Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1876-08-19
TtLDEN'S LETTER OF ACCEPTANCE,

! VI souI leCler on Donalf OF the
Democratic National Convention, held
on the 2Sth of June, at st. Louis, ad-
vlslng me OF my nomination as the can
dldate for the constituency represented
by that body for the office of President
OF the United States, / answered that at
my earliest convenience and in conform
lty with usage, I would prepare and
tfansmlt'to you my acceptance. now
avail myself of the first interval in occu-
pations to fulfill that engagement. The
convention, before making its nomina-
tlons, adopted g declaration of princi-
pies which, as whole, seems to me q
wise exposition of tho necessities of
our country and of the reforms needed
to bring back the Government to it's true
functions, and to restore the purity of
the administration and to renew the
prosperity OF the people; but some of
these reforms are SO urgent that they
claim more than q passing approval.
The necessity of reform in the public
expense, Federal, State and Municipal,
and modes of Federal taxation justified
all prominence given to it in the declar-
alton of the st. Louis convention. The
present depression in all business and
industries of the people, which is de-
priving labor of its employment and
carrying want to so many, has its prin-
clpal cause III the excessive Foverment
consumption, under illusions oi spe-
clous property, engendered by facts.
The policy of the Federal Government
wasting capital has been going on
ever since 1865, which could only end
in universal disaster. The Federal tax.
es OF the last eleven years reach the
gigantic sum of four thousand five
hundred millions OF dollars; local tax
alton has amounted to one-third as
much more; the vast aggregate being
not less than seven thousand five hun
dred uii!ions. This enormous taxation,
followed the civil conflict that had
greatly impaired our aggregate wealth,
and had made prompt reduction of ex-
pense impossible 1t was aggravated
by such uDscientific and ill-adjusted
methods of taxation that the increased
sacrifices of the people were beyond
the receipts. Itwas an aggravated fnan-
cial policy which tended to dimin-
ish the energy, skill and economy of
production and frugality Of private con-
sumption, and induced miscalculation
in business, and an unremunerative
use of capital and labor. Even in pros
porous times the daily wants of industri-
GUS communities press closer upon their
daily earning. The margin of possible
national savings is at best small per
centage of the national earnings, yet
for these eleven years the Government
consumption has been larger portion
of the national earnings than the whole
people can possibly save even in pros
porous times. For all new invest
ments the consequences of these errors
are now present public calamity; :;
but they were never doubtful, never in
visible; they were necessary and inevi-
table, and were foreseen and depicted
when the waves of that ficticious pros
perity ran highest.
In speech made by me on the Oath
of September, 1868, it was said of
these taxes that they bear heavily on
every mans income, upon every indus
try, and upon every business in the
country, and year by year they are des-
tined to press still more heavily unless
they arrest The system that gives use to
them. 1t was comparatively easy when
values were doubling under the repeat
ing issue of legal tender paper money
to pay out of the froth of our growing
and apparent wealth these taxes, but
when values recede and sink toward their
natural scale the tax-gatherer takes
from us not only our income, not only
our profits, but also q portion of our
capital. I do not wish to exaggerate OF
alarm, I simply say that we cannot af-
ford the costly policy Of the Radical
majority of Congress; we cannot afford
that policy towards the South; we can
not afford that magnificent and oppres-
sive centralism into which our Govern
ment is being converted; we cannot af-
ford the magnificent scale of taxation.
To the Secretary of the Treasury I said
early in 1865, there is not royal road
for the Government more than for an
individual or corporation; what you
want to do now is to cut down your ex-
penses and live within your income;
would give all legerdemain of finance
and ,financiering, would give the
whole of it for the old homemade max
i'm of Live within your income. This
must be pressed persistently. We see
o-day immediate representatives of the
people in one branch of Congress, strug.
Cling to reduce expenditures, compelled
to confront the: menace of the Senate
and Executive; and unless Objectionable
appropriations be consented to, opera
!, tions of Government hereunder shal
t suffer detriment or cease. 1 think al
/; amendment to the Constitution shoulc
be devised separating into distinct
bills appropriations for the various de
E partments of public service, and ex
cluding from each bill all appropriation.
: for other objects and all Independent
! legislation. In this way alone can til,
+ revisory power of each of the two
Houses and of the Executive be pre-
!. served and exempted from the mora
e distress which often compels to assent t.
# objectional appropriations, rather thar
g stop the wheels of the Government. Al
!; accessory cause enhancing distress il
= business is to be found in the systemat
n ic and insupportable misgovernmen
imposed upon the States of the South
i besides the ordinary effects of an igno
y I..A II .l:,l,orock or ~; n Of IA f1on