The Republican journal. [volume] (Belfast, Me.) 1829-current, 1876-01-27
Gov, Tilden on Finance and ECONOMY

Gov Ttlden on Finance and EconOmv
In his annual message to the Legisla-
ture of New York, Gov Tilden discusses
the financial and business condition of the
country in manner that must commend
itself to the thinking men of the country
We make the following extracts
Eleven years ago our country emerged from
vast civil conflict, in which its aggregate
wealth had been impaired to the extent of
probably 81 900, 900 600 by q governmental con-
sumption exceeding the whole net income of
the people, to say nothing of the destruction of
property, industries and productive capacities
incident to military operations. Never was it
more necessary that peace should bring heal
ing on its wings. To replace the capital de-
stroyed, to restore the elements of future nat
ural growth, should have been the object of
our policy. prompt reduction of the enor
NOUS governmental expenditure was the first
condition. A renewal of the industries of the
great communities of the South which produce
SO large Il share Of our exports and raw mate
rial, was of great Importance. Energy, skill
and economy in production, and frugality in
private consumption, the wise conduct of bust
ness and q ludcious application of capital and
labor were essential. These chief elements of
private prosperity were dependent upon pub
lie conditions. They Were to be promoted by
sound government finance. by good methods of
revenue-not unduy swelling the cost of the
taxes to those who pay them beyond their pro-
duce to the treasury by a discreet manage
ment OF our vast fiscal operations. and of the
currency and of the banking system: by sober
and stable governmental policy-not stimulat-
ing TO speculative adventures, not melting mis-
calculations in business not enhancing charges
for services and risks in commercial transac-
tons. How completely these conditions have
been reversed during the eleven wears since the
war appears IN retrospect of the actual events
Of that period.
PRESENT SCALE OF GOVERNMENTAL FXPEN-
DITURE.
The extravaganza of our governmental con-
sumption Is illustrated by comparison of the
public expenditures of lS70-tile wears after
the close OF the WARMTH those OF 1860 and
1850
TAXES IN THE UNITED STATES.
Gold cold. Currency rsic
Federal s4o0oo.o0o s6o,olo,ll2 s450,ooo,ooo
city and town 4a,oOO,oOo et,1se745 2so.sel ,52l
Totals. ss3.Ooo,ooo sI54 ,l96,sa8 s7ao,5gl ,52l
Population. 23,lgl,976 3l,443,22l 3s,5os,37l
TAXES PEE HEAD.
Lo si'- ~. = rs 80 30 ~ q q
Totals ... s847 $40 slsgl
AGGREGAIE TAXATION OF ELEVEN YEARS
The aggregate federal taxation of the eleven
Years now closing, computed in currency. from
The Official statements, is more than 81 800, 000-
900. The local taxation ASSUMING The census
statement for 1870 as an average is more than
1900, 600, 900. The aggregate taxation pxcaels
$500, 100000.
The want OF disposition and habit to save ig-
h,,rdauS r ,,4ii II. ucannS WIN our
taxation cause the waste OF sum in eleven
years AS large as our national debt. 1t cannot
be doubted that the systematic and extreme
misgovernment imposed on the States of tho
South has greatly detractetl from our national
prosperity In those IMPOVERISHED commnni.
ties it has not stopped with the ordinary effects
of ignorant and dishonest administrator If
has inflicted upou them enormous iss1,ns Of
fraudulent bonds the scanty avaiIs of uhioh
were wasted or stolen, and the evistenca Of
which is a public discredit tending to hnr11-
ruptcy or repudiation. It's taves aensraliT ON
pressive, in some instances have c0nfiscated The
entire income of pronertv an,I totally IoStro cN
ed its marketable yaluo
In region five times rs larpe ne +ba british
Isles and three times as large ms France. ahound
ing IN all the elements of natural wealth, il has
destroyed confidence and credit in ali transac-
tons, dittused uncer+ajntv and diStr,,st n,.nr,T
where and consumed ax.;,ti., 49,, ~ ~
retarding production and naraIyzino t,e antar-
prise by which such waste MIGHT he ren,irad
and future growth assured
This system after its character beca,ne lrovx,
those atpptaI IL
horred by all the intellect and yirtue of The com.
munties in which If evsts and h, tb .,ir ,,,i
lie opinion. has been maintainoa ,bro,, ~ ,
years by The favor and patronage of the federal
soNernlnent-Dy The moral coercion of its pres
- ~ VI: :. staining ihehace ana occasional
0''e u KS iniiililS power.
INJURY TO OUR OWN PROSPERITY.
If is in,nossilAo ~ 81 a,,o,, -.-.,S.-1,,li
~ - III ~, w Il. such wrongs should not
ara tba nrodmco, ~ fd,,, t, saHerers ps II
"a commodities avnlnGin, s 49, ~ tno eA
40 O00 600 Of neonio au 81 ~ ". oul nole
raw materials If onr avn da, nioft .li'
tnros nj, r - uoiiies'ic 'iallu!ac
which more tban o'1, otharl ~
nroance ana Inv VIA 49, asli MAJ I,iey
are orr most 1.luotIo ~ N ~ AAes
dnctS Of nn,. o loI Ine pro-
chandjse and they male nS fantorS il o IN
transactions Tha Stafo or ~. Al al. tliell
contains thn co,nnara;a, , tsm " NJ Witch
the largest iniurv hnt - nnnsaa,o + u
throughout he Who'll corntr eN''' eAtcnu
Other influences have been of ,,orl. r. ,,o+o
riorate the financial ronditon Of AIM W u',Ie
The neriod has hnnn t,II Of vi ~ ptopie'
sonndness in tha ,nanaoo,n,t e ~ ui
ness ami in tho bi;ts 80 f;, VI i'ilS tte ousI
nails. '''''''' u '"''iiiiee ana iauiNIu-
A series of snac,,l.ti,-, e,-,;.o.,,a,,4 Ill.,. :.
o;+od - ,,. o =; tAcltelhehC& mas IN
be unremunnrativn and 70 w. ,ntu otL ~
fail TO Weld revenue md 49, 10
yeluo Tho caTitai a,hn', iG -; tneiL s,l'lpie
tolinao i Jos+fp, heu III s,ie!i uluei-
Incomes diminished and their convertible nrnn
efty reduced.
ACTION OF FEDERAL. GOVERNMENT THE TT TT.
MATE CAI-sF
gIo fa,ovo, o,,.,,... -,
exclusive rrenons;hiiit for 'i as [ne utec. anu
lI r lor ltS own immense
resnert ~ tho l,ro.,t ~, d"iiii'ous polley IN
Sonth 7i''' 'i0u"'i"s 7'a'es Vi the
If has 1;,.o,,.isa ,.o,t.o,,.., -.
tho b"nlin~, ~ tho uIeu l!e currency anu
nroir'a Hiis W. tlle country II mas Deen the
rondnctna I.as+ ;'i an9 precious ielals' II mas
ini 81 ISL ia u aisaciohs' us imam
1av tha .r,rr r'as ett "a nls nahu rom gay 10
kef in The centre nf atai o, u lle Ioau mar
tarms nj o,,r tora,rr a,ioi' anu me
evnnrts d ; NJ eAeilaises-lhe prices OF
,otin u ~ YtalltV OF me circu-
as rsnnc,,'anI ' Iine Standard OF val
80 by IA" Us the rule IN all deal
BY the force of its examnle. NV its ascand-
ancy over opinion acquired in Il period of pub
nc danger, during which the people formed the
habit of following its leadership; by its means