cz: rss ir eel bl a. bp d&ie: nswm - ."GCjcs-TtjesTr a.s2s-5GS HE . JPflj REEMUL EBENS13URC, PA., Friihy Morning, - August 11, 1876. Democratic Xationat Ticket. FOR PRESIDENT SAMUEL J. TILDEN', of New Yoik FOR VICE PRESIDENT : TIIOS. A. HENDRICKS, of Indiana. Democratic County Ticket. STATE KEXATOi: : A. SIIOKMAKKi:. Kmi , Kbensbiirir. (Subject to Ointrict e.'oiifei'euii'.) ASSF.MI1LY: .JOHN noWNF.Y, Johnstown. JAMES J. THOMAS, Carroll Twj. SHERIFF : JOHN RYAN. Cambria H.ironjli. ASSOC IATE JL IXJI.R : JOHN FLANAOAN, Rtonv Creek Tup. JOHN I. THOMAS, EbcnibtiiK. ISAAC N. WISS1NGKK, HU.klkk Twr. ! l-ri.T tlfTJF TiT I i.-"r 11. .U'RV COMMISSIONER : JOSKMI CltAMKU, Allegheny Twp. There are few if any of our readers who fool interested in the matter, but as an item of news we note the fact that Hint hlutnnt humbug, (Jen. Sam. Carey, of Ohio, has been nominated for Vice President on the Peter Cooper greenback ticket, and he lias accept ed the empty honor with an avidity which would knock the wind out of any man with less assurance than he is the possessor of. County elections were held ir. Ken tucky on Monday, and very generally resulted, as heretofore, in the success of the Democratic aspirants. Henry Watterson, of the Louisville Cvurivr Jijurnnl, was elected to Congress b an overwhelming majority, the 15cil licans having no candidate in the field against him and the Independent Democratic candidate., Heady, lcceiv ing onlv a few scattering votes. The Democratic convention of Schuylkill county on Monday last re nominated Hon. Jas. li. itcilly for Con gress. That he will be elected there is Hot a shadow of doubt, and that an other lteilly our own faithful young Congressman will be sent back to keep him companj-, seems to be the conclusion very generally reached by the Democracy of this district, the wishes and hopes perhaps eif the gen tleman interested to the contrary not withstanding. The Democracy of Allegheny coun ty on Tuesday last renominated Hon. James Hopkins and Hon. Alex. G. Cochran, present members of Congress from the Twenty-second and Twenty fhird districts, without opposition. This seems to Ik a jam-up year far re nominating good and faithful public servants, and if our popular and atten tive Congressman don't be caught in the simoon which is bringing honest men like him to the front ami sweei ing corruption and aflYontcry out of place and power, we arc very much mistaken in the sisns of the times. The bill providing for the repeal of the third section of the Sherman Re sumption act, passed January 14th, IRTo which section provided for the resumption of svcie paym uits on the first of January 18 79-passed the House of Itepre scntati ves.on Saturd: ylist, by a vote of 103 against iC our own Representative, Hon. John Reilly, In common with nearly all the Democrats present, voting in favor of the reeal. The terms of the Sherman act can never lie complied with until. i reform admin istration, by retrenchment and wise legislation, works out a sound financial ml icy and paves the way for the re bamptton of specie payments. The historic remark of the lamented Lincoln alout the folly of trailing horses while crossing a stream docs not seem to have had much effect eu the Republicans ef the State e.f Indi ana, if we are to judge by the way they Cot rid of their candidate for Governor, lion. (Jodloc S. Orth, who within the past week lias been induced to write a letter of declination in whic h he says that he is assured by many prominent Republicans that he cannot command the vote ol his own party, and hence to csene defeat lie arccpts humiliation if not something worse by withdrawing from the canvass in the most Orth-otlox manner. The position thus rende red vacant haslx-en unanimousl v tendered t. Hon. Hon! Harrison, of I ndiaaapo- lis, bv the Republican State Central I rommillec, ami ui:h gcnucnt.m nas . promptly agreed to take his chances fr election, which are far from Wing bt illiant. Tim: first great Democratic victory of Mie centennial year was achieve d at the Slat: c!.':tioti in Alibama em Mond iv l.tt, Hoti-loti, the Democratic candidate fur Governor having Won chosen bv a majority which will fall little if any I hind ."0,01)0 votes. The "true inwardnesV eif I his glorious achievement will W more fully nnder fctoor"whe ii we inform our readers that Alabama in 1M.S gave Grant 4,20 majority, and in 172 it saw that md went very much Utter tor rather worse) by rolling up ln,2S majority for the same unworthy occupant of the White House. In "l S7 1 the "tidal wave" struck Alabama, however, and she veered to the right side by electing Houston, the present incnmWnt and laic candidate, by a majority of 13,100, which she now more than ilouoies in vor of that gentleman. This is w li.it tn M.irrisotirg l oirmi cans a nooie . end off for Tilden, Hendricks and re- j form, and will lie so hailed throughout tin country. The Democrats have, made gains in every part of the State j that has been heard from, and will have , a large majority in the Legislature. The Letters of Acceptance. The letters of Gov. TiMcii and Gov. Hendricks, ncccptincc the nominations for President and Vice-President, the former of which we print. in full to the