The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-05

PRINT THIS morning, are discreet ana nDle
documents Governor Tilden explains that
unavoidable engagements prevented his ac-
knowledging at an earlier day the honor
conferred upon him. He then proceeds to
argue that the present depression in bust
ness arises from governmental consump-
ton" that there has been waste Of capital
since 1865, (which can only end in universal
disaster" In eleven years federal and
local taxation has amounted to seven
thousand five hundred millions of dol
lars, the evil effects of which have
been aggravated by most unscientifc
and i'll adjusted methods of taxation"
He thinks check should be put
upon the tendency of Congress to extrava-
gance by an amendment to the constitution
separating into distinct bills the appropria-
tons for the various departments of the pub
lie service and excluding all topics Of indie
pendent legislation. Such m amendment
would remove the duress which often COM
pels President to "assent to Objectionable
appropriations rather than stop the wheels
of the government"
After presenting the necessity for reform
in public expense the Governor takes up the
question of the South. He shows that much
of our business distress is to be
found in the systematic and insup-
portable misgovernment" imposed upon
the States of the South. He shows the
effects of ignorant and dishonest administra
ton in the issues of fraudulent bonds, and
taxes which amount to confiscation. He
believes in a reform that will be reconcilia-
ton. He makes no allusion to the recent
massacres, except to say with quiet sgnif-
canoe that if elected he will use his powers
to protect all citizens, whatever their former
condition, in every political and personal
right" The country will regret that Gov
ernor Tilden has no word of condemnation
for the massacres Of Hamburg, regret
which will be increased when it reads in the
letter of Governor Hendricks an intimation
that the strife between the races will only
cease as soon AS the power for evil" is taken
out Of the hands of republicans as soon, in
other words, as the democrats have political
control. The assurance Of protection, how
ever, will be accepted with pleasure.
On the currency question Governor Til
den and Governor Hendricks are in accord.
If anything the expressions of Governor
Hendricks on this subject are stronger than
those of his colleague, because they are more
ineligible. He desires the repeal of the
Resumption act as the retracing of false
step. Governor Tilden virtually takes the
same ground, although at some length and
with consummate ability he points out the
blunders in our whole financial legislation
since the close of the war. This part of
Governor Tildens letter will bear careful
study, and should be read over and over
again by those who care to comprehend
his scheme for reform in our
currency. First, the Governor would
repeal the Resumption net because
it means nothing. Then he would save
enough money to redeem the legal tenders,
and when we had that central reservoir of
coin" he would resume. He indicates no
time when this resumption will take place,
although he thinks the sooner the better.
He has no faith in statutes fixing certain
days for resumption, because they are not
respected. This whole business, he pro-
practical administrative craftsmanship. The
captain Of steamer about starting from
New York to Liverpool does not assemble
council over his ocean chart and fix
IN angle by which to lash the rudder for the
whole voyage. human intelligence must
be at the helm to discern the shifting forces
of the waters and the winds" This figure
of rhetoric expresses the position of the two
statesmen, and it may be thus expressed
Repeal resumption, save your money and
allow the President to resume when he is
ready" The question whether on this point
there has been n surrender to Tilden by
Hendricks or to Hendricks by Tilden will
be asked again and again. While con-
ceding the great ability with which Mr..
Tilden presents his case we still think the
credit Of the country would be stronger if
the Resumption act was to be respected, and
the new administration, with Mr.. Tilden
at the head, were to go to work and prepare
to resume on the day fixed by law. The fact
that such an act exists shows that as q gov
eminent we have made q solemn PROMISE
and we should not recall it until we see
whether we can redeem it or not. If the
Governor had said this his letter would have
been more satisfactory.
The clear and gratifying fact, however, is
that Mr.. Tilden, if elected, will, whether the
Resumption act is repealed or not, use oil
the powers of the administration to secure
resumption. He is for hard money and pay
ing the national debt. On the question of
civil service reform the two letters are
somewhat in accord. Mr.. Hendricks
would keep in Office ''some men
of tried integrity and proved abil-
ity." He would allow no man in Office who
had used money for election purposes Mr..