Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-09-12
SWINGING THE CIRCLE.
The Administration on Its Travels--A ralk
to the Business Men OF Cincinnati.

Tho Administration on It's Travels-A Talk
to the Business Men Of Cincinnati.
CINCINNATI, o., Sept. 11.-President HAYES.
Gems. Sherman and Sheridan and Atty. Gen.
Devens visited the chamber of commerce this
noon. escorted by the reception committee.
The president of tho chamber welcomed the
President and party ina short speech. In
response President Hayes said: Friends, I am
very glad to meet this large assemblage of
business men of Cincinnati. Az business men
you do not want your time wasted, and it 30
happens that the committee which has charge
of me is composed Of business men, and thew
have marked out the term Of my visit in such
. way that must act by business principles
ana business methods during my stay with
you. In the position which l hold it has been
my desire to try and do something to bring IA
about that the government should be admiris-
tered upon business methods. can see plain
" as you do. and as all my friendly and nm
friendly critics do, the shortcomings and fall
ures, and perhaps see them more clearly than
others do, but my steady purpose has been tn
70 forward in the right direction. Though the
movement has been slow still can saw to INV
friends IN Cincinnati, l have honestly tried to
keep my face in the right direction. (Applause.)
One year ago took trip in the northwest-
ern States. This month propose to do little
visiting for recreation and health in the vest
ern States. year ago l found the people
gloomy and Respondent. There were few who
were hopeful, and very few who were confident
OF the speedy coming of better times. It
seemed to me last year, under these circum-
stances, the most good could be done by saving
cheering words, and encouraging hopeful
things, that whatever differences of opinion
there might be as to legislation looking to re-
sumption of specie payment, the wise thing,
as we were situated. was to let well enough
alone. 1t seemed to me to be wise to stop leg
lslating and quit tampering with the currency.
to let the business of the country have a fair
chance with the great resources which the coun-
try possesses, and with our boundless energy
the American business men could best
work out their own salvation. Fortunately
the country adopted that general view. The
business men of the country discouraged further
leglslatlon on the subject of currency, and we
are where We are. Without claiming any credit
for this or that secretary, or for this confer
ence' or the other, it does happen that specie
payments have come and good times are
coming with them. yrt
Coming West again, what is the thing to be
said to-day. 1t seems to be that dose of
the same medicine which brought better times
should be given to prolong better times
and put as far away as possible that inevitable
period when hard times shall come again, A
prominent English writer On political economy
has stated that there is regular periodicity in
the recurrence of hard times, that in England
they return in about ten years, and in this
country once in about twenty years. The de-
sirable thing is to keep the good times as long
as possible, and when under these inevitable
laws hard times must come, to have the calam-
ity bear as lightly upon us as possible.
Well, now, to this end it seems to me the
very plain and wise maxims of DR.. Franklin
should be applied. Where debts are least, and
where they are the least spread and where there
is the least over-production there they will
have hard times the least. I think this has
been exemplitied in the history of Cincinnati
in the last four years of depression. While
every city in the country has suffered more OF
less, and some of them very severely, Cincin.
natl with it's steady going business men has
felt it less than any other city in the country.
Let us; as far as may be, in public and in pri.
vate affairs, be diligent to see to it that when
hard times do come we are not weighted by
debts. Butt am departing from business prin.
oiples. and making speech. thank you fol
your kind reception.