exclusion of very much of our usual variety are now before the public, and by a'l may be formed a just estimate of the positions which the writers take upon the grave and important questions i that are before the nation for solution. ' The peculiar characteristics of each j author are disic-rnablc in the forms of j their productions, but, as to ihe tetn j per and spirit of the compositions, th?y i ! arc a unit. Thev are clear and out spoken, leaving no room for doubt ns to what is Intended to be by them ' conveyed. They not only express the ( meaning of- their composers ; they , convey their sentiments so clearly and : explicitly, that none but the intended meaning can be received by the man who studies. Whoever puts a false construc tion upon them, does so at the peril of losing his character for honesty "Vl venicity, for unwittingly can no mistake Ie made. The ground upon which the Democratic candidates 6tand is unmistakeably revealed, and it is found to be so firm nnd hard that every honest man may safely occupy it with them. Only those of too weak a nerve to endure the giddy heights of truth and purity need fear to come along. These may arrange themselves with Haves and Wheeler upon a plain so much lower that there can lie no fear of further downfall, and composed of a soil so soft that, while with every step they take, they sink deeper in the mire, yet will no hurt be done to the tender feet which bear thtni. The iniquities of the present admin istration are treated w ith an unsparing pen, and the c (Forts of the present House of Representatives to expose the abuses and diminish the burdens of taxation are pointed out. Governor Tildvn would deal with the public frauds in a practical way by amending the Constitution so as to render them impossible. Ilis words upon the Southern question are those of patri otism and sairaeity. Our Southern friends, both whie and black, need be in no fear about their future under the rule of Tilden. They may rest assured that, with him nt the head of the Ad ministialion, their every right would be protected ; that equal justice would be meted out to all without any regard to former state or condition. The abolition of the outrages by which lKth races in the southern section ef our country are insulted, degraded, and made to suffer, would be one of tho firot works of his instalment to power. The financial question is also dis cussed in a manner which shows that a master mind has done the work. Practical suggestions for restoring the country to a sound basis in this re spect, are numerous and lucid. No double dealing, no dishonorable trick cry, will be permitted in handling tins matter so important to the nation's prosperity. Honesty in the liquida tion of our obligations, ef whatever nature, is insisted on. The transactions of the nation are to Ikj conducted w ith the Panic principles of integrity that would actuate a man in his private dealings with his fellows. With suggestions as to the nature of the much-required civil service reform Gov. Tilden draws his memorable document te an end. Ilis views upon this, as upon all the other subjects, are unequivocal, and the two letters will render still be tter the excellent pros lects of success in the contest which is waging. Somf. of the Republican papers charge, as a crime against (Jove: nor Tilden, that when he takes office as the Chief Magistrate of the U;iitcd States he will commence his work of reform Ijy removing nearly every office-holder in thecountry. There can be no doubt that such will le the case, so far as regards the dishonest and incapable; but where a fitness for the duties of the office is displayed, there is no reason to apprehend wholesale removals on account of politics. The country is determined to rid itself ef every vest ige of Grantism, and the only manner in which this can Ik accomplished, is to remove from office every man who has Wen instrumental in building up the delectable thing. Grant i doonud : ' but with Gov. Hayes as President, and the present horde of Grantites carrying em their despicable work of plunder ami pecu lation in the various departments of tho service. Grantism would live and flourish. Indeed, the pupils ef the great master would, with a pliant tool like Haves m the Presidential chair, have fuller scope th in they now have, for practically applying the lessons they have learned. They would carry the system even beyond where the teacher would dare to go. Governor Tilden therefore resolves that they shall W placed where thev' can do no more harm. He w ill surround himself with men who will reflect credit upon ! the country which they serve, and will j zealously guard and hono.-ablj- dis charge me mists coninicu to t hem. The public officers who will not be. disturbed in the enjoyment of their places, are those who have proved their qualifications for the work required of them, and are w illing to accept the will of the people, m the ordering of those wlio emplov them. ii Xot having received the letters of acceptane-o of the Democratic candi dates for Pre sident and Vice President j in time to print on our first page, we j have found it imjossibh without in J finding too much upon our space to f publish Gov. Ilendriek's letter, and hence have Wen forced to hold it over inlil next week. Coxfir.L'ss will probably adjourn this week. Cor. 