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.