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WM. L. SAUNDERS, Editor.
WILMINGTON, N. O., FKinAV, AUOUST 11, 1870. Till: Vril-JIIINIJ ION JOHHIMAL. IMial) and tVcckly. 'lor ms of Niihwrriptlon Cn.li in Advance. The Dati.y Journal is mailed to sutv-s.-ribers at Six ooi.lais yor annum, TlIRKK HOM.AIi.-i ANO TWKNTY-FlVf cksts for si x iiiotiliis; Own ioli.ak and .skvk.nt v-ki v k rfcrTs for tluer- months Tlif Wi-yKi.v .loiTUNAI. is mailed to SllliSi'l il m S at, 0.K DOLL K AM A HA' F I er :nmum; Oftk i i la i: for si months; Ki -1 v i.N I sfT three riH-ntlis. A d VKtvrVfvi v; n i f s: Advert isvinnt.s wiH le inserted in the I)Aii.Y.loi'i:v;,i,;.i !V.!.iv.-: For ue inr.h on!', "iiis.-i I i ,n : -i:v k.n ;r - ki vn. ckntk; two iiSM-tioilS SK O.K.I Ai: three illltiHIH (.;!'. ImiI.I .. i: M 'I WK-NTV-KIVK KNTs; i.newi- k two iofi.i:; !i iiMi'. tb. H1X OoJ.l Al;-i AND A il All'. Illiei- lllOUtli.S F.F 'I KKV I'l,' A i:! i rllOliUiS T KNTY-KIVK Jiol.i Al.. To iiCUKSI'dMiRXTS. Ji-siiiliZ 1 Ui.ik- tlie JnlKNAL thf si kill 1 1 of tliH j wo If, tin Editor eor- tidily iuvittw ne pornf nre from a!l or i.,i.s - t'tl St, te. For President : Samuel J. Tilden, oj'1 ni:w roiiK. For ,MT-Pr'silei!t: Tlionas A. Hendricks. OF INDIANA. For (,'OH'rnor : ebulon B. Vance, OF MI'HJKTiENr.Uia. For Liriilmaiit-Uoii'riior : Thomas J. Jarvis, of rrrr. For Secretary of State: .TOSEPIT A. EN JEL1IARD, Of Now Hanover. For Attorney General: THOMAS H. KENAN, OF Wilnon. For Treasurer: J. M. WOllTJI, Ol' Randolph. For Auditor: SAMUEL L. LOVE, Of Haywood. Tor Hupt. of Public Instruction: J. C. SCARBOROUGH, Of .Johnston. Presidential Electors for the Stato at Large- UANIKIi i. KOWLK, or Wake. .1. M. LKAOJI, ot Davidson. District Electors- 1 District -.II1N l W T K.N , of Lenoir.? " .IN. I. HTANt'OKt), of Duplin 41 !i " K. If. of Wake Mh " F. (). HultlilN.of Davidson. ctli " M. I W A HI NO, of Mer-klenl.nrg '.th ' V. It- OLRNN, of Yadkin. I oic : rv it I", s s . Timu) distiuctt: Alii' It ED M. WAD DELL, Of New Hanover. ronuTii Dismrcyr: .lOSEl'JI J. DAVIS, Of Franklin. fifth distutot: alfued m. hcales, Of Rockingliam. sixtp district: WALT.KK L. STEELE, Of Richmond. SKVF.NTIT DISTRICT: WILLIAM M. ROBBTNS, Of Iredell Our suiiM iibers will greatly oblige us by giving prompt information of any delay in receiving their papers. , icaoicai, icii.m:Y irioicr. ci vil, iti;iirs. Senator Boutwell, of Massachusetts, the Chairman of the Senate Commit, too appointed to investigate matters in Mississippi, reported on Monday last that the Democrats had gained possession of tho government of that Stato by force and fraud, and proposed as a remedy to prevent "Radicals from losing power, "to remand tho State to a Territorial condition, and through a system of pnblio education and kin dred moans of improvement change tho ideas of tho inhabitants and recon struct the government upon a Repub lican basis." Precisely what sort of system of public education Mr. Boutwell thinks in best adapted for changing tho ideas of a people we already know. Two years ago he deliberately put upon record the declaration that the perr. petuity of Republican institutions depended upon destroying all distincs lions and prejudices arising from race and color by educating white and negro children side by side in the same school rooms. This is what he means by remanding a state to ft territorial condition and changing tho ideas of its people by a system of pnblio edu cation. Upon t ho lloor of the United States Senate in 1871, Mr. Boutwell said: "And therefore I say, if it were pos sible, as in the large cities it is possi ble to establish separate schools for black children and for white children, it is in tho highest degree inexpedi ent to either establish or tolerate suoh schools. Tho theory of human equali ty cannot be taught in families taking into account tho different conditions of tho different members of the parties comprising human society, but in the public school where children of all classes and conditions are brought to gether, tho doctrine of human equality can be taught, and it is the chief means of securing tho perpetuity of republican institutions. And inas much as we have in this country four million colored people, I assume that; it is a public duty that they and the white people of the country with whom they are to bo associated in po litical and public affairs, shall be as similated and made one in the fnndov mental idea of human equality. There fore, were it possible to establish dis trict schools, I am against it as a matj terof