Newspaper Page Text
TERMS OF THE TIMES.
WYNNE & MARTIN
PubliMticr* and Proprietors.
DAILY, from Oct. 1 to April l,6tn *4 00
•• three months 2 00
“ one month 75
TUI- WEEKLY, from April 1 to Oct. 1.. id 00
•* three months 1 00
** one month 40
WEEKLY, one year 2 00
(Shorter terms in proportion.)
RATES OF ADVERTISING.
One Square, one week $ 2 00
One Square, one month 5 00
One Square, six months 15 00
Transient advertisements SI.OO for first inser
>n. and 50 cents for each subsequent insertion.
Fifty per cent, additional in Local column.
Liberal rates to larger advertisements.
Tll DEN S ACCEPTANCE-
A SfMIIKI K\|M>Kition Of <OOII
(aovernnieul.
Albany, N. Y., July 31, 187 G.
Gentlemen : When I had the honor
to receive a personal delivery of
your letter, in behalf of the Demo
cratic National Convention, held on
the 28th of June, at St. Louis, advis
ing mo of my nomination as the can
didate of the constituency represent
ed by that body for the office of
President of the United Slates. I an
swered that at. my earliest conve
nience, and in conformity with
usage, I would prepare and transmit
to you a formal acceptance. X now
avail myself of the first interval in
unavoidable occupations to fulfil!
that engagement.
The convention, before making its
nominations, adopted a declaration
of principles, which, as a whole,
seems to me a wise exposition of the
necessities of our country and of the
reforms needed to bring back the
Government to its true functions, to
restore puritv of administration and
to renew the prosperity of the peo
ple ; but some of these reforms are
so urgent, that they claim more than
a passing approval.
REFORM IN PUBLIC EXPENSE.
The necessity of a reform in the
scale of public expense, Federal,
State and municipal, and in tile
modes of Federal taxation, Justifies
nil the prominence given to it, in the
declaration of the St. Louis Conven
tion. The present depression in all
the business and industries of the
people, which is depriving labor of
its employment and carrying want
into so many homes, has its princi
pal cause in excessive governmental
consumption. Under the illusions
of a specious prospect, engendered
by the false policies of the Federal
Government, a waste of capital lias
been going on ever since the peace of
1865, which could only end in univer
sal disaster. The Federal taxes of
the past eleven years reach the gi
gantic sum of $4,500,000,(MX). Local
taxation has amounted to two-thirds
as much more. The vast, aggregate
is not less than $7,500,000,000. This
enormous taxation followed a civil
conflict that had greatly impaired our
aggregate wealth, and had made a
prompt reduction of expenses indis
pensable. It was aggravated by
most unscientific and ill-adjusted
methods of taxation that increased
the sacrifices of the people far be
yond the receipts of the Treasury. It
was aggravated more by a Hnan-*
eial policy which tended to dimin
ish the energy, skill and economy of
production, ami the frugality of pri
vate consumption, and induced mis
calculation in business, and an unre
munerative use of capital and labor.
Even in prosperous times the daily
wants of industrious communities
press closely upon their daily earn
ings. The possible national savings
is, at best, a small per oentago of na
tional earnings. Yet now, for these
eleven years, governmental con
sumption has been a larger portion
or 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 pub
lic calamity, but they were never
doubtful never invisible. They
were necessary and inevitable, and
were foreseen and depicted when the
waves of that fictitious prosperity
ran highest.
In a speech made by me on the
24th of September, 1868, it was said
of these taxes: “They bear heavily
upon every man’s income, upon
every industry and every business
in the country, and year by year they
are destined to press still more heav
ily unless we arrest the system that
gives rise to them.”
It was comparatively easy when
values were doubling under repeated
issues of legal tender paper money,
to bay out of the froth of our growing
and apparent wealth these taxes;
but when values recede and sink to
ward their natural scale the tax
gatherer takes from us, not only our
income, not only our profits, but also
a portion of our capital.
I do not wish to exaggerate or
alarm. I simply say that we cannot
afford the costly and ruinous policy
of the Radical majority of Congress.
We cannot afford the magnificent
and oppressive centralism into which
our Government is being converted.
We cannot afford the present mag
nificent scale of taxation.
To the Secretary of the Treasury
I said, early in 1865: “There is no
royal road for a government, more
than for an individual or a corpora
tion. What you want to do now is,
to cut down your expenses and live
within your income. I would give
all the legerdemain of finance and
financiering—l would give the whole
of it for the old homely maxim, ‘Live
within your income/ This reform
will be resisted at every step, but
it must be pressed persistently.”
