U.S. GRANT.
SIXTH ANNUAL MESSAGE.
EXECUTIVE MANSION, _December 7, 1874_.
_To the Senate and House of Representatives_:
Since the convening of Congress one year ago the nation has undergone a
prostration in business and industries such as has not been witnessed
with us for many years. Speculation as to the causes for this
prostration might be indulged in without profit, because as many
theories would be advanced as there would be independent writers--those
who expressed their own views without borrowing--upon the subject.
Without indulging in theories as to the cause of this prostration,
therefore, I will call your attention only to the fact, and to some
plain questions as to which it would seem there should be no
disagreement.
During this prostration two essential elements of prosperity have been
most abundant--labor and capital. Both have been largely unemployed.
Where security has been undoubted, capital has been attainable at
very moderate rates. Where labor has been wanted, it has been found
in abundance, at cheap rates compared with what--of necessaries and
comforts of life--could be purchased with the wages demanded. Two great
elements of prosperity, therefore, have not been denied us.
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