The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-08-07
Gov. Tilden's Letter.
His First and Last Address TO the AmerI.
can People.
ALBANY, July 81, 1877

ALBANY, July 81, 1876.
Gentlemen:-When had the honor to re-
ceive personal delivery of your letter on be.
half of the National Democratic Convention,
held on tbe 2Sth of June, at st. Louis, advising
me of my nomination as the candidate of the
constituency represented by that body for the
office of President of the United States, ans
wered that at my earliest convenience, and in
conformity with usage, would prepare and
transmit to you formal acceptance. now
avail myself of the first interval of the unavoid-
able occupations to fulfil that engagement.
The convention before making its nominal
tions, adopted q declaration Of principles which,
as whole. seems to me wise exposition of
the necessities of our country and of the reform
needed to bring back the government to its
true functions, to restore purity Of administra-
ton, and to renew the prosperity Of the people;
but some Of these reforms are so urgent that
they claim more than passing approval.
REFORM IN THE PUBLIC EXPENSE.
The necessity of a reform in the scale
of public expense, federal, state and
municipal, and in the modes of federal
taxation, iustifies all the prominence given
to it in the declaration of the st. Louis Conven-
tion. The present depression in all the bust
ness and industries of be people which is de-
priving labor of its empl0yments and carrying
want into so many homes, has its principal
cause in excessive governmental consumption.
Under the illusions of o specious prosperity en-
gendered by the false policies of the federal
on ever since the peace of 1865, which could
only end in universal disaster. The federal
taxes of the last eleven years reach the gigan-
tic sum of 81, 100000. Local taxation has
amounted to two-thirds as much more The
vast aggregate is not less than $3.50, 900, 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 the most
unscientific and ill-adiusted methods of taxa
ton that increased the sacrifices of the people
far beyond the receipts of the treasury. 1t was
aggravated, moreover, by financial policy
which tended to diminish the skin, energy and
economy OF production and the frugality of
private consumption, and induced mscalcu-
tion in business and an unremuneratiye use OF
capital and labor.
Even in prosperous times, the daily wants Of
prosperous communities press closely upon their
daily earnings. The margin of possible savings
is at best small per centage OF national earn
ings. Yet, even now for these eleven years gov
ernmental consumption has been larger por-
ton of the national earnings than the whole
people can possibly save even in prosperous
times for all new investments. The conse-
quences of these occurrences are now q present
public Hcalamity. But they never were doubt
full never invisible. They were necessary and
inevitable, and We're foreseen and depicted
when the waves of that fictitious prosperity
ran highest.
In speech made by me on the oath of Sep
TEMPER, 1862, 1T was said OF these taxes, Iney
bear heavily upon every mans income, upon
every industry and every business In the coun-
try, and year by year they are destined to press
still more heavily unless we arrest the system
that gives rise to it." 1t was comparatively
easy when values were doubling under repeat
ed issues of legal tender paper money to pay
out of the froth OF our growing and apparent