It is so in other branches. So it is not the want of capital. it is not the want of ability among our people to produce everything that is required. but a temporary overproduction that oppresses us. The present stagnation of business is due in a large measure. as I have stated. to the marvelous growth of our industries. the vast number of immigrants who have swelled the ranks of labor. the facility with which we have been able. thanks to the genius of our workmen. to produce articles of every kind and character. The supply has outrun the demand. This can not last long. but it will in the mean time compel us to practice those virtues which alter all are indispensable to the happiness which waits upon merited success at all times. that is. the practice of industry. sobriety. and economy.
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immigrants