND LODG Z.
THE PRESIDENT IN MICHIGAN.
His Speech at Detroit-NatiOnal and
MuniciPal Indebtedness0Trea
Of.
Especial Dispatch to The StarI
DETROIT, Sept. 1S.-President Hayes and party
were received upon the landing OF the steamer
Northwest, by the mayor and City officials, the
government officers and large number OF citl-
zens. At II O'Clock the President was escorted
appearance called forth long and loud applause
His speech was substantially as follows:
The President referred to the prosperity of
the country, he said that "with resumption OF
specie payments had come better times"
The evidences OF good times are numerous,
JuI.e last, more steamers-more shipping of all
sorts-gathered In New York harb0r than was
ever before seen In that great mart Of COM
comparatively than the number OF vessels. The
lines Of the Pennsylvania railroad east Of Pitts
burg and Erie for the first seven months OF this
year, as compared with the same period In 1878,
showed an increase Of gross earnings OF
$1,2GS. 1884, an increase Of expenses Of $759, ,9s5,
and an increase In net earnings OF s44S,309 the
lines of the Philadelphia and Reading railroad,
the great anthracite coal road,) a net increase
Of $l,340,0O0 for the same period The latest
published statement OF the Erie Railway Com
Baltimore and Ohio Railroad Company shows
net increase Of s532,OOO for the first ten
months OF It's It's current fiscal year. beginning
than a thousand miles of railroad track
have already been laid this year in the
United States "a greater mileage than
Workers in iron and steel find their business
recovering so rapidly from its great depression,
that they are unable to I'LL their orders, and
f6e hrsee Is to
building Of iron steamships In successful COM
petition with Europe is fully established on the
at work and running on full time. Our hines
Of precious metals are increasing their product,
ard 1t mainly stays at home. Our manufac-
lures go abroad more than ever before; our cur
Tency Is exchangeable at par In the markets OF
the world with the money OF the world; and,
finally, and most important, the demand for
labor has increased and is Increasing. 1t ex-
tends to nearly all branches OF industry. The
Philadelphia Record, on the authority of we'll
known statlst1cian, states that there are O,OO0
more laborers employed In that city than there
amounted to $40, ,439, Al, and the excess of
exports over imports was s264, ,66l ,661, both
sums being greater than in any previous year.
show the rapid advance our farmers and manu-.
facturers are making In supplying both the
foreign ard the home markets.
With these authentic and significant facts
and figures before us, we may reasonably as
sumo that the country has entered again upon
period OF business prosperity. The interest
To What %e do e ana
In public affairs to prolong the period OF pros
per1ty, and to mitigate the severity of hard
When they agan es The
the wheel OF human Affairs, always turning,
brings around those tremendous events called
financial panics, # not with regularity, at any
rate with certainty. The writer OF an intelli-
gent article in one OF the monthlies says
"Panics 1t has been observed, recur about
every twenty years In this country, and almost
every ten years In England" The explanation
OF this is not difficult to discover In good times
the tendency Is to extravaganza, to specula-
ton, and to running In debt. Many spend more
begins to run against communities and individ-
uals. When this has continued until the bust.
ness OF the country is loaded down with debts,
finai cial crisis is Inevitable, and only waits
Tor 'the last straw" II this view is correct the
way to meet the dangerous tendencies OF flush
times Is plain; Let two OF Doctor FrankIlns
viduals and by communities. One is:-"Never
live beyond your means;;" and the other is IKE
unto m 1t, namely-'.Pay as you 60"
,Ine me , practice OF creating public debts, as 1t
prevails In this country, especially In munich
pal government, has long attracted very seri-
Gus attention. 1t is great and growing evil
states, whose good name and credit have been
hitherto untarnished, are threatened with re-
pudiation: Many towns and cities have reached
q point where they must soon face the same
peril. Experience in this country has shown
circumstances. gain by reputation. The re-
pudiators themselves cannot afford it. The
community con- that deliberately refuses to pro-
and shuts the door to all hope of future pros
perity. 1t demoralizes and degrades all classes
OF It's citizens. Capital and labor and good
wit surely leave 81 them. @ ' II ' he thought his his
words could influence any OF his countrymen
who are so unfortunate as to be compelled to
CONSIDER cons this question he would say let no
vantage to himself or to his party to take i,
single step towards reputation. Let him set
bis face ike flint against the first dawning OF
way. 1t has been well said that the most eX-
pensive way for community to get rid OF its
honest debts is reputation.
Municipal borrowing Is the parent of waste,
pro1gacy and corruption. Money that comes
easily goes easily: In this career Of reckless
extravaganza, cities build and buy what they
90 not need, and pay for what they get, far
words OF The valuable report of the Pennsyl-
yania commission appointed to devise a plan
1Or tne government OF cities. To sum 1t UP, It
ts 100 tna 9iaen nappens that the men who author
profess to perform them. The men who fix the
prices are substantially the men who receive
luc pay 1oT peIIOIullIS Uuc laOOr ana the men
who issue the bonds are the men who receive
the money
few weeks ago the "New York Tribuner
called attention to an excellent article on this
subject In the "Pri'ceton Revie,c," by Mr.. Robert
p. POI ter, in which it is shown that LEGAL debts
have, since the war, increased out Of all pro-
portion to the increase Of property and popula-
ton. Mr.. Porter shows that In one hundred
and thirty cities the debt increased from s22l.-
3l2c09 In 1866 to $644, ,S7S ,663 In 1876. In many
Instances 1t Is shown that the annual amount
OF Of interest INT paid by cities on their debts is
almost equal to the total annual expenses for
carrying on their local governments.
the urgent question that is now pressing for
consideration Is, how to deal with these large
and increasing local debts The best answer it
seems to me is simple, ready at hand, and
suffic1ent. Do not have any local debts Let 1t
be embodied In the constitutions and laws OF
every state, that local authorities shall create
no debts; that they shall make no approprIa-
tons OF money until 1t is collected and on hand;
that all appropriations shall be for specific OBJ
JectS, and that as to existing debts suitable
provision shall be made for their extinguish-
ment.
TO pay OF the old debts-to create no new
debtS-Wtll be difficult and embarrassing
valuable reforms ALWAYS are d!fticult and