The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-08-05
All LAST.
TiIdeh and Hendricks Finally
Come to an Understanding.
Their Misty and May Letters
on Finance.
Gov. TiIden's Letter.

on Flnance.
Gov. Tilden's Letter.
ALBANY, July 81, 1875.
GENTLEMEN: When l had the honor
to receive the personal delivery Of youl
letter on behalf Of the Democratic Nation
al Convention, held on the 2Sth OF JUNE
at St. Louis, advising me Of my nomiua
tion as candidate OF the constituency rep
resented by that body for the Office o.
Preaident o., the United State, 4 answer
ed that at my earliest convenience ]
would, in conformity to usage, prepare
and transmit to you a formal acceptance
now avail myselto Of the first interval in
occupations 10 fulfill that
engagement,
The Convention, before making It's nom.
nations, adopted declaration Of princi'
Piles, which, as a whole, seems to me a
wise review Of the necessities Of our
country, and Of the reforms needed to
bring back the government to It's true
to restore purity Of administra.
tion, and 10 renew the prosperity Of the
people.
! Bit someSof those reforms are SO very
urgent that they claim more than pass.
Ing approval The necessity Of a reform
in the scale OF public expense, Federal,
State and Municipal, and in modes of
Federal taxation justiiies all the promi.
nence given it in the declaration Of the
St. Louis Convention.
THE PRESENT DEPRESSION
in all business and industries Of the peo.
Pile which are depriving labor Of its en-
ployment and carrying want into SO
many homes, has its principal cause in
oppressive governmental consumption
under the illusion Of aspecious prosperi-
ty, engendered by false policies OF the
Federal government. A waste Of capital
has been going on ever since the peace OF
1865, which could only end in universal
disasters
The federal taxes Of the last eleven
years reach the gigantic sum OF forty.
i've hundred million Of dollars. Local
taxation has amounted to two.thirds as
much more, and the vast aggregate 10 not
less than seventy.tiye hundred millions
Of dollars. This enormous taxation fol-
lowed civil conflict that had vitality
impaired our aggregate wealth, and had
made prompt reduction Of our expenses
indispensable. II was aggravated by
most uneqal and i'll adapted methods OF
taxation, that increased the sacrifices OF
the people far beyond the receipts Of the
Treasury. II was aggravated moreover
by financial policy which tended to
diminish the energy and economy Of the
prudential, and the frugality Of private
consumption, and induced mlscalculation
and unremumerative use OF
capital and labor.
EVEN IN PROSPEROUS TIMES
The daily wants OF industrious communities
press closely upon their daily earnings.
The margin OF the possible national say:
ings Is at the best a small percentage Of
national earnings, yet now for these
eleven years the government consump-
lion has been o larger portion Of nation.
IL earnings than the whole people can
isave, even in prosperous times
from all their investments. The conse-
luences OF these errors are now present
public calamity, but they were never
invisible. They were necessary and inc.
and were. .foreseen and depicted
when the waves oil that =
FICTITIOUS PROSPERITY
ran highest. In a speech made by me
on the 24th Of September, 1868, 1t was
said of.these taxes They bear heavily
upon every mans income, upon every'in-
/ lustry and every business IN the country,
and year by year they ara destined to
press still more heavily unless we arrest
Ihe system that gives rise 10 them,
It was comparatively easy when values
we're doubtful under the repealed Issues
II legal tender paper money to pay out
II our growing and apparent wealth these
axes, but when values receded and sank
,owatd their natural scale the tax.gath.
.rer takes from Us not only our income,
not only our profits,b but also portion Of
,apital. 1douot wish TO exaggerate or
alarm, I simply say that we cannot afford
.ho costly and ruinous policy Of the rad.
cal majority Of Congress. We cannot
Afford that policy toward the south, we
cannot afford that magnificent and op.
pressiye centralizism into which our Gov
is being converted. We cannot
lfford the present magnificent scale, OF
'axation.G 4 ~ b " w 3H.
To the secretaryof the Treasury ! said
'arly in 1865, -n
THERE Is NO ROYAL ROAD
or n government. any more than for an
or a corporation. What you
want to do now is to cut down your ex-
,enses and live within your income. /
would give all the legerdemain OF finance
ind tinanceering, | would give the whole
# it, for the old homely maxim, olive
within your income"
This reform will be resisted at every
tep, but It must DO pressed persistently.
We see to-day tho immediate representa-.
ives OF the people in one branch OF Con.
;ress, while struggling to reduce the OK.
compelled to confront the
nenaceB OF the Senate. and Executive
hat unless Objectionable appropriations
,e consented to the operations Of the
Government hereunder shall suffer det.
'iment or cease.
In my Judgment an amendment to the
constitution ought to be devised separat.
ng into distinct bills the appropriations
or the various departments OF public
ervioe and excluding from each bill all
appropriations for other objects and in
dependent legislation, In that way alone
.an the reyisory power II each Of the two
Houses and Of the Executive be preserved
md excepted from moral duress which
,nlY compels assent to Objectionable APP
rather than stop the wheels
II the Government, .
OH 4. .ANAccEssoRY CAUSE,
the distress in business, is to
70 found in the systematic and insupport.
Ible misgovernment imposed on the
,tatea of the Snuth. Reaiiea The nrdi.