The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-05
A SINGLE TERM FOR PRESIDENTS.
Governor Hendricks Takes UI
the Second Fiddle.
The Resumption Act Must Be Repealed
Local Self-Government-No Proscnp-
ton-The Common Schools.
NOW FOR THE CAMPAIGN.

ALBANY. July 81, 1876.
GESrLEMEy-when had the honor to receive per-
sonal delivery OF your letter behalf OF the Democratic
National Convention, held the 2Sth Of June at ST.
Louis, advising mo OF my nomination the candidate
OF tho constituency represented by that body tho
Office Of President of the United States answered
that at my earliest convenience, and conformity
with usage would prepare aud transmit to you
formal acceptance now avail myself OF the first in
terval unavoidable occupations fu that engage
ment
The Convention, before making its nominations,
adopted declaration OF principles. which, WHOLE
TO wiso exposition OF the necessities of our
country and OF the reforms needed bring back tho
government to its functions to restore purity Of
administration aud to tho prosperity OF tho pco
pc. But some OF these reforms urgent that
they claim more than passing approval
REFORM IN PUBLIC EXPENSE.
Tho necessity OF o reform in tho scale of public OK
pense-iederai, State and muncipsl"-and 'in tho
modes federal taxation us.nes all the prominence
given to Il In the declaration Of tho ST. Louis Conven-
tion.
Tho present depression In all tho business and In
dustres Of tho people. which dcpnving labor Of its
employment and carrying want into many homes,
has its principal cause In excessive governmental con-
sumption. Under the illusions Of specious prosperity
cngcndercd by tho false policies Of tho federal govern
ment waste OF capital has been going since
tho peace Of 1865 which could only end In universal
disaster.
Tho federal Of tho last eleven years reach tho
gigantic sum Of s. 800 100000 LOCAL taxation has
amounted to two-thirds rs much moro Tho vast ag-
grcgate is not less than 81, 500. 000, 900
This enormous taxation followed civil conflict that
had greatly impaired our aggregate wealth, and had
made prompt reduction Of expenses Indispensable.
1t was aggravated by most unscicntnc aad Had
uscd methods OF taxation that Increased the sacrifices
of people far beyond the receipts of tho Treasury
II aggravated moreover by q financial policy
which tended TO diminish tho energy. skill and
economy production and the frugay Of private
sumption, and induced miscalcuation In business and
an unrcmunerative use OF capital and labor.
Even in prosperous times the daily wants Of In
dustrous communities press closely upon their daily
earnings Tho margin of possible national savings is
at best a small percentage OF national earnings.
Yet now for these eleven years governmental con-
sumption has been a larger portion of tho national
earnings than the whole people possibly save even
In prosperous limos for all new investments.
Tho cons sequence OF these errors are now present
public calamity. But thcy never doubtful, ncvor
invisible. THEY were necessary and inevitable and
we're fcrcseen depicted when the waves Of that c
.tous prosperity highest In speech made BY
mo on the 24sh OF September, $685. SAID or these
taxes
They boar heavily upon every mans income, upon
every industry and every business the country and
year by year they are destined TO press still more
heavily unless arrest the system that gives 10
them II was comparatively easy when values wero
doubling under repeated issues OF legal tender piper
money, pay out OF tho froth OF growing and APP
parent wealth these taxes but when values and
sink toward their natural scale the tax gathcrcr takes
from US no. only our income. not only our profits, bu.
ala nnP n dn mt Oh
TO exaggcratc or alarm; simply say that cannot
afford the costly and runous policy OF the radical
jorty OF Congress We cannot AFFORD that policy
toward tho South. We afford the mag Ace nj
and oppressive centrasm into which govern ent
is being converted. wc cannot afford the present mag
ni1cent scale OF taxation.
To the Secretary OF tho Treasury said. carly In
1866
There Ii no royal road for governments moro than
for individual or corporation. What you want to
do now is to cut down your expenses and live within
your income. ] would give all the Icgerdcmain OF
finance and nnanccrng-I would give tho whole Of II
for The old, homcy maxim, Live within your
income !"
This viii DO resisted at every stcp bu, must
be pressed persisten,y. wo to-day the ediatc
representatives OF the people one branch OF Con-
grcss whilc struggling reduce expenditures, com.
PEELED to confront the menace OF tho Senate and tho
Executive that unless tho Objectionable arpropria-
tops be consented to tho operations Of the govern
mcnt Hereunder shall suffer detrimcnt cease
In my judgment. an amendment OF the constitution
ought to be devised separating into distinct bills tho
appropriations for tho various departments OF tho pub
lie service, and excluding from each bill all appropra
lions for other Objects and ali independent legislation
In that way aono the rcvisory power OF each Of
the two houses and OF tho Executive be preserved and
exempted from the moral durcss which often compcis
assent to Objectionable appropriations rather than stop
tho wheels Of tho government
THE SOUTH.
An accessory cause enhancing the distress in bust.
ness to be found in the systematic and nsupportabc
misgovcrnment imposed on the States OF the South
Besides The ordinary effects Of ignorant and dishonest
Is has inflicted upon them enormous
issues OF fraudulent bonds, the scanty avas OF which
were wasted or stolen, and the existence of which
public discredit, tending to bankruptcy reputation
Taxes. generally oppressive. in some instances have