The New Orleans Democrat., 1876-08-06
He Accepts the Candidacy and
Indorses the St. Louis
Platform.
"CUT DOWN YOUR EXPENSES AND
LIVE WITHIN YOUR INCOME"
The Insupportable Misgoyernment I'M
posed on the Southern States.
TME FINANCIAL QUESTION.
Absurdity Of the Republican Theory an'
Practice ON Resumption.
CIVIL SERVICE REFORM.
Ontces Not Private Perauisite, hut n
Public Trust.

VhNSSN NV sss" =
Public Trust.
Nrw YoRK Aug. 4.-The following is Cover.
nor Tilden's letter OF acceptance:
ALBANY. July 81. 1876.
Geuiif,pe,,-W When had the honor 10 receive O
personal delivery Of your letter on behalf ol
tte Democratic National Convention, held on
the 2sth OF June nt st. Louis. advising me ol
my nomination as the candidate Of tho constitu.
eney represented by that body for the Office oi
President Of tho United States. answered that
NJ my earliest convenience and IN conformity
with usage, | would prepare and transmit you
a formal letter Of acceptance. now avail my
self Of tho first interval In an unavoidable occu-
patton to fulfill that engagement. The conven.
tion, before making itA nominations adopted q
declaration of principles which,. rs a whole
seems 10 me u wise exposition Of the necessities
?f our country and Of the reforms needed to
bring back tho Government to its true functions
10 restore purity OF administration. and 10 re.
new the prosperity Of the people; but some Of
these reforms are so urgent that they claim
moro than u pa sing approval
REFORM IN PUBLIC gxpEssE.
expense. on V Fsdsral j. stats and m maSicipal, and II
the modes Of Federal taxation, iustifes all the
. sysa 70 hs Sass ssssFsSs 81 ss
which Is dspriyine labor 6f Its employment and
cipa 81 NJ
tion, Under the illusions of a specious pros
pertty engeDdered by the false policies of the
teupT8A uOVSIAHtSubrH n WufsAg OI GNUtLA4 R68 UeGu
going on ever since the peace cf 1895. which
could only end In ursiyer~al idisastbr.a The fel-
erai taxes of The .l,sst eleven wears reach the
local taxation has amounted to two.thifds as
much more. The yast aggfexato iB not less than
seyepty-gvs hundred Rillious 1bis enormous
mpaired our aggregate wealth, and had Ii,ads a
prompt reduction Of expenses Indispensable II
wgs aegIayated by. most unseientif}c aud III
adJnsted methods OF taxation that increased the
rtlcss of tho people far beyond tho reoeipts of
tho Treasury. II was aggravated. Moreover, by u
financial policy which tended to diminish tho
energy skill md economy of production, and
the frugslity Of private consumption. and in
duced mlsGalauati0n In business and an unre-
munerntive use OF capitnl and labor. Even in
prosperous times the daily wants Of industrious
communities press closely upon their daily
earnings. the margin of possible national saw
ings Is ut best small percentage OF national
earnings. yet now for these eleven years govern
mental consumption has been o larger portion
Of the national earnings than the whole people
cnn possibly save even IN prosperous times for
errors are now acute public calamity. but they
were never doubtful, nsyer invisible. they we 9
Spd s uSytabs we're foresSs9 and
prosperity ran highest, In u speech made BY. mo
on he oath Of .september. 1868, u was said Of
these taxes: They bear heavily upon every
business in tho country, and year by year thoy
are destined IN press still more heavily unless
we arrest the system that gives rise t9 them. 1t
doubling under ropeated iss1es Of legal tender
paper money. 10 bay ont 81 the froth of our,
growing and apparent wealth, hese taxes !;
thsir natural scale. ti,s tax AZ Weathsfer taxes taxes
from US not only our INCOME not only our pro
ats, but also portion Of our capital. ~ do hot
W. s canno M saord tss cosy % aud fanJas =" boIds 1
Of tho Raaiissi rhajofity ~ ig6nkfessG Ws esnftt
afford tflat policy toward tho South. We cannot
4ssm no sseh eas es HSss' i bsns
converted. We cannct afford the present mag.