'lilrfen's Letter of Acceptance. Th Matcrly Fflort of Master Mind. Alb nt, .Inly 31, ISlG.Oentlemfii; Whn I hail the honor to receive a personal doliveiy in" your letter on behalf of the Dem ocratic national convention, held on the 28th f June at St. Louis, advising me of my nomination, ns the candidate of the con stituency represented by that body, for the othce or 1'ieRirteiit oi tne united states, wl.ich it ts to be attained are disclosed bv announced that at my earliest convenience wi,atthe conrention demandod in the fif and in conformity with usage I would pre- tUre and by what it denounced in the past. pare and transmit to you a formal accep- lance. I now avail msdfof the first inter- TE val in unavoidable occupations to fulfil that ' Hesuniption of specie payments by the eue.(Iflllcnt j Rovernment of the Lnited States e.n its The convention before making its nomi- t'ur W establish , specie nations adopted a declcration of principles rvnients by ail ho banks on all their which, a whole, M-t.ns to n.i to be a j . J.e ofi.c-.al s emement made on he wise exposition of the neces,ti. of our J2"'0 ?lay 'Zl&Z?'? country and of the reforms needed to b.ing "'V. M I l? .S300'?00'000; ,e!? 20,W, back the government to it true function 2Sn n2?nSf r T '.'"i 2 7? to restore purity of the administration and jgj llT, I HI." toienewtheprospe.ityofthepeople; but J ,C"dT " some of thee reforms are so urgent that ! v"! H lv , f -"Vi they claim more than a passing approval, j J'"' ' '0 "l1" bc,!f,,rde51,8lt ,n 1 lp fV,!er?1 ' treasury, as security for these notes, bonds kefohh is PVBMO expense. r 1C United States worth in pold about The neecPMty of a reform in the scalo of $360,000,000, available and current in the public expense, federal, Mate and munici- j foreign money markets. In resuming, the pal, and in the Ihe modes of federal taxa- banks, even if it were possible for all their taion justifies all the prominence given to i notes to ho presented for payment, would it in the declaration of tho St. Louis con- ! have five hnndreit millions of specie funds vent ion. to pay $280, 0(H), 000 of notes without cou- Tho present depression in all tho bnsi- J trading their loans to their customers or ness and industries of the people which is j calling on any private debtor for payment, depriving labor of its employment nod car- ; SsuHpeiidfd bunks undertaking to resume rving want into so many homes has its have usually been obliged to collect from principal cause in excessivo governmental j needy borrowers the means to redeem ex consuinption, under Ihe illusions of a spe- cessive issues and to provide reserves A cious prosperity, engendered by the false i vague idea e f distress is therefore associated policies of the federal government. A j with t lie progress of resumption ; but tho waste of capital hasbecn going on cversince ! conditions which caused distress in these since the peace of 18f5, which only end in J former instances do not now exist. The universal disaster. Tho fidcral taxes of ; government lias onlv to make irood its own the last eleven years, reach the gigantic sum of forty-five hundred millions. Local taxation has amounted to two thirds as much moie. Tho vast aggregate is not less than seventy-five hundred millions. This enormous taxation followed a civil conflict t hat had greatly impaired our ag gregate wealth and had marie a prompt eduction of expenses indispensable. It was aggravated by most unscientific and ill adjusted methods of taxation that in creased the sacrifices of the people far bo yond the receipts of tho treasury. It was aggravated moreover by a financial policy which tended to diminish Ihe energy, skill and economy of production, and tiie frugality of private consumption, and in due'ed miscalculation in business and un remunerative use of capital and labor. Even in prosperous times the daily wants of industrious communities press closely upon their daily eirnings. The margin of possible national savings is at. best a small percentage of national earnings. Yet now for these eleven years governmental con sumption lias taken a laiger portion ef tho national earnings than the wtiolo people can possibly save, even in prosperous times, for all new investments. The consequences tf these errors are a present public calami ty ; but they were never doubtful, never invisible ; they were necessary and inevit able and were fforseen and depicted when the waves of the fictitious prosjerity ran highest. In a Kpeech made by me on .tho 24th of September, 180, it was said of these taxes, "They Lear heavily upon every man's income, upon every industry and every business, in tho country, and, year by year, they are destined to press still more- heavily unless we arrest the system that gives rise to them. It was compara tively easy when values wcro doubling un der repeated issues of legal tender paper money to pay out of tho froth of our grow ing and apparent wealth these taxes, but when values recede ami sink towards their natural scale the tax gatherers take from us not only our income, not only