Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1876-08-09

Until this morning had seen moth
ing III our journals expressive OF the !
views on this subject which ] have .
The communication in
to-day's Tribune over the signature
of 81. congresses the argument in
TO brief space. But there is so
much truth and such clear and strong
common sense commencing it to at
tention, that l hope it will be extern
sively read. And, what is still more
encouraging, your own editorial of
to-day seems to authorize hope that
at least one leading journal may come
TO see that there are two sides to the
silver question. T.W.
TsLDEN'S LETTER OF AcceP-
TANCE.
CHICAGO, August 4.-The following |
is Gov. Iildcn's letter, accepting the
nomination for President:
.a ALBANY, July 81, 1876.
GENTLEMEN.-When had the hon.
or to receive the personal delivery of
your letter on behalf of the Demo-
cratic National Convention, held on
the 18th of June, at st. Louis, adyis-
ing me of my nomination as the cam
didate of the constituency represented
by that body for the Office of Presi-
dent of the United States. / answered
that at my earliest convenience, and
i'll conformity with the usage, would
prepare and transmit to you my form
al acceptance. Inow avail myself of
the first interval in unavoidable oc-
equations to fulfill that engagement.
The convention before making its
nominations adopted a declaration of
principles which, as a whole, seems
to me wise exposition of the neces-
sites of our country and of reforms
needed to bring back the Government
to its true functions, to restore purity
of administration, and to renew the
prosperity of the people. But some
of these reforms are SO urgent that
they claim more than passing approx
al. The necessity of reform in the
scale of public expense, Federal, State
and municipal, and the modes Of Fed
eral taxation, justifies all prominence
given to it in the declaration of the
st. Louis Convention. The present
| depression in all business and indus
tries of the people, which is depriv-
ing labor of its employment and car
rying want into so many houses, has
| its principal cause in excessive gov
ernmental consumption under illu-
sions OF specious prosperity engcnd-
cred by the false policy of the feder-
al government. A waste of capital
has been going on ever since the
peace of 1865 which could end in
universal disaster. The federal taxes
of the last Ii years reach the gigantic
sum Of 81, 100000. The local tax
alton has amounted to two thirds as
much more.
The vast aggregate is not less than
81, 500, 100000. This enormous taxa
ton followed a civil conflict that had
greatly impaired our aggregate
wealth, and had made a prompt re-
duction of expenses indispensable. 1t
was aggravated by the most unscien-
tific and ill-adjusted methods of tax
alton that increased the sacrifices of
! people far beyond the receipts of the
I Treasury. 1t was aggravated, more
over, by a financial policy which tend
, ed to diminish the energy, skill and
economy of production and frugality
of private consumption, and induced
miscalcnlation in business and un.
remunerative use of capital and labor
even in prosperous times. The daily
wants of industrious communitie:
press closely upon their daily earn
/, ings. The margin of possible nation
i al savings, is at best small percent
, age OF the national earnings. Yet fol
! these eleven years the governmental
consumption has been larger
> portion of the national earning!
: than the whole people can possibly
save even in the most prosperous
times for all new Investments
y In consequence, these errors are al
> present a public calamity, but the,
: We're never doubtful, never invisible
They were necessary and inevitable
!, and were foreseen and depicted when
the waves of that fictitious prospect.
, ty was the highest. Ina speech made
by me on the oath of September, 1868,
f, it was said of these taxes: They
/, bear heavily upon every mans in
come, upon every industry, and upon
: every business in the country. and
year by year they are destined to
d press still more heavily unless they
arrest the system that gives rise to
them. 1t was comparatively easy
when values were doubling under re.
pcated issues of legal tender paper
money to pay out of the froth of our
growing and apparent wealth these
) taxes, but when values receded and
sink toward their natural scale the
tax atherer takes from us not only
our income, not only our profits, but
: also portion of our capital.
l do not wish to exaggerate or a.
larm, l simply say that we cannot af-
ford the costly and ruinous policy OF
Radical majority in Congress: we
, cannot afford that policy towards the
South; we cannot afford the magnifi-
cent and oppressive centralism into
which our government is being con-
verified. We cannot afford the present
magnificent scale of taxation. To the
Secretary of the Treasury said early
: in 1860, there is not a royal road for
the Government more than for an
: individual or corporation. What
| you want to do now is, to cut down
, your expenses and live within your
income. l would give all the leger-
demain of finance and tinan ciering,
t l would give the whole of it for the
old, homely maxim olive within your
income This reform will be resist
ed at every step, but it must be press
ed persistently. We see to-day the
immediate representatives of the peo-
pie in one branch of Congress,
while struggling to reduce the expen-
ditures, are compelled to confront the
menace of the Senate and Executive
that unless Objectionable appro-
: priations be consented to the opera
tons of the Government Hereunder
, shall suffer detriment or cease. In
my judgement an amendment of the
Constitution ought to be devised sep
arating into distinct bills the appro-
priations for the various departments
of the public service and the exclu-
sion from each bill all appropriations
for other objects and all independ-
ent legislation. In that way alone
can the revisory power of each of the
two houses and of the executive be
, preserved and exempted from moral
: duress, which often compels assent to
$ Objectionable appropriations rather
than stop the wheels of government.
: An. accessory cause enhancing dis
: tress in business is to be seen i'm the
e systematic and insupportable misgov-
! eminent imposed upon the States OF
1 the South, besides the ordinary eff
} fleets of an ignorant and dishonest
: administration. 1t has inflicted upon
: them enormous issues of fraudulent
: bonds, the scanty avails of which were
G wasted or stolen, and the existence
of which is public discredit, tending
: to bankruptcy or reputation.
y Taxes generally oppressive, in
: some instances have confiscated the
: entire income Of property, and total
ly destroyed its marketable value
> 1t is impossible that these evils should
: not react upon the prosperity Of the
D whole country. Nobler motives OF
u humanity concur with the material in.
terests OF all in requiring that every
e obstacle be removed to complete and
q durable reconciliation between kin.