Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1876-08-19
letter of Accep-
fance.
ALBANY. July 81. 1876.

Gentfen1en:-When [ had the
honor to receive a personal deliv-
cry of your letter on behalf of the
Democratic National Convention,
held on the 2Sth of June at st
Louis, advising me of my nomina-
ton as the candidate of the constit-
uency r~epresented by that body
for the Office of President oil the
United States, / answered that. at
my earliest convenience, and in
conformity with usage, | would
prepare and transmit to you a for
NAL acceptance. / now avail my
self of the first interval in unavoid-
able occupations to fulfil that en-
gagement.
The Convention, before making
its nominations, adopted a Decla-
ration Of Principles, which, as a
whole, seems to me a wise exposi-
ton of the necessities of our coun-
try, and of the reforms needed to
bring back the government to it's
true functions, to restore purity
administration and to renew the
prosperity ofthe people. But some
of these reforms are so urgent that
they claim more than q passing ap-
prevail.
REFORM IN PUBLIC EXPENSE.
The necessity of a reform sin
the scale of public expense-Fed-
eral, State anil municipal"-and
sin the modes of Federal taxa
tion," justifies all the prominence
given to it in the declaration of the
st. Louis Convention.
The present depression in all the
business and industries of the peo-
pie, which is depriving labor of its
employment, and carrying want
into SO many homes, has its prin-
cipal cause in excessive govern
mental consumption. Under the
illusions of a specious prosperity
engendered by the 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 disaster.
The Federal taxes of the last
eleven years reach the gigantic
sum of 1850 millions. Local taxa
ton has amounted to tWo-thirds as
much more. The vast aggregate
is not less than 1900 millions.
This enormous taxation followed
a civil conflict that had greatly i'm
paired our aggregate wealth and
had made a prompt reduction of
expenses indispensable.
1t was aggravated by most un-
scientific and ill-adjusted methods
of taxation that increased the sac
rifices of the people far beyond the
receipts of the Treasury.
1t was aggravated moreover, by
a financial policy which tended to
diminish the energy, skill and
economy Of production, and the
frugality of private consumption,
and introduced miscalculation in
business and unremunerative use
of capital and labor.
Even in prosperous times, the
daily wants of industrious commu-
mites press closely upon their dali
ly earnings. The margin of posi-
BILE national savings is at best a
small percentage of natioal earn
ings. Yet now FOR these eleven
years governmental consumption
has been a larger portion of the
national earnings than the whole
people can possibly save even in
prosperous times for all new in
vestments.
The consequences OF these errors
are now a present public calamity.
But they were never doubtful,
never invisible. They were neces-
sary and inevitable, and were fore
seen and depicted when the waves
of that fictitious prosperity ran
highest. In a speech made by me
on the Oath of September 1868, it
was said of these taxes:
"They bear heavily upon every
mans income, upon every indus
try and every business in the coun-
try, and year by year they are
destined to press still more heavi-
ly, unless we arrest the system that
gives rise to them. 1t was COM
paratively easy when values were
doubling under repeated isues of
legal-tender paper money, to pay
out of the froth of our growing and
apparent wealth these taxes, but
when valnes recede and sink to-
wards Their natural scale, the tax
gatherer takes from us not only
our income, not only our profits,
but also a portion of our capital.
\ L do not wish to exag-
gerate or alarm; [ simply say that
we cannot afford the costly and
ruinous policy of the Radical ma
jority of Congress. We cannot af-
ford that policy towards the south.
We cannot afford the magnificent
and oppressive centralism into
which our government is being
Il ~