The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1879-10-18
VOLUME VIII. J
sTKNFFt1 Ttt11 FltI7
SPEECH
10 MosteTus I'll -! Hem CT 70
HON. THOS. A. HENDRICKS,
sN<A6-N.E a y
OF INDIANA,
Delivered at Eaton, Ohio.

m%10 q
FELLOW CITIZENS: need not remind you
that during the years following the close Of the
wwyccf fsfndswere disturbed bf themost pro-
found anxiety fqr, the, public welfare There
was no more work fer the sword Overcome
and disbanded, the troops Of the South had re-
turned to their homes Acquiescence in Fed
eral authority was complete and universal
Yet you fesrsd that the feeohclistiori might
not be thorqhsh and permtual; that dangerous
causesof alienation might stfll remain. But
you were compelled .and perhaps coptent to
trust-as You did rustAthe possibility of fra
ternity and union to the wisdom of public pol
ices and TO the good sense and patriotism of
the people; and, Notwithstanding the follies
anderimes Of some, and the wicked demagog-
ism Of others, arousing dangerous passions
thetw ere sleeping, feel assured that your re-
lance upon yourselves and your fellow -coun-
trymen will not fail you, but that fraternity
and union will grow with the growth and
strengthen with the strength of the country
You were also selicitous for our material well
faie, because Of the exhaustion caused by and
INlowipg the tremendous struggle. The pro
dpctlpn of our important and great staples
could not be maintained in quantities sufficient
tdneet the demands upon our resources Our
enearrassment and the hindrance to produc-
uon were greatly augmented by the unfortu-
nate policy of reconstruction, whereby for
awhile the relation of the States to the Federal
Union were confused and COMPOUNDED, and the
white and black faces were involved in dis
trust, hatred, and strife. Tho mad policy and
psesiens of The times excluded capital from ap
entire section Of the country, and disturbed La
b9ruin its employment@ The direct, the newt
was heayayysssinsns. My { stste he H factS
as an illustrat.ong During the two wears and
esvyens rncntns rom .July1 fsg5 to Ma; 81,
is6s. IMPORTS, Waived IN our own currency,
apeAiiedto k59a4islesb aud our exports
under the Fame VA usif,n, apiot1nted TO I,1l1,-
xAfss, 1885, During thatperiod of two years and
eleven uonths. after the close of the war, our
apurchs SOS exceedel orr sales abroad by the en-
ormous sum of s1S6.0Oo.000. .lifl-r
/ SUPPOSE that balance against, us was met
largely ~ sales of our public Securities abroad
eut ddrnfs that sam period, we exported over
END above our imports OF gold and silver
slS3U77 dstfa li& fhens thought and 20 ex-
pressed The opinion, that our future prosperity
must depend upon AN increase of production
and mofes advantageous foreign trade that
when our sales should exceed our purchases
abroad, our finspeal difficulties would rapidly
disappeaF, and we would soon stand upon a
speeIe basis, and that to such end we wanted
peace, reconciliation, and harmony. thoueh t
and ssid that craftsmanship worthy this
country and adequate to the necessities of our
condition would seek evert opportunity 10
foster and increase the production of the sta.