We see to-day the immediate rep
resentatives of the people, in one
branch of Congress, while struggling
to reduce expenditures, compelled to
confront the menace of the Senate
and the Executive, that unless the
objectional appropriation be consent
ed to the operations of the Govern
ment thereunder shall suffer de
tr mentor ceas<;
In my judgment, an amendment of
the Constitution oughtto be devised
separating into distinct bills the ap
propriations for the various depart
ments of the public service and ex
cluding from each bill all appropria
tions for other objects and all inde
pendent legislation. In that way
alone the revisory power of each of
the two houses and of the Executive
mav be preserved and exempted
from the moral duress which often
compels assent to objectionable ap
propriations rather than stop the
wheels of Government,
THE SOUTH.
An accessory cause, enhancing the
distress in business, is to be found in
the systematic and insupportable
misgovernment imposed on the
States of the South. Besides the or
dinary effects of lignorant and dis
honest administration, it has inflat
ed upon them enormous issues of
fraudulent bonds, the scanty avails
of which were wasted or stolen, and
the existence of which is a public
discredit tending to .bankruptcy or
repudiation. Taxes, generally op
pressive in some instances, have eon-
VOL. 2.
flscated the entire incotno of proper-!
ty and totally destroyed its market \
value. It is impossible \thut these
evils should not react upon the pros- j
perity of the whole country. The !
nobler motives of humanity concur :
with the material interests of all in j
requiring that every {obstacle be ro-!
moved and a complete and durable
reconciliation effected between kin
dred people, once unnaturally es
tranged, on the basis, recognized by
the St. Louis platform, of the Consti
tution of the united States, with its
amendments universally accept,ed as
a final settlement of the controver
sies which engendered the civil war.
But, in aid of results so beneficent,
the moral Influence of every citizen,
as well as of every governmental au
thority, ought to be exerted, not
alone to maintain their just equality
before the law, but likewise to estab
lish cordial and fraternal good will
among citizens, whatever their race
or color, who are now uniting in the
one detiny of common self govern
ment, If the duty shall be assigned
to me I should not, fail to exercise
the powers with which the laws and
the Constitution of our country
clothe its chief magistrate to protect,
all its citizens, whatever their former
condition, in every political and per
sonal right.
CURRENCY REFORM.
Reform is necessary, declares the
St. Louis Convention, to establish a
sound currency, restore the public
credit and maintain t,lie national
honor, and it, goes on to demand a
judicious system of preparation by
public economics,by official retrench
ments and by a wise finance, which
shall enable the nation soon t,o as
sure the whole world of its perfect
ability and perfect readiness to moot
anv creditor entiled to payment.
Yhe object demanded by the con
vention is a resumption of specie pay
ment, in the legal tender notes of the
United (States. That would not only
restore the public credit and main
tain the national itonor, but it would
establish a sound currency for the
people. The methods by which this
object is to be pursued and
the means by which is to be
obtained, are disclosed by what the
convention demanded for the future
and by what it denounced in the
past. Bank note resumption—re
sumption of specie payments by the
Government of the United States in
its legal tender notes-would estab
lish specie payment by all banks on
all their notes.
Official statements on the 15th of
May show that the amounts of the
bank notes was $300,000,000, loss $20,-
000,000 held by themselves. Against
these $280,000,1X10 of notes the banks
held $145,000,000 of legal tender
notes, or a little more than fifty per
cent, of the amount, but they also
had on deposit in the Federal Treas
ury, as security for these notes, bonds
of the United States worth in gold
about $350,000,000 available and cur
rent in all the foreign money mar
kets, la resumitig, the banks, even
if it were possible for all their notes
to be presented for payment, would
have $300,000,000 of specie funds to
pay $280,000,000 of notes, without
contracting their loans to their cus
tomers or calling on any private
debtor for payment.
Suspended banks undertaking to
resume have usually been obliged to
collect from needy borrowers the
means to redeem excessive issues
and provide reserves. A vague idea
of distress is therefore often associ
ated with the process of resumption;
but the distrust which caused rest
lessness in those former instances do
not exist. The Government has only
to make good its promises and the
banks can take care of themselves
without distressing any body. The
Government is therefore the sole
delinquent.
LEGAL-TENDER RESUMPTION.
The amount of the legal tender
notes of the United States now out
standing is less than $370,000,000, be
sides $35,000,000 of fractional curren
cy. How shall the Government
make these notes at all timesas good
as specie? It has to provide, in ref
erence to the mass which would be
kept in use by the wants of business,
a central reservoir of coin, adequate
to the adjustment of the temporary
fluctuations of international balan
ces, and as a guaranty against tran
sient drains artificially created by
panic or by speculation. It has also
to provide for the payment of such
fractional currency as may be pre
sented for redemption and such in
considerable portions of the legal
tenders as Individuals, from time to
time, may desire to convert for spec
ial use, or in older to lay by in coin
their little stores of money.