our prof its, but also a portion of our capital. I do not wish to exaggerate or alarm, I simply say that we cannot Afford t he costly ami ruinous policy of the radicut majoiity of Congress. We cannot atford that policy toward the South. We cannot atford the magnificent and oppressive centralism into which our government ia being converted. We cannot afford tho present maguiliccut scale of taxation." To tho secretary of the treasury I said early in 18o7 : "There is no reyal road for a government more than for an individual or a corporation. What you want to do is to cut down your expenses and live within your income. I would give all the leger demain of finance and financiering, I would give the whole of it for the old homely maxim, 'Livo within your income.'" This reform will bo resisted at every step, but it must bo pressed persistently. Wo bee to day tho immediate representatives of tho people in one branch of Congress, while struggling to reeiuco expenditures, com pelled to confront the menace of t he Senate and the executive, that unless the objec tionable appropriations be consented to the operations of tho government thereun der shall sulfei detriment er cease. In my judgment an amendment of the constitution ought to be devised separating into distinct bills the appropriations for the various departments of tho public service, and excluding from each bill all annronria- tions for oilier objects and all independent legislation. In that way alone can tho ro visory power of each o( tho two houses and of tho executivo be preserved and exempt ed from the moral duress, which oftnn com, pels assent to objectionable appropriations rather than stop the wheelesof tho govern ment. THE SOUTH. An accessory cause enhancing the dis tress in business is to be found in tho sys tematic and insupportable niisgovernment imposed on the states of tho South. He sides the ordinary effects of ignorant and dishonest administration, it has inflicted on them mormons issues of fraudulent bonds, the scanty avails of whichare wasted or stolen, and the existence of which is a pub lic discredit, tending to bankruptcy or ro pudiatiou. Taxes, generally oppiessivc, in some instances, have confiscated the entire income of property and totally destroyed its marketable value. It is impossible that these evils should not react iiMn the pros lrity o( the whole country. The noblest motives of humanity concur with the mate rial interests of all in requiring that every obstacle be removed to a complete and dur able reconciliation between kindred popu lations, mice unnaturally estranged, on the basis recognized by the St. Ionis platform, of the constitution of the United States witli its ameitmcnts universally accepted, is a final settlement ef tho controversies which engendered civil war. Ihit in aid ef a result so beneficent the moral influence of every good citizen as well as ever govern mental authority ought to bo exerted, not alonu to maintain their just equality before the law but to establish a cordial fraternity and good will among citizens, whatever their race or color, who are now united in the one destiny of self government. If tho fluty shall be assigned to me I should not f-.iil to exercise the powers with which tho laws and the constitution of our country clothe its chief magistrate to protect all its citizens, whatever ihcir former condition, in every political and crsonal right, ci'iinr.xi Y liKrur.M. Iteform is necessary, declares the St. I.ouis convention, to established a sound i currency, restore me Dunne credit, anrt J maintain the national honor ; and it goes on to demand a judicious system of prepara tion by public economies, by official re trenchments, ami by wise finance, which shall enable the nation fo-mi to a.svuo the whole woild of its perfect ability and its Iefect readiness to meet any of its promises at the call of the creditor entitled to pay ment. The object demanded by tho con vention is a leMunption of specie payments on the legal tender notes of the United States. That would uot ouly "restore the public credit" and maintain the national honor, but it would establish a sound cur rency for the methods by which this ob ject is to be pu i cued and the means bv promises and the binka can take care of themselves without distressing anjbody. Tho government is therefore the sole delin quent. T.EOAI. TFSDKR IlESCMrTION. The amount of tho legal tender noles of the United States now outstanding is- less than 379,000,000, besi.les $34,000,000 of fi actional eturency. How shall the gov ernment make these notes at all times as good as specie? It Las to provide in refer ence to the mass which would be kept in use by the wants of business a central re- hrvo of Coin. AdeuuntO to the aOinsfmcnt of the temporary fluctuations of interna- j tional balances, and as a guaranty against i transient drain artificially created by panic j or by speculations. It has also to niovide i lor i ne payment in com oi men nci lonai . - . . .. .i currency as may ho presented for redemp tion and such inconsiderable portions of the legal tenders as individuals may from time to time desire to convert for special use, or in order to lay by in coin their lit tie uteres