pies thst~eommaml foreign markets. And
ventured the opinion that +" an increase of 20
per cent would turn the balance of trade in
ourfaaor, and the current of gold toward our
',wn shores, and cont ibuts more than any en-
actrnent of Congress to an early resumption of
specie payment" need not remind Won for
itcannot be effaced from your memories. that
no benehcent change in policy or ajmiuistra-
lion took place, bat that in 500 and thence to
1913 and 1874 the.sympathies of the administra-
ton and the policies of Congress were alto
gather favorable to those who lie ct needed
favor, and hard upon the masses, who have
the burdens to carry. The changes in the pub
lie contracts weresuch as made The obligations
harder add the burdens heavier, save only the
provi don for reduction Of interest
Favoritism, extravaganza and corruption
pervaded snd poisoned the public service and
went unrebuked and unchecked. Unnecessary
land extrsvagapt expenditures burdened the
people with oppressive taxes and withdrew
large volumes of currency from the channels
ofstrade, and added to the evis of contraction
Finally, IN the fall Of 1873 the evils of vicious
administration and Of unequal and unfair legis-
lation eliminated in a financial auto and dis
aster that struck and paraly2t all the business
pursuits and useful enterpri. es of the country
LAT once the people realized the extont aud mag
rnitude of the calamity. They abandoned faith
randhope in the Republican party, and trusted
to themselves for the recovery of lost prosper
ity.. Promptly and earnestly the work was un-
isdertakeh Eighteen hundred and seventv-four
became memorable year. A Democratic
sHoueeswas chosen, charged with the duty of
retrenchment and reform In every household
an ecOnonygwas adopted more rigid thou ever
before known. Labor was active and diligent
'tothe utmost extent Of possible employment
The results are NOW seen and realized Indi-
vidual economy, Practieed every where through
out the country, had the effect TO reduce our
purchases abroad as follows: From 1873
e ss ls tss EsssYs va AZ fSs Ss s1 from m
.zA6as; saas64o45; from iS76 to ls77, sa4is ,oe5.
E9R1Eom 1877 to 1875 the reduction was ga
M,53A& The economy OF the people 1873 as
&onp&4 with 1873, in the consumption of
ybfNgd pds. was about 500. oou.eO0.
Durf The same period the d'gent industry
0Lthe r6pple 80 increased our agricultural pro-
mio1 nd such was the condition OF the
11 Mhrket, thatou exportsfor sale abroad
In l9f6 we're $l72, 1863, l39 more than in 1878,
~4nd III the year 1873 otr exports of merchan-
di4e exceeded our imports by the sum Of $751;
796, 94. tits q striking fact that in 1878, the
year before the Democratic House was chosen,
our purchases exceeded our sales abroad by
,2sS ana that after three years Of Dem
ocratic control of the House the figures we're
reversed, and, as / have said the exports in
the year 1878 exceeded the imports by $751;
793, 1854. The balances against us in 1872
marked the increase of cur indebtedness, and
the figures of 1865 indicated its reduction.
,g-s Our exports of merchandise during the years
1874 1875 1877 and 1878 exceeded our imports
insthe surnrof $685. 449, 536. am not able TO
give accurately theexcess of the present year,
but Ieuppose it is safe to state it at $24O VOo-
ca A21ng $4S .e36 for the five years
hamed In these statements l rely upon the
tablespsepafed by Mr.. Spofford. the Librarian
of Congress. ~ r lt.ft
ssszThe effect of the favorable condition OF our
sforegn ytra 1elupon our supply OF gold and ST.
yer Is shown in the fact that in 1873 the export
of specie exceeded its import by the sum Gf
SOS 127,6S7, and that IN 1878 the excess was only
1901 Oil Our favorable foreign trade has
6, not only turned the current of specie toward
our shores, but it has caused the return OF
large volumes of public securities that had
cune abroad to meet the balances when they
were against us, thus reducing the export OF
gold to meet the accruing interest The ef-
feet of foreign trade during the past five
wears. favorable to us beyond all precedent,
and brought about by the economy and dill
GENT industry OF the people, has been to IN
crease our supplylot gold and silver and to
make it permanent and reliable, and to make
therssumptipn Of specie payments apossibility.
." Mr. Sherman elaine for himself the credit OF
resumption, and that the policies of his party
have given MS assurances of better times
have made summary Of events that passed
within your own observation t., aid you IN pass
ing upon the fa'lacy of that claim What had
= lie or his party to do with resumption? How
have they contributed to q return of prosper
tyr In the winter of 1875 Mr.. Shermaps as
The Representative of party caucus, reported
" And urged the Resumption bill IL became
- law BY the vote of all the Republicans, and
over the vote against il OK all the Democrats in
Congress Who nov claims for that measure