RESUMPTION NOT DIFFICULT.
To make the coin in the Treasury
available for this reserve, to gradu
ally strengthen and enlarge that re
serve, and to provide for such other
exceptional demands for coin as
may arise, does not seem to me to be
a work of difficulty. If wisely plan
tied and discreetly pursued, it ought
not to cost any sacrifice to the busi
ness of the country. It should tend,
on the contrary, to a revival of hope
and confidence.
The coin in the Treasury on the
30th of July, including what is held
against coin certificates, amounted
to nearly $7,000,000. The current of
precious metals which has flowed
out of our country for eleven years—
from July 11, 1865, to June 30, 1876-
averaging nearly $76,000,000 a year,
was $832,000,000, in the whole period,
of which $617,000,000 were the pro
duct of our own mines. To amass
the requisite quantities by intercept
ing from the current flowing out of
the country and by acquiring from
the stocks which exist abroad, with
out disturbing the equilibrium of
foreign money markets, is a result to
be easily marked out by practical
knowledge and judgment.
With respect 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 re
turned for redemption, they can bo
either paid or they can bo funded.
Whether thev continue as currency
or be absorbed into the vast mass of
securities held as investments is
merely a question of the rate of in
terest they draw. If they were to re
main in their present form and the
Government were to agree to pay on
them a rate of interest, making thorn
desirable as investments, they would
cease to circulate and take their place
-with Government, State, municipal
and other corporate and private
bonds, of which thousands of mil
lions exist among us.
In the perfect ease with which
they can be changed from currency
into investments lies the only danger
to be guarded against in the adop
tion of gcnerallmeasures to remove a
clearly ascertained surplus, that is,
the withdrawal of any which is not a
permanent excess beyond the wants
of business. Even more mischievous
THE TIMES.
COLUMBUS, GA., TUESDAY, AUGUST 8, 1876.
would be anv measure which affects
the public imagination Swith the fear
of an apprehended scarcity.
In a community where credit is so
much used, fluctuations of values
and vissitudes in business arc largely
caused by the temporary belief of
men, even before these beliefs con
form to ascertained realities.
AMOUNT OF NECESSARY CURRENCY.
The amount of tho necessary cur
rency at a given time cannot be de
termined arbitrarily, and should not
be assumed upon conjecture. That
amount is subject to both permanent
and temporary change. An enlarge
ment of which it seemed to bo dura
ble happened at the beginning of the
civil war, by a substituted use of cur
rency in place of individual credits.
It varies with certain states of busi
ness. It fluctuates with considera
ble regularity. At different seasons
of the year, in autumn for instance,
when buyers of grain and other agri
cultural products begin their opera
tions, they usually want to borrow
capital, or circulating credits, by
which to make their purchases, and
want these funds in currency capable
of being distributed in small stuns
among numerous sellers, the addi
tion of currency at which time is
live or more per cent, of the whole
volume, and if a surplus beyond that
procured for ordinary use does not
happen to have been on hand at the
money centres a scarcity of currency
ensues, and also a stringency in the
loan market.
It is in reference to such experi
ences that iu a discussion of this sub
ject, in my annual message to the
New York Legislature of January 5,
1875, the suggestion was made that
the Federal liovernment is bound to
redeem every portion of its issues
which the public do not wish to use.
Having assumed to monopolize the
supply of currency, and enacted ex
clusions against everybody else, it is
bound to furnish all which the wants
of business requires. The sys
tem should passively allow the vol
ume of circulating credits to ebb and
flow according to the ever changing
events of business. It should imi
tate, as closely as possible, the na
tural laws of trade which it has su
perseded by artificial contrivances;
and in similar discussions, in my
message of January 4th, 1876, it was
said that resumption should be ef
fected by such measures as would
keep the aggregate amount of cur
rency self adjusting during all pro
cesses without creating at any time
an artificial scarcity and without ex
citing the public imagination with
alarms which impair confidence, con
tract tho whole large machinery of
credit and disturb the natural opera
tions of business.
MEANS OF RESUMPTION.
Public economies, official retrench
ments and wise finance are the means
which the St. Louis Convention indi
cates. Asa provision for reserves
and redemptions the best resource is
a reduction of the expenses of the
Government below its income, for
that imposes no new charge upon the
people. If, however, the improvi
dence and waste which have con
ducted us to a period of failing rev
enues, oblige us to supplement the
results of economies and retrench
ments by some resort to loans, we
should not hesitate. The Govern
ment ought, not to speculate on its
own dishonor in order to save inter
est on its bonds—promises which it
still compels private dealers to accept
at a fictitious par. The highest na
tional honor is not only right,, but
would prove profitable.