of money. RESUMPTION NOT DIFFICULT. To make the coin in tho tie.isitry availa ble for the objects of this reserve, to grad ually strengthen and enlarge that reserve, and to provide for such other exceptional c!emands for coin as may arise, does not 8eem to mc a work of dillicnlty. If wisely planned and discreetly pursued it ought not to cost any sacrifice to tho business of the country. It should tend on the con trary to a revival of hope aud confidence. The coin in the treasury on the 30th of June, including what is held against coin certificates, amounted to nearly $74,000,000. The current of precious metali which lias flowed out of our country, for tho eleven years from July 1, 1805, to Jutie 30, lt!'3, averaging neaily $70,000,000 a year, was S32,( 00,000 in the whole period, of which ff (517, OtK 1,000 were the product f our own mines. To amass tho requisite quantity by inteicepting from tho current flowing out of the country and by acquiring from tiie stocks which exist abroad without distui b ing the equilibrium of foreign money mar kets, is a result to Ikj easily worked out by a practical knowledge and judgment. With lespecl to whatever surplus of legal tenders the wants of business may fail to keep in use, and which, in order to save interest, will be returned for redemption, they can either be paid or they can be funded. Whether I hey continue as cur rency or be absoibed into the vast mass of securities held as investment is merely a question of the rate of interest they draw, liven if they were to remain in their pres ent form and the government to agree to pay on them a rate of interest, making llicni pay as desirable investments, they would cease to circulate and take their place with government, state, municipal aud other corporate aud private bonds, of which thousands of millions exist among us. In the perfect easo with which they can be changed from currency into invest ment lies the only danger to be guarded against in the adoption of general meas ures intended to remove a clearly ascer tained surplus that is, the withdrawal of any which arc uot a pel ninnent excess be yond the wants of business. Eveu more mischievous would bo any measure which Uects the public imagination with the fear i of any apprehended scarcity. In a conimu I nity where credit is so much used tluctua j tionH of values ami vicissitudes in business are largely caused by the tiiiorary ten dency to the belief of men even before these beliefs can conform to a.scei tamed realities. AMOUNT OF KECES3AIIT CURRENCY". The amount of the necessary currency at a given time must bo tlelei ruined arbilra ii!y, arid should not bo assumed on conjec ture. That amount is Mibject to both per manent and temporary changes. An en largement of it, which seems to be durable, happened at the Wginning of the civil war by a substituted use of currency in placo of individual credits. It varies with cer tain states of business. It fluctuates with considerable regularity at different seasons of the year. In the autumn, for instance, when buyers of giain and other agricultur al products begin their operations they usually need to borrow capital or cii di lating credits by which to make their puichases, and want these funds in cur rency, capable of being distributed in small sums among numerous sellers. Tho additional need of currency At such times is five or more per cent, of the whole vol nine, and if a surplus beyond what is re quired for ordinary use dews not happen to have been on band at the money cen tres a scarcity of cuironcy enstios ami also a stringency in the lran market. It was in reference to such experience that in a discussion of this subject iu my annual message to the New York legislature of January 5, IS7., the suggestion was made "that the federal government i bound to redeem every portion of its issuo which the public do not wish to use. Having as sumed to monopolize the supply cf currency and erncted exclusion against everybody else, it is bound to furnish all which tho ; wants of business require. The system J should passively allow the volume of circu- i lating credits to ebb aud flow according to mc evcr-cnanging wants or business. It should imitate us nearly as itossible the mutual laws of trade which it has super seded by artificial contrivances." In a similar discussion, in my message of Janu ary 4, 1876, it was said that "resumption should be effected by such measures as would keep the aggregate amount ef cur rency self-adjusting during all the process. without creating at any time an arlincial j scarcity and without exeitinj tne puouc imagination with alarms w hich impair con fidence, contract the whole largo machinery of credit, and disturb the nV.u,t,,l o"eraf i'.fs of bilSiTtSS. MEANS OF RESUMPTION. Public economies, official retrenchment and wise finance are the means which the St. Louis convention indicates as provision for reserves and resumption. The best re source is a reduction in the expenses of the government below its income, for that im poses no new charge upon the people. Jf, however, the improvidence and waste which have conducted us to a period of -falling revenues oblige us to supplement tho re sults of economies and