HARD TIMES AND THE WAY OUT.

* Boston, October 20, 1878.

LADIES and Gentlemen:—The lovers of the human race, the philanthropists, the dreamers of grand dreams, all predicted and all believed that when man should have the right to govern himself, when every human being should be equal before the law, pauperism, crime, and want would exist only in the history of the past. They accounted for misery in their time by the rapacity of kings and the cruelty of priests. Here, in the United States, man at last is free. Here, man makes the laws, and all have an equal voice. The rich cannot oppress the poor, because the poor are in a majority. The laboring men, those who in some way work for their living, can elect every Congressman and every judge; they can make and interpret the laws, and if labor is oppressed in the United States by capital, labor has simply itself to blame. The cry is now raised that capital in some mysterious way oppresses industry; that the capitalist is the enemy of the man who labors. What is a capitalist? Every man who has good health; every man with good sense; every one who has had his dinner, and has enough left for supper, is, to that extent, a capitalist. Every man with a good character, who has the credit to borrow a dollar or to buy a meal, is a capitalist; and nine out of ten of the great capitalists in the United States are simply successful workingmen. There is no conflict, and can be no conflict, in the United States between capital and labor; and the men who endeavor to excite the envy of the unfortunate and the malice of the poor are the enemies of law and order.

As a rule, wealth is the result of industry, economy, attention to business; and as a rule, poverty is the result of idleness, extravagance, and inattention to business, though to these rules there are thousands of exceptions. The man who has wasted his time, who has thrown away his opportunities, is apt to envy the man who has not. For instance, there are six shoemakers working in one shop. One of them attends to his business. You can hear the music of his hammer late and early. He is in love with some girl on the next street. He has made up his mind to be a man; to succeed; to make somebody else happy; to have a home; and while he is working, in his imagination he can see his own fireside, with the firelight falling upon the faces of wife and child. The other five gentlemen work as little as they can, spend Sunday in dissipation, have the headache Monday, and, as a result, never advance. The industrious one, the one in love, gains the confidence of his employer, and in a little while he cuts out work for the others. The first thing you know he has a shop of his own, the next a store; because the man of reputation, the man of character, the man of known integrity, can buy all he wishes in the United States upon a credit. The next thing you know he is married, and he has built him a house, and he is happy, and his dream has been realized. After awhile the same five shoemakers, having pursued the old course, stand on the corner some Sunday when he rides by. He has a carriage, his wife sits by his side, her face covered with smiles, and they have two children, their eyes beaming with joy, and the blue ribbons are fluttering in the wind. And thereupon, these five shoemakers adjourn to some neighboring saloon and pass a resolution that there is an irrepressible conflict between capital and labor.

There is, in fact, no such conflict, and the laboring men of the United States have the power to protect themselves. In the ballot-box the vote of Lazarus is on an equality with the vote of Dives; the vote of a wandering pauper counts the same as that of a millionaire. In a land where the poor, where the laboring men have the right and have the power to make the laws, and do, in fact, make the laws, certainly there should be no complaint. In our country the people hold the power, and if any corporation in any State is devouring the substance of the people, every State has retained the power of eminent domain, under which it can confiscate the property and franchise of any corporation by simply paying to that corporation what such property is worth. And yet thousands of people are talking as though the rich combined for the express purpose of destroying the poor, are talking as though there existed a widespread conspiracy against industry, against honest toil; and thousands and thousands of speeches have been made and numberless articles have been written to fill the breasts of the unfortunate with hatred.

We have passed through a period of wonderful and unprecedented inflation. For years we enjoyed the luxury of going into debt, the felicity of living upon credit. We have in the United States about eighty thousand miles of railway, more than enough to make a treble track around the globe. Most of these miles were built in a period of twenty-five years, and at a cost of at least five thousand millions of dollars. Think of the ore that had to be dug, of the iron that was melted; think of the thousands employed in cutting bridge timber and ties, and giving to the wintry air the music of the axe; think of the thousands and thousands employed in making cars, in making locomotives, those horses of progress with nerves of steel and breath of flame; think of the thousands and thousands of workers in brass and steel and iron; think of the numberless industries that thrived in the construction of eighty thousand miles of railway, of the streams bridged, of the mountains tunneled, of the plains crossed; and think of the towns and cities that sprang up, as if by magic, along these highways of iron.

During the same time we had a war in which we expended thousands of millions of dollars, not to create, not to construct, but to destroy. All this money was spent in the work of demolition, and every shot and every shell and every musket and every cannon was used to destroy. All the time of every soldier was lost. An amount of property inconceivable was destroyed, and some of the best and bravest were sacrificed. During these years the productive power of the North was strained to the utmost; every wheel was in motion; there was employment for every kind and description of labor, and for every mechanic. There was a constantly rising market—speculation was rife, and it seemed almost impossible to lose. As a consequence, the men who had been toiling upon the farm became tired. It was too slow a way to get rich. They heard of their neighbor, of their brother, who had gone to the city and had suddenly become a millionaire. They became tired with the slow methods of agriculture. The young men of intelligence, of vim, of nerve became disgusted with the farms. On every hand fortunes were being made. A wave of wealth swept over the United States; huts became houses; houses became palaces with carpeted floors and pictured walls; tatters became garments; rags became robes; and for the first time in the history of the world, the poor tasted of the luxuries of wealth. We wondered how our fathers could have endured their poor and barren lives.

Every business was pressed to the snow line. Old life insurance associations had been successful; new ones sprang up on every hand. The agents filled every town. These agents were given a portion of the premium. You could hardly go out of your house without being told of the uncertainty of life and the certainty of death. You were shown pictures of life insurance agents emptying vast bags of gold at the feet of a disconsolate widow. You saw in imagination your own fatherless children wiping away the tears of grief and smiling with joy.

These agents insured everybody and everything. They would have insured a hospital or consumption in its last hemorrhage.

Fire insurance was managed in precisely the same way. The agents received a part of the premium, and they insured anything and everything, no matter what its danger might be. They would have insured powder in perdition, or icebergs under the torrid zone with the same alacrity. And then there were accident companies, and you could not go to the station to buy your ticket without being shown a picture of disaster. You would see there four horses running away with a stage, and old ladies and children being thrown out; you would see a steamer being blown up on the Mississippi, legs one way and arms the other, heads one side and hats the other; locomotives going through bridges, good Samaritans carrying off the wounded on stretchers.