public policy." Wo see now what wo have to ex pect if the Radical party once more gets control of Congress. Democratic States will be remanded to a terri torial condition and white children and negro children sent to the same schools until the ideas of our people shall be so changed that whites and blacks will no longer recognize any distinction growing out of race or color. But this infernal condition of affairs cannot be brought about so long as we have a Democratic House of Representatives a fact that it is well to remember. i in: AitiKNitii i s-i.i:i aukum uk ADtPn:i. j !J 1 tie soveutii article oi tne .Hpstiiu t.ion relates to muuicipal corporation-) that is to say, to our couuty, town ancl city governments. The ameii'lm-nt proposed tt this Hrtielo of the Consti tution is a very important and a very sweeping onv " that it places the p.jwer over these several government. once m re in the hands of the people. The am?ndment is in these words: "The General Assembly shall havt full power by statute to . modify, change or abrogate any and all of the provisions of this article and substi tute otfiers in their place, except sec lions seven,nine and thirteen.' Section 7, referred to above, forbidn any county or town from contracting any debt or levying any tax except f r necessary expenses, nn'ess it be done by a rote of a majority of the 'qualified vi.tei-M therein. . Section 1) requires til tMVition to lie uniform ami ad va li,rt ii S'-ction l.'i forbid tho pitytnent of any war debt. Ah iioone de ired the legislature to do any of th- Ihiugs forbidden in the restrictions mi wised upon itpiver by tho above sections, tho Convention wisely left them untouched. The effect of the proposed amend ment, it will be seen i4 to give the Tj-f-islature Ihe entire control of the eonnfv fvn ments and the election of Justic. H of the Pence; that is, the Ceneral Assembly m ly continue them as they are now, or change them as Uiey may be in.t meted by the peo ple. It will h vo the power to abolish many uhcIpkn offices and save to the people large sums of money nowpaid sp salaries to the men who fill them and above all it will be empowered to pro vide that we who live under negro rule may once more enjoy the bless ings of honest intelligent government. The importance of tnis Amendment, we repeat, arises from the power it c-nfers upon tho Legislature to abol ish the present system of couuty and township governments, and to substi tute another therefor. The Legisla ture had tho same power under the old Constitution, the one that was the handiwork of oui fathers, and so have now the Legislatures of a majority of the States in the Union. No harm, bnt great good came of it in the past and the same will be the case in the future. Tho power conferred by this amend ment goes so far as to enable the Leg islature to establish one system of county government in one county and a different one in another, as the ne cessities of the case may require, and in this way if no other, will enable the Legislature to free us from negro rule. Townships and their governments are also put in the power of the Legis laturo by this amendment and will doubtless be speedily stripped of their unnecessary power of taxation. The people aro taxed enough already for unavoidable State and county purposes vrithont having the additional burden of a township tax laid upon them. If the amendments shall be ratified it will be safe to say that there will nevor be another township tax levied or col lected. This township system is and has been exceedingly odious to the people of North Carolina. Indeed there can scarcely be found an intelli gent man in the State who is in favor of the present township system, pre cisely as it stands in the Canby Con stitution, who is not also directly inter ested in its perpetuation as an office holder or from some other selfish mo tive. Magistrates too, as to their appoint ment, come under the control of the legislature by virtue of this amend ment. If the amendments shall be ratified we venture to say the days will not be long in the land when white men will have to pull off their hats in negro magistrates" courts. White people do not want negro magistrates, they do not want negro judges, and there Is no use to try to disguise the fact. Oar very natures as well as our skins will have to change before it will be otherwise. We do not desire to oppress the negro or to Wi ong him in in any way but we certainly do not wish him to sit in judgment upon our lives, our liberties, or our property. The amendment proposed