Of tho public debt— s9Bs,ooo,ooo
bear interest at 6 per cent, in gold,
and $72,000,000 at. 5 per cent, in gold,
the average interest is 5.58 per cent.
A financial policy which should se
cure the highest credit wisely availed
of, ought gradually to obtain a re
duction of 1 per cent, on the interest
on most of the loans. A saving of 1
per cent, on the average would be
$17,0(10,000 a year in gold. That sav
ing regularly invested at 4 j per cent,
would, in less than thirty-eight years,
ext inguish the principal. The whole
$1,700,000,000 of the funded debt might
be paid by this saving alone, without
cost to the people.
PROPER TIME FOR RESUMPTION.
The proper time for resumption is
the time when wiso preparations
shall have ripened into perfect abil
ity to accomplish the object with a
certainty and ease that will inspire
.confidence and encourage the reviv
ing of business. The earliest time in
which such a result can bo brought
about is the best; even when the pre
parations shall have been matured,
the exact date would have to be
chosen with reference to tho then ex
isting state of trade and credit opera
tions in our own country, the course
of foreign commerce, and the condi
tion of exchanges with other nations.
The specific measures and the actual
date are matters of detail having ref
erence to ever-changing conditions
that, belong to the dominion of prac
tical administrative statesmanship.
The captain of a steamer about start
ing from New York to Liverpool does
not assemble a council over his ocean
chart, and fix an angle by which to
keep the rudder for the whole voy
age. A human intelligence must be
at the helm to discern the shifting
forces of the waters arid the winds—
a human hand must be on the helm
to feel the elements day by day, and
guide to a mastery over them.
PREPARATIONS FOR RESUMPTION.
Such preparations are everything.
Without them a legislative command
fixing a day—an official promise fix
ing a day, are shows, They are
more—they are a snare and a delu
sion to all who trust them. They
destroy all confidence among
thoughtful men, whose judgment, will
at least, sway public opinion. An at
tempt to act, on such a command -on
such a promise, without prepara
tion, would end in new suspension.
It would be a fresh calamity, pro
ductive of confusion, distrust and
distress.
THE ACT OF JANUARY 14, 1875.
The act of Congress of the 14th of
January, 1875, enacted that on and
after the first of January, 1879, the
Secretary of the Treasury shall re
deem, it) coin, the legal tender notes
of the United States on presentation
at the office of the Assistant, Treas
urer in the city of New York, It
authorized the Secretary to prepare
and provide for such resumption of,
specie payments by the use of any
surplus reserves not otherwise ap
propriated and by issuing in his dis
cretion certain classes of bonds.
More than one and a half of the
years have passed. Congress and
the President have continued ever
since to unite in acts which have
legislated out of existence every pos
sible surplus applicable to this pur
pose. The coin in the Treasury
claimed to belong to the Govern
ment had, on the 30th of June, fallen
to loss than $45,000,000, as against
$59,000,000 on the first of January,
1875, and t.ho availability of a part, of
that now is said to be questionable.
Tho revenues are falling faster than
appropriations are reducing, leaving
the Treasury with diminishing re
sources. Tho Secretary lias done
nothing under his power to issue
bonds. The legislative and the of
ficial promise fixing a day for re
sumption have thus far been barren.
No practical preparations towards
resumption have boon made. There
lias been no progress. There is no
economy itt the operations of gov
ernment. Tho homely maxims of
every-day life are the host standards
of its conduct. A debtor who should
promise to pay a loan out of a sur
plus income, yet be seen every day
spending all lio could lay his hands
on iu riotous living, would lose all
character for honesty and veracity.
His offer of anew promise, or ills
profession us to the value of the old
promise, would alike provoke deris
ion.
The resumption plank of the St.
Louis platform denounces the failure
for eleven years to make good the
promise of legal tender notes. It de
nounces the omission to accumulate
any reserve for their redemption.
It denounces ttie conduct which dur
ing eleven years of peace has made
no advances towards resumption, no
preparations for resumption ; but in
stead of it,, has obstructed resumption
by wasting our resources and ex
hausting all our surplus income, and
while professing to intend a speedy
return" to specie payments has an
nually enacted fresh hindrances
thereto ;|and having first denounced
tho barrenness of tile promise of a
day of resumption, it next denounces
that barren promise as a hindrance
to resumption. It next demands its
repeal, and also demands the estab
lishment of a judicious system of pre
paration for resumption. It cannot
be doubted that tho 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 exchange
for its shadow, nor is its denunciation
unmerited of that improvidence
which the eleven years since the
peace ,has consumed ! $4,500,000,000
and yet could not afford to give the
people a sound and stable currency.
