"We are in a period when old questions are settled and the new are not yet brought forward. Extreme party action, if continued in such a time, would ruin the party. Moderation is its only chance. The party out of power gains by all partisan conduct of those in power"

Rutherford B. Hayes's quote shows a nuanced understanding of political characteristics throughout transitional periods. Hayes, the 19th President of the United States, served from 1877 to 1881, a duration marked by Reconstruction's end and the nation's gradual shift toward modernization and industrialization. Within this historical context, his observations attend to the nature of political parties and their methods during times of modification.

The phrase "when old concerns are settled and the brand-new are not yet advanced" recommends a duration of relative stability or stability, where formerly contentious concerns have been fixed to some degree, or are no longer at the forefront of the political agenda. Nevertheless, this stability is short-term, as new challenges are impending but have not yet fully emerged. Hayes indicates that throughout such a lull, political radicalism ("Extreme celebration action") can be destructive. He argues that pushing an aggressive or polarizing program in such times can be the failure of a political party that seeks to advance its concepts too powerfully or too far ahead of public sentiment.

"Moderation is its only possibility" points to political prudence and level-headedness as the best method, particularly when uncertainties linger and societal instructions are not completely specified. By practicing moderation, a celebration can preserve its influence and significance, preventing alienation from the electorate who might not be ready for severe changes.

The closing idea, "The celebration out of power gains by all partisan conduct of those in power", highlights a common political truth: when the ruling party participates in overtly partisan acts or divisive governance, it can inadvertently enhance the opposition. The out-of-power celebration can take advantage of any overreach or missteps, positioning itself as a more balanced option.

In essence, Hayes's reflection urges political actors to adopt restraint and foresight, acknowledging the fragile ups and downs of popular opinion as well as the prospective expenses of premature or excessive political maneuvers.