Page:The Presidents of the United States, 1789-1914, v. III.djvu/169

 RUTHERFORD BIRCHARD HAYES 135 the terrible and often fatal collisions which for several years have been of frequent occurrence, and have agitated and alarmed the public mind, have almost entirely ceased, and that a spirit of mutual forbearance and hearty national interest has suc ceeded. There has been a general re-establishment of order, and of the orderly administration of jus tice; instances of remaining lawlessness have be come of rare occurrence; political turmoil and tur bulence have disappeared; useful industries have been resumed; public credit in the southern states has been greatly strengthened and the encouraging benefit of a revival of commerce between the sec tions of country lately embroiled in civil war are fully enjoyed.&quot; He also strongly urged the resumption of specie payments. As to the difficulties to be met in this respect he said: &quot;I must adhere to my most earnest conviction that any wavering in purpose or un steadiness in methods, so far from avoiding or re ducing the inconvenience inseparable from the transition from an irredeemable to a redeemable paper currency, would only tend to increased and prolonged disturbance in values, and, unless re trieved, must end in serious disorder, dishonor, and disaster in the financial affairs of the government and of the people.&quot; As to the restoration of silver as a legal tender, which was at the time being agi tated, he insisted that &quot;all the bonds issued since