Two and a half per cent, on tiie ex
penditures of t hose eleven. years, or
even less, would have provided all
the additional coin needful to re
sumption, and relieved the business
distress. The distress now felt by
the people in all their business and
industries through it, has its princi
pal cause in tho enormous waste oi
capital occasioned by the false poli
ties of our Government, and has been
greatly aggravated by tho misman
agement, of the currency. Uncer
tainty is the prolific point of mis
chief iu all business. Never were its
evils more felt, than now. Men do
nothing because they are unable to
make any calculations on which they
cau safely rely. They undertake
nothing, because they fear a loss in
everything they undertake. They
stop and wait. The merchant dares
not to buy for the future consump
tion of his customers; the manufac
turer dare not make, fabrics which
may not refund his outlay. He shuts
his factory and discharges his work
men. Capitalists cannot lend on se
curity they consider not safe, and
their funds lie almost without inter
est. Men of enterprise who have
credit of securities to pledge will riot
borrow. Consumption has fallen be
low the natural limits of a reason
able economy. Prioesof many tilings
are under their range in frugal specie
paying times before the civil war.
The vast masses of currency in the
banks untouched. A year and a half
ago the legal tenders were at ttieir
largest volumes and tho $12,000,000
since retired have boon replaced by
fresh issues of $16,000,000 of bank
notes. In the meantime the banks
have been surrendering about $4,000,-
000 a month, because they cannot
find a profitable use for so many of
their notes.
The public mind will no longer ac
cept shams. It has suffered enough
from illusions. An insincere policy
increases distrust. An unstable pol
icy increases uncertainty. Tho peo
ple need to know that the Govern
ment is moving in a direction of ul
timate safety and prosperity, and
that it is doing so through prudent,
safe and conservative methods,
which will be sure to inflict no new
sacrifice on the business of tho coun
try. Then the inspiration of new
hope and well founded confidence
will have the restoring processes of
nature and prosperity will begin to
return.
The St. Louis Convention con
cludes its expression in regard to rite
currency by a declaration of its con
victions as "to the practical results of
the system of preparations, it de
mands. It says, we believe, .such a
system well devised and above all in
trusted txXcompet.ent hands for execu
tion, creating at no time an artificial
scarcity of currency and at no time
alarming the public mind Into a
withdrawal of that vast machinery—
erdit— by which 95 per cent, of all
business transactions are performed,
a system open, public, jand inspiring
general confidence, should, from the
day of its adoption, bring healing on
its wings to all our harassed indus
tries, set in motion tho wheels of
eomtncrce, manufactures and the
mechanic arts, restore employment
to labor, and renew in all its natu
ral sources the prosperity of the peo
ple.
The Government of the United
States, in my opinion, can advance to
a resumption of specie payments on
its legal tender notes, by gradual
and safe processes, tending to relieve
the present business distress.
If charged by the people with the
administration of the Executive of
fice, I should deem it ajduty so to ex
ercise the powers with which it has
been or may be invested by Congress
as best and soonest to conduct the
country to that beneficent result.
CIVIL SERVICE REFORM.
The convention justly affirms that
reform is necessary in civil service
necessary to its purification—neces
sary to its economy arid its efficiency,
necessary in order that the the ordi
nary employment of the public busi
ness may not boa prize fought for at
the bal’ot box a brief reward to
party zeal instead of posts of honor,
assigned for proved competency and
held for fidelity in the public employ.
The convention wisely added that re
form is necessary even more in the
higher grades of the public service.
President, Vice President, Judges,
Senators, Representatives, Cabinet
officers—these and all others in au
thority, are the people’s servants.
Their offices are not a private per
quisite-they are a public trust.
Two evils infest tho official service
of the Federal Government, One is
the prevalent and demoralizing no
tion that ttie public service exists,
not for the business and benefitofthe
whole people, but for the interest of
the officeholders, who are, in truth,
but the servants of tho people. Un
der the influence of this pernicious
error, public employments have
been multiplied. Tho number of
these. gathered into tho ranks of the
officeholders, have been steadily in
creased beyond any possible require
ment of tho public business, whilo
inefficiency, peculation, fraud and
malfeasance of tho public funds,
from the high places of power to tho
lowest, have overspread the whole
service like a leprosy.
The other evil is the organization
of the official class into a body of
political mercenaries, governing tho
caucus and dictating nominations of
their own party, and attempting to
carry the elections of tho people by
undue influence and by immense
corruption, by funds systematically
collected from tho salaries or from
the office-holders.