by the' Convention to this article of the Con -stitution bears out in a striking man- , nor the ussertiou that the object of the Democratic members of the Con vention was to restore their rightful power to the people and to secure an economical expenditure of their money; and most admirably did they succeed, when it is romembered how great and how frequent obstructions were thrown in their way by Radical delegates. If the amendments shall be ratified the Constitution will then be in a bearable shape inasmuch as everything can then bo done with the consent of the people, while without that consent nothing can be done. The amendments distinctly recog nize that the will of the people shall be ascertained aud not only ascertained but obeyed in framing the Constitu tion and laws of North Carolina. Many men doubtless laugh at the idea of caring for "the will of tho people," but if these amendments shall be rati fied that same "will of the poople" will once more become a power in the land. hOYEUNOIl TILDEX'S LETTER ACCEPTANCE. OF AiiBANY, July 31st, 1870. Gentlemen: When I had the honor to receive a personal delivery of your letter on behalf of the Democratic National Convention, held on the 28th of June, at St. Louis, advising me of my nomination as the candidate of the constituency represented by that body for the office of President of the United States, I answered that, at my earliest convenience, and in conformity with usage, I wonld prepare and transmit to you a formal acceptance. I now avail myself of the first interval in unavoidable occupations to fulfill that engagement. " The Convention, before making its nominations, adopted a Declaration of Principles, which, as a whole, eeems 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 purity of administration and to renew the prosperity of the people. But some of these reforms are so urgent that they claim more than a passing ap proval. REFORM IN rUELIO EXPENSE. The necessity of reform in the scale of public expense Federal, State and Municipa,'-: 'iufd in the tnods ot Fei! oral tasioB justifies all tlie promi " neijee given io it in the Deolar.itnu of the" St. Louis Convention. - . i The present depression 'of btfsiu,s and industries of the pop! , which it depriving labor of its employment.aud carrying want into so mauy homes, hab its principal cause in excessive gov ernmental consumption. Under th illusions of a specious prosperity,' en gendered by the false policies of the federal government a waste of cipital has been going on ever siuo the peace of 1865. which could only end in uni versal disaster. The federal taxes of tho lust eleven yeard reach the gigautic suin of 4,5'Jti millions. Local taxation has amounted to two-thirds as much more. Tho vaft aggregate is not less than 7,500 mil , lions. , This enormous taxation followed u civil coi llicfc that had great ly impaired our aggregate wealth, and had made a prompt reduction of expenses indi pe.nsdble. It. as aggravated by most untteien ulic and ill ailj't-ted methods of luxa iioii that increased the sacrifices of th- HiIe far beyond the i-t-cuiplM of the treasury. It vs aggregiltc.il , moreover, by financial policy which tend- d to di minish the energy, skill and economy of production, and the frugality ol private consumption, and induced mis calculation in business and an uure ruunei alive use of capital aud labor. Liven in prosperous times the daily wants of industrious communi ties press closely u ou their daily earn ings. - The margin of possible national saving is at bent a small, percentage of national earnings. Yet now for these eleven years governmental con sumption has been a larger propori. on of thw national earnings than the whole people can possibly save even in pros perous times for all new investments. The consequence of these errors are now a present pnbiio calamity. They were necessary and inevitable, and were foremen and depicted when the waves of that fictitious prosperity ran highest. In a speech made by me on the 24th of September," 18oS, it was aid of these taxes: They bear heavily upon every man's in come, upon every industry and every busi ness in the country, aim year by year they are destined to i tress still more heavily, un less we arresi, the system that, gives rise to them. It was comparatively easy when values were doubling under repeated issues of lf"A tender paper monies, to pay out. of the froth of our growing and apparent wealth these taxes, hut when values re cede and sink towards their natural scale, the tax-gatherer takes from us not only our income, not only our profits, hut aTso a noi t.in i 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 party in Con gress. We cannot allbrd that policy to wards the South. We cannot afford the magnificent aud oppressive centralism into whici our government is being con verted. We cannot allbrd the present mag nificent scale of taxation. To the Secretary of the Treasury, 1 said,' early in 1865: There is no royal road for a government more than tor an individual or a corpora tion. What you want to do now is to cut down vour expenses and live within your income. 