The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-12-30
Views of the Distinguished Pennsylvania as
to the Causes and the Remedy for the
Existing Business Depression.
The South Congratulated on It's Busie
ness and Industrial Growth.
The Surplus in the Treasury Should Be Used
in Purchasing Government Bonds, and
Internal Taxes Should Be Abolished.
AT THE BOARD OF TRADE.
Ir. Randall Talks of the Causes and Cure foT
the Business Depression.

}Ir, randall talks OF the Causes ana cure lOt
the Business Depression.
LOUISVILLE, Dec. pa large crowd of repre-.
sentative business men gathered at the Board Of
Trade rooms to take part in the reception to
Congressman Samuel J. Randall at noon to-day.
Among the notables who were present were
Captain Silas J. Miller Colonel J. Faulkner,
Colonel James t. Buckner, jr., Captain NJ F.
Fishback, D. L. Graves, General Green Clay
Smith and Bishop I. U. Dudley. Others in at
tendance were John G. Roache, Judge Harlan,
Major Clint McClarty, Ex-Governor Luke P.
Blackburn, Senator Rodney Hagg ard, of Clark.
county, Lewis Barkhouse, Henry T.
Jefferson, J. B. Richardson George Gilbert, ].
A Mum, Judge Flanagan, of Clark county, DR..
w. B. Caldwell, John Brannin, Jacob Kaiser,
John Byrne John Dodd, John D. Taggart, John
T. Moore and Rev. Dr. Humphrey.
This morning Congressman Randall break
tasted at the residence of Mr.. John E. Green.
At breakfast were present, by invitation, Con-
gresham McAdoo, Bishop T. u Dudley, Major
", J. Wright Colonel c, E. Sears, Albert Fink
and General Basil W. Duke.
1t had been announced that Mr.. Randall would
arrive at the Board of Trade rooms promptly at
u o'clock. Half an hour before the ap
pointed time the room in which
the reception was to take place was per-
feet jam. In one place stood a stanch Re-
publican leader, and by his side was loyal
Democrat; men from the country, with clay
covered boots and hayseed whiskers, made their
presence felt by elbowing their way through the
crowd. Besides the others who have been
mentioned there was packed delegation of col
fops III 10
The big crowd of substantial citizens behaved
like lot of gallery gods in a theater Mr.
Randalls arrival was slightly delayed, and the
crowd expressed its impatience by humping the
floor with canes and raising noisy disturbance.
Mr. Randall and his party appeared at 1245.
The passage about the doorway was crowded so
much that it found very disagreeable to
pass in at that point, and Mr.. Randall found it
necessary to enter through window from the
committee-room to the platform which had been
arranged for the speakers. Close behind Mr..
Randall. who walked beside Mr. Green, was
Congressman McAdoo The party were accorded
a hearty reception In his words of welcome,
Mr. Green was very complimentary to Mr. Ran
dali He said that the visitor was engaged
in an honorable and commendatory task,
business men and laborers everywhere;
that it was his mission in the South to acquaint
himself with business in its prosperity and de-
preston, that he might be the better qualified
to assist in national legislation. and advance
measures in relation to che important question
of tariff thai wonld adequately and satisfacto-
rily meet the wants of the people. Mr. Green
felt confident that the incoming administration
would assert itself benefcially for all parties
concerned,
AT the conclusion of his remarks, Mr.. Green
introduced Mr.. Randall. There was a wild
clapping of hands, and after the excitement died
away MI Randall advanced to the front of the
platform, and in a slow, measured voice began a
a speech of twenty minutes. While he spoke,
Mr.. Randalls right hand explored the depths of
his pantaoons pocket He said
'Mr. President and Gentlemen of the Board Of
Trade, of Louisville: Reared, as | have been, in
mercantile life like most of those around me,
you can understand why appreciate more than
might be under different relations, The honor
which this body of men tender, and L say that
it is proper in the outstart, that you, being a
body of men composed of persons of every po-
litical party, should be given to understand that
| am here present to-day without any personal
political motives / come among you to witness
for myself and study the details that prevail in
the great South in the business relations that it
bears to the country. We are passing through a
period of great depression, and, as | think,
can show that this depression is phenomenal in
its character, and unlike all others that have
preceded it In the United States
I'm what is known tho panic OF 1887,
which know of only, perhaps, from reading and
hearsay. there was antecedeut to that period,
for seven years, a balance OF trade against the
United States aggregating $l50 coo 600 in value.
Again, in 1857, the panic of that year was pre-
ceded by eight years of adverse trade against
the United States in foreign countries aggre
eating $3.50, 600, 900; and the more recent panic
of 1873 came upon us after ten years of balance
Of trade against the United States, ascregGting
800, 900, 900 in value, and yet to-day we are in
the midst of a depression when, for the last nine
years, the balance of trade has been in favor
Of the United States to the extent of
II 800, 600 600 and therefore we cannot measure
our present depression in business by those
rules of TRADE which have indicated rs con-
trolling, in my judgment the pauics of prior
years. 1t is due to your intelligence that
should give you the reasons which. | think have
controlled to bring us to our present trade con
dition. | consider that it is an exhaustive
tax. and, to some degree trade restrictions
which out to be swept aside. Cheers, The
government should be administered econom-
ically, and there ought not to be collected
dollar of revenue from the people
Of the United States in excess of
that which is necessary to economically admin
ister the government of this people Cheers,
1t is trite saying, and some of us have realized
the truth of it, that a man who spends more
money than he makes will become embarrassed;
and say that according to my judgment a coun-
try which imports more than it exports must
become embarrassed
"The great object of government, to FREQ
people like ours, is to have such laws enacted,
and honestly and intelhgently administered, as
will promote the great objects of the trade and
commerce of the country Cheers, l feel
that when I am here am among
the representatives of the energy
and the enterprise of the gateway OF tho South
in her industrial relations. l am hero, as said