The official class in other countries,
sometimes by its own weight, and
sometimes in alliance with tho army
lias been able to rule the unorgan
ized masses, even under universal
suffrage. Here it has already grown
into a gigantic power, capable of
stifling the inspiration of a sound
public opinion and of resisting any
change in the administration, until
mis-government becomes intolera
ble and public spirit has been stung
to the pitch of a civil revolution.
The first step in reform is the ele
vation of the standard by which the
appointing power selects agents to
execute official trusts. Next in im
portance is a conscientious fidelity iu
the exercise of the authority to hold
to account and displace untrustwor
thy or inoapuble subordinates. The
public interest in an honest, skillful
performance of official duty must not
bo sacrificed to the usufruct of the
incumbents. After these immediate
steps, which will insure the exhibi
tion of better examples, we may wise
ly go on to tho abolition of unneces
sary offices, and, finally, to the pa
tient, careful organization of a better
civil service system under the lists,
wherever practicable, by proved com
petency and fidelity. While much
may be accomplished by those meth
ods, it might encourage delusive ex
pectations if withheld here, by the
expression of my conviction that no
reform of the civil service, in this
country, will bo complete and per
manent until its Chief Magistrate is
constitutionally disqualified for re
olootion, experience having repeated
ly exposed the futility of self-impos
ed restrictions by candidates or in
cumbents. Through this instrumen
tality only can he be effectually de
livered from his greatest temptation
to misuse the power and patronage
wit.li which the Executive is of neces
sity charged.
CONCLUSION.
Educated in the belief that it, is tho
first duty of a citizen of the republic
to take his fair allotment of care and
trouble in public affairs, I have, for
forty years, as a private citizen, ful
filled that duty. Though occupied
in an unusual degree, during all that
period, with the concerns of Govern
ment, I have never acquired the
habit of official life. When a year and
a half ago, I entered upon my pres
ent trust, it was in order to consum
mate reforms to which I had already
devoted several of the best years of
my life. Knowing as I do, therefore,
from fresh experience, how great is
the difference between gliding
through an official routine and work
ing out, a reform of systems and poli
cies, it is impossible for mo to con
template what needs to be dono in
the Federal administration without,
an anxious sense of the difficulties of
tho undertaking. If summoned by
tho suffrages of my countrymon to
attempt this work, I shall endeavor,
with God's help, to bo tho efficient
instrument of their will.
Samuel J. Tilden,
To Gen. John A. IMcClernand,
Chairman, Gen. W. B. Franklin,
Hon. J. J. Abbott, lion. H. J. Shaun
horst, Hon, H. J. Bedfield, Hon.
F. S. Lyon and others, Committee,
etc,
, >—— — .
Ni:\V YOUKNEWN.
New York, August 7.—The striking
longshoremen to-day* made some
very threatening movements towards
new hands who have been employed
in their stead, but were effectually
prevented by the police from making
any assault.
Commodore Vanderbilt was quite
feeble this morning. His chief dif
ficulty is trouble with the prostate
gland and inflamationof the bladder.
He has suffered from this ailment for
nearly forty years. This afternoon
he felt much easier. Thurlow Weed,
Dr. Deems and otiiers called during
the day.
Agents of the Lehigh Valley Rail
road Company are in this city with
reference to the rumor that coal
mining would be totally suspended
in Pennsylvania districts to-mor
row. They state that they do not
know of any movement to suspend
mining. They believe the rumor has
been started to affect tho price of
coal stocks.
The thermometer reached to-day
95 degrees. Several suntrokes oc
curred.
A, Leary, the pedestrian, who
started at the rink this a. m. to walk
500 miles within six days, was be
hind time at noon, having only ac
complished fifty miles. He is quite
fresh, however, and confident of suc
cess.
- ——
Fight With the Indians.
Chicago, August 7.--Troops near
the Rio Grande in Texas attacked a
camp of hostile Kickapoos and
Lipans on tho fourth irist., killed ten
and captured four Indians, and took
100 ponies.
-- - -
The Win! her To-lln y.
Washington', August 7.- During
Tuesday, in the South Atlantic and
Gulf States, rising, followed by fall
ing barometer, slight changes in
temperature; soutwest to southeast
winds, and clear or partly cloudy
weather will prevail, with possibly
rain areas in tho southwest and
Caroiinas.
NO. 134
CONGRESSIONAL.
MTt ninv, AtietsT stii.
SENATE.
Washington, August 6.—A long
discussion was had in tho Senate, be
tween Morton, Thurman, Patterson
and others, on the motion of the
former to print 10,000 copies of the
President’s Hamburg message. The
printing was ordered.
HOUSE.
The Banking and Currency com
mittee reported a bill repealing the
resumption clause of the act of 1875.
The bill was passed by a vote of 100
yeas to 86 nays.