retrenchments by some resort to loans we should uot hesiiate. The government ought not to speculate on its owu dishonor in order to save interest on its broken promises which it still com pels private dealers to accept at a fictitious par. The highest national honor is not only right, but would prove profitable. Of the public debt IfOSTi.OOO.OOO bear in terest at six percent, in gold and $ 712,000, 000 at five per cent, in gold. The average interest ib 5.58 per cent. A financial policy which should secure the highest credit wisely availed of eught gradually to obtain a lednction of one per cent, interest on most of the loans. A saving of one per cent, on the average would bo seventeen millions a year in gold. That saving reg ularly invested at per cent, would in less than thirty-eight years extinguish the principal, The whole seventeen hundred millions of funded debt might bo paid by this saving alone, without cost to the joo ple. PROPEIl TIME FOR RESUMPTION. The proper timo for resumption i the time when wise preparations khall have ripened into a perfect ability to accomplish the object with a certainty and ease that will inspire confidence and encourage the revival of business. The earliest; time in wh;cli such a resumption can be brought about is the host. Kren when tho prepar ations shall have been matured, the exact date would have to be chosen with refer ence to tho then existing state of trade and crerlit operations in our o-.vn country, the course of foreign commoice and the condi tion of the exchanges with other nations. The specific measures and the actual date are matters of detail having reference to J )nr changing conditions. They belong to tho d.miaiu of practical administrative statesmanship. The captain of a teamer starting from New York to Liverjool does not. assemble a council over his own chart and fix an angle bv which to lash the rud der for the whole vovaire, A bnmau intel- li.rb.,r- .init l.A at lhr liulm to Hiseprn Itio shifting forces of the waters Mid the winds, A tinman hand must, be on the helm to fel the elements, day by day, and guide l,v a. mastery over tbeni. - PREPARATIONS FOR RESUMPTION, Such prepaiations arc everything ; with out them a legislative command, fixing a day. an oflicial promise fixing a day, aie shams. They are worse ; they are a snare and a delusion to all who trust them. They destroy all confidence among thoughtful men whose judgment will at least sway public opinion. Au attempt to act on such a commander or such a prom ise without a preparation, would end in a new suspension. It would be a fresh cal amity, prolific of confusion, distrust and distress. THE ACT OF JANUARY 14, 1S7.". The act of Congress of the 14th of Janu ary, 1875, enacted that on and after the 1st of January, 1679, the secretary cf tho treasuiy shall redeem in coin the legal tender notes of tho United States on pro scntation at the office of tho assistant treasurer in the city of New York. It authorized tho secretary to prepare and provide for such resumption of specie pay ment by the use of any mrplus revenues, not otherwise appropriated, and by issuing in his discretion ecitain classes of bonds. More than one and a half of the four years have passed, Congress and the President havo contrived ever since to unito in acts which have legislated out iu the shape of expenses every possible suiplus applicable to this purpose. The coin in the treasury, claimed to belong to the government, had on the 30th of June fallen to less than $45, 000,000 as against $59,000,000 on the 1st of January, 1875, and tho availability of a part of that sum Is said to be. questionable. The revenues are falling faster than ap propriations and expenditures are reduced, leaving the treasury with diminishing re sources. The secretary has done nothing under his jKwer to issue bonds. The leg islative command, the official promise, fix ing a day for resumption, have thus far been barren. No practical preparations toward resumption have been made. There has been no progress. Theio have been steps backward. There is no necro mancy in the operations of government ; the homely maxima of everyday life are the best standards of its conduct. A debtor who should pioiuiio to pay a loan out of surplus income, yet bo seen every day spending all he could lay his hands tn in riotous living, would lose all character for honesty and veracity. Ilis offer of a new promise, or his professions as to the value of the old promise, would alike pio voke derision. RESUMPTION PLAN OF THE ST. I.OUIS PLATFORM. Tho St. Louis platform denounces the failure for eleven years to make good the promise of the legal tender notes; it de nounces the omission to accumulate any reserve for their resumption ; it denounces the conduct wTiich during eleven years of peace has rnado no advances toward re sumption, no preparation for resumption, but instead had obstructed resumption by wasting our resources and exhausting all our surplus income, and while professing to intend to bring a speedy return tosecie paymentsias annually enacted fresh bin d ranees thereto, and having first denounced tho barrenness of the promiso of a day of resumption, it next denounces tho barren promise as a