scss 70 the Secretary sgats q
individual or q corporation. What you want 10
sf @H 9 would xSs snh se
demnin Of finance and fnanceering-I would
give the whole Of it for the Old homely maxim,
~ Lys s,h within =, yoar iae9ms This reform s VIII
persistenfiy. We SEQ today tho Immediate rsl,.
resentaiives OF the people In one branch Of Con
eomped 70 % confront fbo menace n ef the Senate
and Executive that unless tho Objectionable ap-
propiiations be consented 10. tho operations OF
the Government Hereunder shall suffer detri-
mo ~ or cease. "H#F
In my judgment. an amendment Of the Con
stitution ought to be devised separating into
departments Of the public service. and exeud-
Ing from Zach bill all appropriations for other
objects. and all Independent legislation. In that
two houses and Of the Executive be preserved
aud exempted from the moral duross which
often compels assent to Objectionable nppropri-
ntions rather than stop tho wheels Of Govern
msDt
THE SOUTH. ".
An accessory cause enhancing the distress In
business is 70 be found In the systematic and
the States of the South: besides the ordinary
effects Of ignorant and dishonest administration
II has inflicted apon them enormous issues OF
bonds, tho scanty ayails Of which
were wasted or stolen, aud the existence bf
which Is a public discredit tending to bankrupt
cy or repudiation; taxes generally oppres--
tho entire income OF property and totally
destroyed its marketable value IL IA NOT
possible that these evils should not re-
The nober motives Of humanity concur with
the material interests Of oil. II requiring that all
obstacles be removed to complete and durable
reconciliation between kindred populations.
once unnaturally estranged. on basis recog-
nized BY the 1T. Louis platform of the Constit,i-
ton OF the United States with It's amendments
accepted as a final settlement OF the
controversies which engendered the civil war
but In aid of aresnlt so benefcentthe legal In
nencs q eyeFy e,tizen e, r. vel as every gov
alone to maintain the just equality before the
law. but also TO establish cordial fraternul good
Will among citizens. whatever their race Or color
who are. now united in the one destiny of q com
mon self-governrnent. III the duty shall be as-
signed to me. / Should not fail to exercise the
powers with which the laws and Constitution Of
ect all its citizens whatever their former eondi-
ion, in every political and personal right
CUGREaCy REFORM.
Reform IL necessary, declares the st. Ionis
Convention, to establish Il sound currency re-
store tho public credit and maintain the national
lonOr. and IL goes Oh to demand jIdicioua sys-
em of preparation by public economies, by
,fficial retrenchmonts, and by wise finance,
yhich shall enabe the nation soon to assure the
whole world of its perfect ability and
Is perfect readiness TO meet any Of
II its promises ut the call of the creditor entitled
Q payment, The object demanded by the Con- |
'eDtioD Is a resumption Of specie payments on |
he legal tender notes Of the United States that /
would not only restore the public credit and |
national honor. but 1t would establish |
sound currency for the people The m thods |
~ which this object is TO be pursued and tho |
means by which It is 10 be attained are disclosed
~ what the Convention demanded In the future /
nd by what II denounced In the past bank /
lote resumption ot specie payments blythe Ciov-
rnment 81 the United States on its legal tender |
totes would establish specie payments by AN tDe 1
aDks on all their notes. Official statements on /
9Th May show the amount IT the BANK notes
vas s30O,0o0ooo less $4,000 90 held by them /
Gives; against these $3.50. 900 600 of notes the /
anks had Slil, 900 900 Of legal tenders or little
more than tity per cont. Of the amount but |
hey also had on deposit Ia the Federal Treas /
ry, as security tor those notes bonds Of tho /
Iuttpd Stateg worth I'm Al