Yeas -Messrs. Ainsworth, Ander
son, Atkins, Banning, Bland, Boone,
Bradford, Bright, Brown of New
York, Brown of Kentucky, Cabell,
Caldwell, of Alabama, Caldwell of
Tennessee, Campbell, Cannon. Cate,
Caulfield, Clark, of Kentucky, Clark,
of Missouri, Clymer, Cochrane, Col
lins, Cook, Cox, Dibrell, Douglass,
Durham, Eden Evans, Faulkner,
Felton, Finley, Forney, Fort, Frank
lin, Gauze, Goode, Gordon, Gunter,
Harrison Hantzell, Haymond,
Henkle, Hereford, Holman, Hooker,
Hopkins, House, Hubbell, Hunton,
Hurd, Jones of New York, Landeirs
of Indiana, Lane, Lawrence, Lewis,
Lynde, Mackey, Marsh, McFarland,
McMahon, MHleken, Mills, Morgan,
Mutchlet, Neal, New, Payne, Phelps,
Poppleton, Randall, Rea, Reagan,
Reily, Rice, Riddle, Robinson, Sav
age, Sheakley Singleton, Slemons,
Smith of Georgia, Southard, Spring
er, Steuger, Stevenson, Stone Teese,
Thomas, Throckmorton, Tucker,
Turney, Van Vorhees, Vance of
Ohio, Waddell, Walker of Virginia,
Walsh, Wells, Witthorne, Williams
of Indiana, Williams of Alabama,
Wilshire, Wilson of West Viginia,
Yeates and Young-106.
Nays—Abbott, Adams, Bagby, G.
A Bagley, J. 11. Bagley, Baker, Bal
lon, Banks, Bell, Blair, Burohard of
Illinois, Cawell, Chittenden. Conges
Cronnes, Cutler, Banford, Davy, Du
rand, Eanies, Ely, Freeman, Frye,
Gibson, Hale Hancock, Hardebergh,
Harris of Massachusetts, Henderson,
Hewitt of New York, Hoar Hoge,
Ilyram, Joyce, Kasson, Kehr, Kim
ball, Lamar, Laphan, Levy, Lynch,
MoDougall, McCreary, Meade, Met
calf. Miller, Monroe, Morrison. Nash
Norton, Obrien. Odell, O’Neill, Pack
er, Page, Pierce, Piper. Platte, Pot
ter, Powell, Ramsey, Ross, Rusk,
Sampson, Schleicher, Sinnikson,
Smalls, Smith of Pennsylvania,
Strait, Stoweli, Thompson, Thorn
burg, Townsend of Pennsylvania,
Tufts, Wait, Walker of New York,
Ward, Warren, Wells of Mississippi,
White, Whiting, A. Williams of
Michigan, Willis, Wilson of lowa,
and Woodburn—Gß.
Mr. Cox then reported a bill for a
commission of three Senators, three
Representatives and three experts, to
to inquire,
First—lnto the change that has
taken place in the relative value of
gold and silver, the causes thereof,
whether permanent or otherwise, the
effect thereof on the trade, com
merce, finance and productive inter
ests of the country, and on the stand
ard value in this and foreign coun
tries.
Second—lnto the policy of the re
storation of the double standard in
this country, and, if restored, what
tho legal relations between the two
coins (silver and gold) shall be.
Third—lnto the question of the
policy of continuing legal tender
notes concurrently witii metallic
standards, and their effect on the la
bor, industry and wealth of the
country.
Fourth—lnto the best manner of
providing for facilitating the re
sumption of speeio payment.
The commission to report on or be
fore the 17th of January.
An hour and a half took place,
turning chiefly on the question
whether the bill demonetizing silver
was or was not passed through the
House surreptitiously and without
reading, the afirmation of the ques
tion being held by Bland of Missouri,
Holman, of Indiana, Fort, of Illi
nois, and the negative by Kasson, of
lowa, and Townsend, of Pennsyl
vania.
Mr. Fort declared that tho author
of the bill demonetizing silver, was
a London gentlemen who came to
Washington and spent the winter
there.
Finally the question was taken and
the bill passed.
MONDAY, AUGUKTItIi.
SENATE.
Washington, August 7.—Senate
met at 11 a. m., with less titan half
a quorum present.
Mr. I<!ernan, from Committee on
Finance, reported Senate bill to
amend section 239 of the revised stat
utes, to allow repayment of tonage
tax in certain cases, and it was placed
on the calendar.
On motion of Mr. Edmunds, the
joint resolution in relation to the
wreck of the United States Monitor
Tecuraseh was taken up, amondod
and passed.
Mr. Sherman reported bill to fur
ther extend time for redemption of
lands sold for direct taxes with the
recommendation that the House
amendment be concuraed in—agreed
to.
