The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-09-19
THE BUSINESS BOOM.
Facts and Figures Showing That
Honesty Is Always
the Best Policy.
President Hayes Makes a Speech on the
Subject at Detroit Yesterday.

wv AiSnIueuuh party was Iuet' MuyOE
LaDgdon welcomed the party in an I'D.
dress, which was responded to by the
President. General Sherman also made
a short address. At the landing several
thousand people were assembled, who
warmly greeted the President aud party.
The. party were then conducted in car.
riages to Ex-Governor Baldwin's mansion,
where they breakiasted and where tho
reception to the army officers Of this post
and citizens was held. At 1880 the
entire party reassembled and at II the pro.
cession was formed and started for the
Fair Grounds, at which place the party ar.
rived at l2:l0P. N. and were received by
VIM. 1, WILDER. President Of the State
Agricultural Society. The party was
escorted to the pavilion in the center Of
the grounds, where the President was
formally welcomed by Mr.. WILDER an d he
was then introduced TO the multitude and
made the following address: ~
FELLOW. CITIZENS OF MIcHIdAN-Reach.
ing Detroit only a few hours ago, can.
not, from personal observation, speak OF
the condition Of your agriculture, or Of
your mining, manufacturing and other
large business interests. The information
which l get, however, from the news.
papers and from conversations with intel.
ligent citizens, leads me to suppose that
the outlook for the laborer, the capitalist
and the people generally Is, in this State
at least as favorable as that Of the people
al kha NJ a. la TtRta IL "a
would expect from It's well known advan.
tages. Your State is almost surrounded
by the naVigable waters Of inland seas,
which communicate with many markets
in different States, and in countries be-
yond the ocean. 1t is midway, by the
best Of railway routes Of travel and trade,
between tho old and the new States. II
las mines OF copper and iron. 1t has
manufactures, salt and lumber, and raises
in abundance the most valuable crops and
animals which are produced in the north
temperate zone. 1t possesses q climate
which is healthfnl and friendly
to labor, and which gives vigor
and character TO men and women,
Satisfactory as the material resources OF
Michigan unquestionably are, they do not
constitute that excellence which perhaps
chiefly attracts the admiration, and pos
sibly excites the envy, OF your less for
tunate neighbors. All the world knows,
that when the list is made up OF the most
favored States OF this country, and Of the
most favored countries Of the Old World,
with respect to ducation-either general
education or the higher education-an
honored and very conspicuous place on
that list must be given to the State Of
Michigan.
A year ago, making a visit Of two or
three weeks to the West and Northwest,
| thought 1t might be useful TO speak or
the financial condition OF the country,
and to present hopeful view OF the sltua.
ton and prospects. The business de-
preston which followed the panic OF
1873 had then lasted five years; but there
were indications ofimprovement, and it
seemed to me that what was most needed
was confidence, and that q presentation
Of encouraging facts and figures would
tend TO inspire confidence. It was my
opinion, also, that there could be no per
manent revival Of business prosperity,
until the currency was placed upon
a sound basis, and was exchange
able at Its par value in the uni.
versally recognized money OF the world.
The friends Of the constitutional currency
generally believed that this end could
only be reached by the faithful execution
Of the resumption act; that there was no
need Of further legislation, and that the
true policy was 10 stop dnk eting with the
currency. Accofd ingly, tho pith of what
wished to say last year 10 audiences like
this was, thatwe ought b eetlesNell enough
Alone" Now the resumption of specie
payments hase come, and whit have come
also better,t timex. t.:se
The evidences Of good timesa Se numer.
Gus, palpable and cheering One bright
day in June aGst, nnpre steamers more
shipping Of al sorts path cred IN New
York harboFthan WnsieFetb before aaen in
that great mart Of commerce, and their
tonnage was IN greater excess compara-
lines Of the Pennsylvania Railroad east Of
Pittsburgh and Erie, for the first seven
months OF this year, as compared with the
same period in 1878, show an increase OF
gross earnings Of s., 20S, 294, an increase Of
expenses Of $3.50, 9S5, and an increase in
earnings Of $44s, 800; the lines OF the
Philadelphia and Reading Railroad (the
great anthracite coal road a net increase Of
81, $40, 900 for the same period. The --latest
published statement. Of the Erie Railway
Company shows o net increase OF S5S2, 900
for the first ten months OF Its current fs.
cal year, beginning in October last. II Is
esnma tI tnat more saan th 1aI nue.
81 fMtoaa Iach naXe I ,hltrsst9sy Z pee 2
lala tns Sear IN tne Sll1eo etAsesI
greater mileage t9a an IN tne same pe!ioo
IN any year slnee telS; orkets y non
aug s!ee1 Hnu tnelt puslness recovering %
rapidly from ils great depression, that
they are unable 70 MI their orders and
their annual Pr9dncaon Is likely soon %
snrpass he inquest figures ever reached.
me G,nliaing 81 iron, steamships N s l1g
eessl9i compenaon WIN Europe IS July