hindrance to resumption. It then demands its repeal ami also demands the establishment of a judicious system of preparation for resumption. It cannot be donbtcd that the substitution of a system of preparation without the promise of a day, for the worthless promise of a day without a system of preparation, would be the gain of the substance of resumption in exchauge for its shadow. Nor is the denunciation unmerited of that improvidence which, iu the eleven years since the peace, has con sumed f 4,500, 000, 000 and yet could uot af ford to give the people a sound and stable currency. Two and a half per cent, on tho expenditure of these- cloven years, or even less, would havo provided all tho additional coin needful to resumption, and relief to busiuess distress. Tho distress now felt by tho people in all their bnsiness aud in dustries, though it has its principal cause in tho euormous waste of capital occasion ed by tho false policies of our government, has been greatly aggravated by the mis management of tho currency. Uncertainty is the prolific pareut of mischiefs in all business. Never were its evils more felt than now. Men do nothing because they are unable to make any calculations on which they can safely rely. They under take uothing because they fear a loss in everything they would attempt. They stop and wait. The merchant does not buy for the future consumption of his customers ; the manufacturer dare not make fabrics which mar not refund bis outlay ; ho shuts his factory and discharges I his workmen. Capitalists cannot lend "on security they consider safe and their funds He almost without interest; men of j enterprise w ho have credit or securities to ! pledge will not borrow. Consumption has f.ill. ri below tIonaf.sr;il 2:!.v;- cf n rv . ' are under tho range in frugal, specie pay ingtimes, before the civil war. Vast mass es "tf curieiioy lie in the banks unusod. A year and a half ngo the legal tenders were at their largest volume, and the twelve millions since retired have been re placed by fresh issues of fifteen millions of bank notes. In the meantime the banks hive beeu surrendering about four millions a month tecause they, cannot find a profit able use for so many of their notes. The public mind will no longer accept shams ; it has suffered enough from illusions. An insecure policy increases distrust. An un stable oiicy increases unceitainty. The people need to know that the government is moving in the direction of ultimate safe ty and prosperity, ami that it is doing so through prudent, safe and conservative methods, which will be sure lo inflict no new sacrifice on the business of the coun try. Then the inspiration f new hope and well founded confidence w ill hasten the restorative proeesses cf Ihe natiou, and prosperity will begin to teturn. The St. Louis convention concludes its expression in regard to t lie cm rency by a declaration of its conviction as to the prac tical results of the system of preparations it demands. It says : We believe such a system well tie vised and above all intrusted to competent hands for execution, creating at no time an aitiftcial soaicity of currency aud at no time alarming the public mind into a withdrawal of that vaster machinery of credit by which ninety-five per cent, of all business transactions are pei formed, a system epen, public ami inspiring general confidence, would, fiem the day f its adoption, bring healing or its wings to all our harassed industries, set in motion the wheels of commerce, manufacturing and the mechanic atts, restore employment to labor and renew in all its natural sources the prosperity of the people. The govern ment of the United States in my opinion can advance toa resumption of specie pay ments on its legal tender notes by gradual are! safe processes tending to lelieve the present business distress. If charged by the people with the administration of the executive office, I should deem it a duty so to exercise the powers with which it has been or may be invested by Congress as best and soonest to conduct the country to that beneficial result. civil. SF.uvie i; reform. The convention justly aifirms that reform is necessary in the civil service, ntcessaiy to its purification, necessary to its econo my aud efficiency, necessary in order that the ordinary employment of the public business may not bo a piizo fought for at tiie ballot box, a brief reward of patty zeal instead of posts of honor, assigned for proved competency and held for fidelity in the public employ. The convention widely added that reform is necessary even more in tho higher grades of the public seivice. l'resiflent, vice president, judges, senators, repiesentatives, cabinet eliiecrs, these, and all others in amhoiity, are the people's scivants ; their offices are mt a private perquisite, they aie a public tiu.-t. 