Mississippi Democrat. (Hazlehurst, Miss.) 1875-1???, 1876-08-12

ALn,Nr. v. V, July 81. 1873.

AlhANfs ~ U = ShiN o. iGfNs
Genilcmen-Whvn had the hon
ar to receive personal delivery u
Your letter on behalf OF the Demo.
cratic National ConveptiOn, held on
thc 2Sth of June, at ~. Louis, al
yIsing me Of my nomination A. the
candidate oi the constituency repre-
schicd hy that body, for The Office of
President Of the United States, |
answered that ~ my earliest coh.
Ncnicnce, aud IN conformity with
usage, would prepare and transmit
you a formal acceptance.
| nov avail myself Of the first In
tcrval "a an unavoidable occupation
60 iulhll that engagement. The uOn-
Vcnipon, before making It's nomina-
tions, aduptcda declaration OF prin.
ciplcs which, ~ whole, seems 10
the a wise exposition Of the ucccs-
sitics at our country aud of the re-
iorms needed tO bring back the gov
ernmcnt to it, true functions. to re-
store parity Of administration, and
Go renew thc pi ospcrity oi the peo-
tf' tAA NtfNAAA VI AAtA - AfANA stAH NV
- urgent that they claim mote than
passing approval.
REFoaN ~ TITuc gXPENsE.
The necessary Of rciorm in the
salo of public expense, Federal.
State aud municipal, and In the
mu,,s oi Federal taxation, iustiiics
all The prominence given g. u ia tho
declaration of the ~. Louis Conyen-
ii"n. The present depression in all
the business aud industries of the
people, which ls dopriviug labor OF
IT. employment aud carrying want
Inlo 80 many homes, has it, prime cipal
cause Ia eNocssive governmental
consumption, under the allus'ops OF
Aspccious prosperity, engeudercd by
the ialsc policies Of the Federal gov
erun.ont.
A waste OF capital has been going
ON ever since the peace Of 1855,
which could only end in universal
disaster. Tho Federal taxes OF the
last eleven years reach the gigantic
sum Of forty-hve hundred million
dollars. Local taxation has amount
"a Ia two-thirds a. mueh more the
vast aggregate IL not less than
seventy i've hundred millions. This
enormous taxation followed a civil
cOnhict that had greatly impaired our
aggregate wealth and had made a
prompt rcduftlon of expenses indis
pcnsablc.
u vas aggravated BY most un-
scientific aud illadvised methods of
taxation that increased the sacrifices
OF the people faT beyond the receipts
Of the Treasury IL was aggravated,
moreover, by financial policy
which tended 10 diminish the energy,
skill, economy Of production aud
the ifugality Of private consumption,
and induced miscalculanon in busi-
moss and an unrcmunerative use Of
capital and labor. Even In prosper.
Gus tunes the daily wants Of indus
trious communities press closely
upon their daily earaings. The
margin of possible national savings
j. nj best a small per ecntage Of
national earnings, yet now for eleven
wears government consumption has
been a larger portion OF the national
earnings than the whole people can
possibly save, even ~ prosperous
times, lor ell new Investments.
The consequences Of these errors
are nov accurate public calamity,
but they were Aeccssary and inoyita-
bile, were forcseen and depicted when
the waves Of that fictitious prosperity
ran highest, In speech made BY lne
on the 2ilh Of September, 1875. II
was said Of these taxes They bear
heavily uyon every mans income.
upon every industry and every basi.
dess In the country, and year BY
year they are destined TO prey still
more heavily unless We arrest the
system that gives rise 10 them. II
was comparatively easy, when val
ues were doubling under repeated -
sue OF legal tender paper money, q
pay out of the froth of our growing
and apparent wealth these taxes, but
when values rccede aud sink toward
their natural scale, the tax-gathcTeI
takes from us not only oar profits
bat also . portion Of our capital.
do not wish 10 exAggerate OF
alarm, I simply say that We can not
afford the oostly aud ruinous policy
OF the Radical majority Of Congress
We can not afford that policy TO
ward The South; we cannot AFFORD
the magnificent and oppressive ten
tralism INTO which our Government
- being converted We cannot afford
the present magnificent scale OF tax
alton. To the seoretf ~ OF the
Treasury. | said early IN 1868, thcrs
~ no royal road ios a government
more than for an individual or cor
Porationi what you want 10 do now
n 10 cut down your expenses and
live within your income.
fwould give ell the legerdcmaIn ol
finance aud laundering, would
give the whole of II Cor the old,
homely maxim, "IiYe within your