The New York herald., 1879-09-12
THE PRESIDENT ON .HARD TIMES"
HIS sPzEcH TO THE CINCINNATI CHAMBER OF
COMMERCE.

HIS SPEECH TO THE CINCINNATI CHAMBER OF
COMMERCE
CINcINsAr1, Ohio. Sept. IL, 1879.
President Hayes, Generals Sherman and Sheridan
and Attorney General Devens visited the Chamber of
Commerce this noon, escorted by the Reception
Committee The president of the Chamber well
coined the President and his party in short speech.
responding which the President after some intro
ductory remarks. said
In the position which hold it has been my desire
to try to do something to bring it about that the
government should be administered upon business
principles and by business methods. l can see
plainly. as you do. and as all my friendly and un-
and perhaps see them more clearly than others do
but my steady purpose has been to forward in the
right direction; though the movement has been
Cincinnst have honestly tried to keep
my face in the right direction. (Appause.)
States. This month propose do little visiting
for recreation and health. in the Western States.
There were few who were hopeful and very few who
were confident OF the speedy coming OF better times
1t seemed to me last year. under those circum-
stances, the most good could be done by saying
cheering, encouraging. hopeful things. that what
ever differences OF opinion there might be to
legislation looking to the resumption OF specie pay
ment. the wise thing, were situated, was to
let well enough alone. 1t seemed to wise to
stop legisiating and quit tampering with the cur
rency to let the business of the country have fair
chance; with the great resources which the country
possesses and with its boundless energy. American
business men can best work out their own solution.
Fortunately the country adopt d that general view.
The business men Of the country discour sged fur
ther legislation the subject of the currency. and
we are where we without claiming any credit
for this or that secretary tor this cortre the
other. it does happen that specie payments have
come and good times are coming with them.
PUTTING THx PACE ON IT.
Coming West again. what is the thing TO be said
medicine. which brought better times, should be
given to prolong better times and put far away as
possible that inevitable period when hard times
shall come again. prominent English writer on
political economy has stated that there is regular
periodicity in the recurrence Of hard times that in
England they return about ten years and In this
country once in about twenty years. The desirable
thing is to keep good times az long as possible,
and, when under these inevitable laws hard
upon us as lightly as possible Well, now, to this
end 1t seems to me the very plain and wide maxims
OF DR.. Franklin should be applied. Where debts
least and where they are most spread out and whero
there is the least overproduction, there they will
feel hard times the least think this has been
enplned in the history or Cincinnati. In the last
tour years of depression, while every city In the
country has suffered more less, and a them
very severely. Cincinnati. with its steady going
business men, has clt IL less than any other city of
the country Let no far may be, In public and
in private affairs. be ailigcnt to IL that when
hard times do come we are no weighted by debts.
nEcEPTIoN by Ex-coNGnEs sMAN eRoEsBEcK.
Tonight MIR. William y. Groesbeck, OF this city.
gave reception to tho President and mrs. Hayes
and Generals Sherman and Sheridan, at Elmhurst,
his elegant country residence on East Walnut Hills.
ut which there was present perhaps larger number
OF notable people than was ever together In
any social affair in Cincinnati Afew among the guests
may be mentioned. as follows Archbishop Purcell.
Governor bishop and stan, Judge Alfonso Taft. Mr..
Reuben Springer, Mr.. David Sinlon, Judge Nicholas
Longworh, General Andrew Hickcnlooper. Mr..
Aaron L. Perry, Mr.. Job Stevenson, Mr.. A. 4.
Goshorn. Senator Pendleton and wife. Mr.. Elliott
Pendleton, General Banning and wife, General Sam
ue f. Hunt. Mr. Murat Halstead, Mr.. RichardlSmith
and scores OF Others scarcely iess known. The
grounds we're handsomely illuminated for the occa-
sion.