Mr. Boutwell, from the select com
mittee to investigate the condition of
affairs in Louisiana, submitted a re-
port. Tho reading of the report was
postponed.
Mr. Maxey presented resolutions
of tho Legislature of Texas relative
tothedoath ofGon. Custer—ordered
printod.
On motion of Mr. Wright, the Sen
ate took up the bill far the payment
of the Southern Claims Commission.
A largo number of amendments were
agreed to, and hill passed.
On motion of Mr. Sherman, the
House bill repealing the resumption
ary clause in the act of January 14,
1875, and the resolution providing for
a gold and silver commission, were
referred to tho Finance Committee.
Tho regular order was demanded,
and the Senate resumed considera
tion of the resolution to print 10,000
copies of the President’s Hamburg
massacre message.
Mr. Edmunds continued his re
marks in arraignment of tho Demo
cratic administration of the Govern
ment of Texas.
Mr. Allison, at tho conclusion of
Mr. Edmunds’ remarks, submitted a
report from the Committee of Confer
ence on the River and Harbor Appro
priation Bill, which was ordered to
be printed and laid over.
Mr. Allison submitted a memoran
dum showing that the appropriation
for certain works had been reduced
from the amount in the Senate five
millions, and others had been in
creased to a like total amount.
Mr. Logan then addressed the Sen
ate, delivering a great speech upon
tho general political situation.
Mr. Eaton criticized the action of
the President in responding to the
resolution, sending, as he charged,
extraneous matter and going out of
tho lino of duty to arraign the people
of two States of the Union about
whom no inquiry was made by the
Senate. Mr. |Eaton defended the
letter of Tilden accepting the nomi
nation from an attack made upon it
by Mr. Edmunds, and without con
cluding his remarks gave way to a
motion to that effect, and at five
o’clock the Senate went into execu
tive. session, and soon thereafter
adjourned. s
HOUSE.
The Speaker proceeded at once to
call States for bills and resolutions
for reference only. The reading of
each bill was demanded to consume
time, and hence but few were intro
duced. Among them were the fol
lowing :
Mr. Ballau, of Rhode Island—to
promote the efficiency of the United
States Navy. It provides for the
appointment of civil engineers.
Mr. Douglass, of Virginia—resolu
tion to amend the rules so as to allow
all comittees of investigation to re
port at any time during the present
session of Congress.
Mr. Hurlbut, of 111.,, made the
point of order that under this call
simple resolutions could not be of
fered. The Speaker overruled the
point of order, on the ground that
resolutions to amend rules were ox
cepted.
Mr. Hale, of Maine, moved to refer
it to the Committee oa Appropria
tions.
Mr. Cox made the point that all
propositions to amend rules must of
necessity be referred to tho Commit
tee on Rules.
The Speaker overruled the latter
point, and Mr. Hale appealed from
the decision of the chair, and Mr.
Springer, of 111., moved to lay the
appeal on the table.
On the latter motion no quorum
voted on a rising vote, and the yeas
and nays were ordered. The vote
was 24 yeas to 11 nays. No quorum,
as the opponents of the resolution
refrained from voting.
On motion of Mr. Holman, a call
of the House was then ordered, end
a quorum appointed, 193 members
having answered to their names.
Tho question then recurred again
upon laying the appeal upon the ta
ble.
Mr. Hale appeared for the with
drawal of the resolution. He said
the minority would not object to the
presentation of reports of Commit
tee Investigations, provided no ma
jority report was made unless
the minority were ready with their
reports, If this rule was adopted,
however, the majority could take ad
vantage and report any time.
Mr. Cox hsked Mr. Halo if he
would give assurance that his side
would not object to the presentation
of reports.
Mr. Hale was not authorized to
give that assurance. He could only
say that no objection had been made
when the minority was ready.
The roll was again called, and the
motion to lay tho appeal on the table
prevailed.
Hitch on the Legislative Appropriation
Bill.
Washington, August 7.—The con
ference committee on the Legislative
Appropriation bill held another
meeting this p. m. They seem to be
as far from an agreement as ever.
The report that they had agreed is
incorrect. This afternoon the indi
cations were that the committee had
agreed to disagree; that the members
of tho Senate committee indicated
their ultimatum, and left it to the
members of the House committee to
decide whether they would accept
it or not. It is generally believed
that Mr. Randall, of House commit
tee, is the great stumbling block in
the way of an agreement, and that
were it not for him tho committee
would soon agree. As the ease
stands, it seems almost unnecessary
to appoint anew conference commit
tee. The present one has exhausted
every means to agree, but owing to
tho stubbornness of the members of
the House committee, have beenuna
ble to do so.
