Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1876-08-16
THE PRESIDENCY.
GOV. rILDEN's LETTER OF ACCEPTANCE.

IHE INEOfbENO1.
GOV. TILDEN's LETTER OF ACCEPTANCE
ALBANY, July 81, 1S7G.--GENTLEMEN
When l had the honor to receive a pcr-
sonal delivery of your letter on behalf
of the Democratic National Convcn'
ton, held on the 2Sth Of June, at st.
Louis, advising me Of my nomination
as the candidate Of the constituency
represented by that body, for the Of
fee OF President Of the United States,
ANNOUNCED that at my earliest convent
ence and in conformity with usage !
would prepare and transmit to you q
formal acceptance. Inow avail myself
OF the first interval in unavoidable oc-
cupations to fulfill that engagement.
Tho Convention before making its
nominations adopted q declaration Of
principles which, as whole, seems to
be wise exposition Of the necessities
of our country, and Of reforms needed
to bring back the Government TO its
true functions, TO restore purity Of the
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aul,''''ssin'ion ', anu " lonow 'ne P'os, .
Peri.y Vi 'no peoP'o' w. so'no VI .noso
REFORMS arc 80 uigen1 .na' lney o''''n
'h''io 'n''' P"s'h's app'o'"'
REFORM IN PUBLIC EXPENSE
Tho necessity of n reform in the
scale of public expense, Federal, State
and municipal, and in the modes OF
Federal taxation iustifes all the prom
inence given to it in the declaration OF
the st. Louis Convention.
The present depression in all the bu-
siness and industries OF the people
which is depriving labor of its employ
ment and carrying want into so many
homes has its principal cause in exces-
sive governmental consumption, under
the illusions Of specious prosperity,
engendered by the false policies OF tho
Federal Government. Awaste Of cap
ital has been going on ever since the
peace of 1865, which could only end in
universal disaster. The Federal taxes
of the last eleven years, reach the gi-
gantic sum of forty-five hundred mil
lions. Local taxation has amounted
to two-thirds as much more. The vast
aggregate is not less than soventy-five
hundred millions This enormous tax
alton followed a civil conflict that had
greatly impaired our aggregate wealth
and had made a prompt reduction of
expenses indispensable. 1t was ag.
gravated by most unscientific and i'll.
adjusted methods of taxation that in
creased the sacrifices Of the people far
beyond the receipts of the Treasury
TWAS aggravated moreover by finan-
cial policy which tended to diminish
the energy, skill and economy of pro-
duction, and the irugality Of private
consumption, and induced miscalcula-
tion in business ard in unremunerative
use OF capital and labor Even in pros.
porous times the daily wants Of indus
trious communities press closely upon
their daily earnings. The margin of
possible national savings is at best
small percentage Of national earnings.
Yet now for these eleven years govern
mental consumption has taken n larger
portion OF the national earnings than
the whole people can possibly save,
even in prosperous times, for all new
investments. Theconsequences OF these
errors are present public calamityi
but they were never doubtful, never
invisible; they were necessary and in
evitable and were foreseen and depict
cd when the waves OF that fictitious
prosperity ran highest. In speech
made by me on the 24th of September,
lSGS, twas saldof these taxes, "They
bear heavily upon every mans income,
upon every industry and every bu-
siness in the country, and, year by
year, they are destined to press still
moro heavily unless we arrest the sys-
TEN that gives rise to them. 1t was
comparatively easy when values were
doubling under repeated issues Of legal
tender paper money to pay out of the
froth of our growing and apparent
wealth these taxes, but when values
receue ana SINK TOWARDS tneir natural
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