1 would give all the legerdemain of finance and financiering I would give the whole of it for the old, homely maxim, "I jive within your income." This reform will be resisted at every step, bnt it must be pressed persisent- ly. We see to-uay tne immeaiaie representatives ot tho people in one branch of Congress, while struggling to rednce expenditures, compelled to confront the menace of the Senate and the Executive that unless tho objec tionable appropriations be consented to, the operations of the government thereunder shall sutler detriment or cease. In my judgment, an amend ment to the Constitution ought to be devised separating into distinct bills the appropriations for the various dc partments of the public service, and excluding from each bill all appropria tions for other objects, and ail inde pendent legislation. In that way alone can the revisory power of each of the two houses and of the ,Ji,xecutive be preserved and exempted from the moral duress which often compels assent to objectionable appropriations, rather than stop the wheels of tho government. THE SOUTH. An accessory cause enhancing the distress in business is to be found in the systematic and insupportable mis government imposed on the States of the South. Besides the ordinary effect of ignorant aud dishonest ad ministration, it has inflicted upon them euormors 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 oppressive, in some in stances have confiscated the entire income of property, and totally de stroyed its marketable value. It is impossible that these evils should not react upon the prosperity of the whole country. The noble motives of humanity con cur with material interests of all in requiring that every obstacle be re moved, to a complete and durable ro conciliation between kindred popula tions once unnaturally estranged, on the basis recognized by the St. Louis platform, of the ''Constitution of tho United States, with its amendments universally accepted as a final settle ment of the controversies which en gendered civil war." But, in aid of a result so beneficent,' the moral influence of every good cit izen, as well as Bvery governmental authority, ought to be exerted not alone to maintain their just equality before the law, but likewise to estab lish a cordial fraternity and good will among citizens, whatever their race or color, who are now united in the one destiny of a common self-government. If t he duty shall be assigned to me, I should not fail to exercise the powers with which the laws and the constitu tion of our country clothe its chief magistrate, to protect all its citizens, whatever its former condition, in every political and personal right. CUftRENCY REFORM. Reform is necessary, declares the St. Louis Convention, to establish a sound currency, restore the public credit and maintain the national honor; and it goes on to demand a judicious system of preparation by public econojaies.by official retrenchments and .by wise finances, which shall enable the nation soon to assuro the whole world of its perfect ability and its perfect readi ness to meet any of its promises at the call of the creditor entitled to pay ment The object demanded by the Con vention is a resumption of specie pay ments on the legal tender notes of the United States. That would not only restore the publie credit and maintain the national honor, but it would "es tablish a sound currency for " the people." The methods by which this object is to be pursued, and the taeans by whioh it ia to be attained, are disclosed by what the Convention demanded for the future, and by what it de nounced in the past. BANK NOTE RESUMPTION. Resumption of specie payments by the Government of the United States on its legal tender notes would estab lish specie payments by all the banks on all their notes. The official state ment, made on the 12th of May. shows that the amount of the bank notes was 300 millions, less 20 millions held by -' ... , T " of