The New York herald., 1876-07-30
THE FINANCIAL POLICY DEFINED.
How 1t Is Proposed to Obtain Surplus Of One
Hundred and Forty Millions.
WHAT SHOULD Be DONE WITH THE SOUTH

iecis he discuss are formed in his mind he
has not yet committed them TO papcr-at least in tho
succinct and proper order careful phraseology
which he wishes to employ his formal acceptance OF
the position OF standardbearcr of the party he
claims TO represent He wants TO have his po-
ston and purposes clearly and fully stated to the
country. The assumption that when he came
here yesterday he brought with him a rough
draft OF his letter for the purpose Of comparing
and splitting financial hairs and fixing up nice phrases
with Governor Hendricks. that both letters would
read like two parts of great State paper Is essentially
erroneous They did confer carefully and fully on the
general question Of the and some particular
points OF public policy, but neither letter has yet
been put in shape neither gentleman knows exactly
how the other intends to say his say when he
put in permanent form and rcvises 1t for publication
Governor Tidcn is astute enough to know that tho
republicans intend to make all tho political
capital they possibly can out OF his alleged
improper connections with certain railroad corporations
and the fact that all the no has been able to spare
from his imperative Official duties has been devoted
TO the preparation Of answers to all tho
accusations that have boen brought against him, in
cludng his answer to the of tho ST. Louis Alton
and Terrc Haute Railroad, which he is required to
make on tho first Monday in August However he has
now gonc homo to prepare his letter. 1t will be longer
than perhaps he himself would wish It might bc and
longer than probably anybody esc desires have it.
because he intends to elaborate discuss rs fully as
he can in such document certain questions OF public
policy.
rILpEN's FINANCE POLICY.
He sees the necessity Of meeting the financial
issue squarely and in going into tie canvass
he is anxious that the republicans shall
not have any undue advantage on the question Of a
sound and substantial currency therefore he will speak
UInCih ndI md f,1Iu
will take are that resumption OF specie payments
would naturally and speedily follow such a chnnge of
administration tho country requires, without any
specific action on the part OF Congress. Tho of
$l00 600 900 $50 0Oo 900 in gold would be sufficient
upon which to inaugurate resumption, because the
banks having as security for their speculation the
bonds of tho government, which could at any time be
turned into gold, they could redeem their currency
whenever called upon without Expressing their debtors
1t question of confidence the banks and in tho
government and this he is certain no can establish II
elected, after his Inauguration He believes that
the Of $3.50. 600 900 will be ample with whch to
commence the practical solution of the specie payment
question In this connection will take occasion to
denouncc tho bad faith OF tho party power In havi ng
for popular effect appointed tho 1st Of January 1s7o
as the date OF resumption whom, in fact, prcpara
tion has been made to put the promise into practice
On the contrary instead of accumuatnp specie for the
purpose Of resuming there is e-third or one
fourth less gold In the Treasury than there
when the act adopted by a repub-
lcan Congress accordance with the policy of
the administration; therefore, 1t Is palpab 10
fraud upon the people, by the republican party to
enact law and make practical provision for carry
ing 1t into effect He holds that there can be no such
forced resumption specified tme but that tho re.
suit which the majority Of tho people OF the country
undoubtedly desire will be naturally brought about by
the revival of industrial and commercial interests
tho reduction of the expenses of every
of the government
RIGID ECONOMY.
In order to provide surplus fund in tho Treasury
upon which to base resumption no favors
such rigid and large reduction OF ex.
penscs by sboshng useless Offices, suspcnoing
unnecessary public works such as new custom
houses post Offices and public buildings in Washing.
ton and elsewhere which the country does not abso.
lutey need present Tho annual expenditures upon
harbor Notifications, which are comparatively useless,
since We at peace with the world and in danger
OF foreign and the expenses of the and
navy can be materially reduced without impairng tho
Of these departments BY stopping extraya
giant and unnecessary outlays and aboshng the sys.
TEN OF fraud that hos been carried under The pres
cnt administration in the matter of public contracts
great saving can be made.
THE QUESTION OF REFORM
The general subject of reform will also he enlarged
upon Governor Tildcn's cttcr of acceptance which
will point out OF the principal ways means by
which 1t and should be effected. He will not
cxpatatc particularly upon tho question Of reform in
the Civil Service. because the general policy he pro-
poses will naturally include thorough reform in that
branch Of the administration OF tho government He
Of the employment and retention Of capable
and honest officers in every department
THE CONDITION OF THE SOUTH
and the execution OF tho laws in that well as in
every other section OF the Union will receive due con-
sidcration There is good to believe that Gov
ernor Tilden's Intentions substantially the same
views upon tho recent outragcs in the South as have
been expressed by the HERALD and that tho Hamburg
Sioux should be severely dealt with.
TERN PRINCIPLE
lie Is also quito accord with the HERALD upon the
one principle and will PROBABLY suggest that the
constitution be amended TO forever rest all
discussion that question These are some of tho
letter, which will fully udorsc every particular the
81. Louis platform.
HENDRICKS AND TrLpEy IN AccogD
Governor Hendricks is still at the Grand Union and
will remain here until after Governor Tildcn returns
with his letter OF acceptance which hc hopes TO have
ready by the middle OF next week. There Is unques-
onsblc authority for stating that while Tiden and
Hendricks hold different opinions upon some points OF
financial policy there will probably be no issuc be.
tween them on the vital issue. Hendricks has been
greatly impes by Tdcn's verbal statements on the
SUBJECT and they both accord upon hc necessity of
OF specie payments the policy
can carried without dctrmcnt to the interests
Of tho country Hendricks is waiting see Tilden's
views upon paper before he issues his manifesto.
aud both documents will probably be Published to-
gether. Hendricks has maintained that the House of
Representatives should pass bill In harmony with the
democratic platform respecting the repeal OF tho re-
sumption clause. But II 90 conceded
that Congress will adjourn without taking any action
on matter, although the Governor says he has no
Information from Washington on that subject lie
says he has alwavs held that currcncies OF different
evil 10 be Iemcdicd and ayoided. that