'Un evils infest the itncial sei vice of the fedei:tl government; one is the pmvfih nt and c!o uioralizing notion that the pnbiic seivice exists not for the business and benefit of the whole people but for the interest of the office holders, who are in tiuth but the servants of the people. Under the influ ence c.f this erniernis erir public employ ments have been multiplied, the numbers of those gathered into the rauks of tho olfico holders have been steitdiiy increased beyond any possible requirement of the public business, while inefficiency, jiecula tion, fraud and malversation of the publ-c funds, fiorn the high p aces of power to the lowest, havo overspread the whole ser vice like a leprosy; the other evil is the organizat ion of tho official class into a body of political mercenaries, governing the caucuses and dictating the nominations of their own party aud attempting to earry the elections of the people by undue influ ence and by immense couuptiou funds, systematically collected from th" salaries and fees of office holdeis. The official class iu other countries, sometimes by its own weight in alliance w ith the army, has been able to rale the unorganized masses even under universal suffrage. Here it has al ready grown into a gigantic power capable of stifling the inspirations ol sound public opinion and tf resisting every change of administration until misgovei umeut be came intolerable and public spirit has been stung to ihe pitch of a civic revolution. The first step in it form is the elevation of tho standard which the appointing power selects to execute official trusts. Next iu importance is the consideration of fidelity in tho exercise of the authority to hold to account aud displace untrustworthy or in capable subordinate's. The public Interest in an honest and skillful perfoimance of public trust must not be sacrificed to the usufruct of tho incumbents. After these immediate steps, which insure the exhibi tion of better examples, we m.iy wisely go on to the abolition of uuuecesary offices, and finally to the patient, cartful organi zation of a better civil service system un der the test, whenever practicable, of prov ed competency and fidelity. While much may bo accomplished by these methods it might encourage delusive expeclatiou if I w ithheld here the expression of my convic tion that no reform of the civil service in this country will be complete and perma nent until its chief magistrate is constitu tionally disqualified for re-election, ex-eri-ence having repeatedly exposed the futility of self imposed lestrictions by candidate's and incumbents. Through this solemuitv only cau he be tflVctualU delivered from his greatest temptation to n isnse the hi,. er and patronage with which the executive is necessarily charged. CONCLUSION. Educated in the belief that it is the first duty of a citizen of the republic to take his fair allotment of care and trouble iu pub lic affairs, I have for fifty years, as a private citizen, fulfilled that duty. Though occu pied in an unusual degree duriug all that peiiotl with the concerns of government, I have never acquired the bubit or official life. When, a year and a half airo, I en tered upon my present tiust, it was in or der to consummate reforms to which 1 had already devoted several of the best years of my life. Knowing as 1 do. therefore, from fresh experience, bow great the dif ference is betweeu gliding thiough an offi cial rcuitinc and working out a lefoitu of systems aud policies, it is impossible for me to contemplate what needs to bo done in the federal administration without au anxious sense of the difficulties of the uu dertaking. If summoned by the suffrages of my countrymeu to attempt this work, I shall endeavor, wiih Uod" help, to be the efficient instrument of their will. Samuel J. Tilden. To Gen. John A. McL'Jeruand, chairman, aud others. A singular phenomenon, frequently met with iu the Indian Ocean, the leal cause of which has not yet beeu ascertain ed, is, Kays the New Yoik un, the exist ence, off Malabar, and in ceitaiu spots lonr tho Coromandel coa-st, of vast mud banVs aud of tracts of mud susended iu the sea. whei-ein many kinds of liish find abuudanco of fotnl, immunity from much disturbance in the Kurioundint; element. and a locality in whicli to breed. The ex act catiKe of the existence of these large , tracts of M' in which the mud thus le- ; niaitn in solution is a mj'stery ; but at any ' late the ocean is ko i-intKith that, duriug even the height of tiie southwest monsoon, vet rsn rmi fr s!:e!er ititit ttse:' mii -t, .".".I. or..'.- tl . it. :i-c -.t i.i' n " 1 ' : ' J- .Vow ,t rtt.fr - i ---: hel,.r TWM.te ty.sj, 7 iM-n. ItVO v,,rt.r.:Tv '.flinlf. it . " r,,5. K. In yearly. "1 1 , stroke c' lljfVt!p . rJe.r.ltated a b,-n Ks , !; wonM hnveOi n 1 " i - fremnenit in WHii .. ' ev.-rv when-.1. ... w. 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'lhe lire many " . a. i - in torut au 1 a l-' ' . trat- i.i i.... ui. ii-1 - as ttt.t vi..i-. i.i'' 1 here ureal l',!" ' York city, Le-iil.il"-' .. BtroitiH thiif -lt .-,'" ( , ... it-.--over I't.unii-. ','.. j... -r Hire who can ! ' , ..... -.- hat. The hit or ii.mit-i .,,. tiiaini) i , .... , n i iiiK the iMWiMliM ''t " . , t--.l lita.i-if'ar. """" . 1 tlan.'eas her htrat-r 's ;., . . . r .l.i.t.'iliMH . . at ti -ritte ri r i . i-Hril. n1 r'fin . t.' tf K-entiva l.iinitf' Ihl little Rii 1. .oi" ".""''."Ht tw m.v-ot. if.oijt. - ft , Bml l.tr liaii. '' '' , .p,;tli of the teiiK" ' giiaiilliv there w ' 'il' 1 " -
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