Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1876-08-05
THE LETTERS.
In Which Tilden and Hendricks
z Accept the Democratic Nom
mat on for President
and Vice President.
JlLDEN $ LETTER.
ALuANY, n Y. July 81.

MILAN ~ 3-Juil oi.
Gentlemen - w hen had the honor
to receive the personal delivery Of
your letter on behalf of the democra-
tic national convention held on the
2Slh of June AT St Louis, advising
me OF my nomination as the candi-
date Of the constituency represented
by that body for the office Of presid
ent Of the u. S, ! answered that at
my earliest convenience and1-in con-
formity with usage would prepare
and transmit to you a formal accept
ance. now avail myself OF the FIRST
interval in unavoidable occupations
to fulfill that engagement.
The convention before making its
nominations adopted declaration Of
principles which ss whole seems to
me to be wise exposition of the ne
cesslties Of our country, and of re-
forms needed to bring bank the gov.
eminent to its true functions, to re
store purity of administration and re-
new the prosperity of the people.
But some OF these reforms are 30 ur-
gent that they claim more than y
passing approval. The necessity
OF referm in the scale of public ex
pense, federal, state and municipal
aud modes of federal taxation, justi
fcs all prominence given to il by the
declaration of the ST. Louis conven-
,on. The present depression in all
business and Industries Of the people,
which 10 depriving labor Of its en-
ployment, aud carry ing want into SO
many houses, has its principal cause
in the excessive governmental con
sumption under the illusions Of spe.
cious prosperity, engendered by the
false policy Of the federal govern
mem, waste OF capital has been going
on ever since peace in 1860, which
could only end in universal disaster
federal taxes Of the last eleven years
have reached the gigantic sum ol
four thousand FIVE hundred million
dollars and local taxation has
amounted TO two thirds as much more
The vast aggregate is not less than
seventy 1--WE hundred millions. This
enormous taxation followed civil
conflict that had greatly impaired our
aggregate wealth, and had made .
prompt reduction of the expense in
dispehsable. 1t was aggravated by
the most unscien,ific and lily adjusted
methods of taxation that Increased the
sacrifices OF the people far beyond the
receipts of the treasury. 1t was ag
grava,ed, moreover, by the knancia
policy which tended to diminish th.
energy, stifled the economy Of pro
duction and the frugali,y of private
: consumption, and indeed niscalcul
alton in business and unremunerativ,
use OF capital and labor. Even j,
prosperous times, tie daily wants o
industrious communities press closel,
upon their daily earnings. The mar
gin of possible national savings is a
the best small percentage OF nation
nj earnings. Ye, you know that 70
these eleven years the governments
consumption has been larger in por
tions Of the national earnings than tn
whole people can possibly save, ever
in prosperous times for all new invest
ments. they bear heavily upon ever.
mans income, upon every indus,r.
and upon every business in the coul
try; and year BY year they are dcs
tined to press still more heavily, III
less they arrest the system that give
Use to them. Ii was comparativcl
easy when values were doubling ur
der repeated issues Of legal tende
paper money, to pey out oil the. frot
II our growing and apparent wealth
these taxes, but when values reced
and sink towards their natural seal
the tax gatherer takes from the u.
not only our Income not only our Pre-
fits, but also portion Of our capita
! do not wish to exaggerate or atarr
L simply say that VIC cannot afordtt
costly and ruinous policy Of the.rad
e. cal party in congress; we cannot a
ford that policy towards the 70 III
we cannot afford the magnificent al
oppressive ceetralism into which OF
government is being couverte'
we canlrnt afford the present ma
ni6cent scale Of taxation,4 To II