notes; the. banks held 1-41 mdljous of W:gal tender notes, or a little mon 'than fifty per c-ut of their ainouut lint tuey ai.so neia on ueposu in iue Federal Treasury, as security for these notes, bonds of the United States, voith in irold about 300 millions, ivailablo and current in all tht foreign money, market, In resuming, the iiiiuks, -ven if it were possible for all their note? to be presented for pay ment, would have 500 millions of Specie fuuds to pay 280 millions of uot.es, without contracting their loans to their customers, or calliug on any private Jebtor for payment. Suspend ed bauks, uudertaktug to resume, have usually be: n obliged to collect from needy borrowers the means to redeem exoewsivo ntsues aud to provide re serves, a vague idea of distress is, thereore, often associated with the proce'.s of resumption. -B.it the condi tions which caused distress in those former instances do not now exist. The government has only to make go d its own promises ami tho banks (tin take iarr of themselves without distressing anybody. The government is, therffori-, t!n- sole delinquent. . TiF.O.VIi-TKN DKR UKsUMPTI:.N. The amount of the legal tender notes of the United States now outstanding is less than. :!70 millions of dollars, besides 3-1 millions of dollars of frac tional currency. How shall tho gov ernment make these notes at all times as good tis specie ? It. has to piovide, in reference to th mss which would lie kept iu use by tlu, wants of business, a central reser voir of coin, adequate to the adjust ment of the temporary fluctuations of international balance-. 'and as i gimr anty against transient draius artificially civittfii by panic or by speculation. . It has also to provide for ihe pay mentin coin of suoh fractional curren cy as may be presented for redemption, aud such inconsiderable portions of the bgal tenders as individuals may. from lime to time, desire to convert, for special use, or in order to lay by in coin their little storesof money. RESTJMVTION NOT 11 FFIOTJkT. To make the coin now in the treas ury available for the objects of tin's re servo, to gradually strengthen and en largo that reserve, and to provide for such other exceptional demands for coin as may arise, does not seem to n,e a work of difficulty. If wisely planned and disoretly pursued, it ought not to cost any sacrifice to the business of the country. It should tend, on the contrary, to a revival of hope and confidence. The coin iu the treasury on the 30th of June, lnclud.--ing what is held against coin certifi cates, amounted to nearly 94 millions. The current of precious metals which has flowed out of our country for the eleven years from July 1, 18G5, to June 30, 1870, averaged nearly 76 mil lions a year, was 832 millions in tho whole period of which 617 millions were the product of our own mines. . To amass the requisite quantity, by intercepting from the current flow ing out of the country, aud by acquir ing fram thestocks which exist abroad without. disturbing the equilibrium of foreign money markets; is a result to bo. easily worked out by practical knowledge and judgment. With respect to whatever surplus of legal tenders tho wants of business i. ay fail to keep in nse, and which, in order to save interest, will'be returned for redemption, they cau either bo paid or they can be funded. Whether they continue as currency, or be absorb ed into the vast mass of securities held as investments is merely a question of the rate of interest they draw. Even if they were to remain in their present form, and the government were to agree to pay on thorn a rate of interest, making them desirable as investments, they would cease to circulate and take thoir place with government, State.mn nicipal, and other corporate and pri vate bonds, of whiah thousands of millions exist amongst us. In the per fect ease with which they can be changed froth currency into invest ments lies the only danger to be guai d ed against in the adoption of general assembly measures intended to remove a clearly ascertained surplus; that is, the withdrawal of any which are not a permanent excess beyond the wants of business. Eyen more mischievous would be any measure which affects the public imagination with the fear of an apprehended scarcity. In a community where credit is so much used, fluctuations of values aud vicis situdes in business are largely caused by the temporary beliefs of men even before those beliefs can conform to ascertained realities. AMOUNT OF NECES8ARY CURRENCY. The amount of necessary currency, at a given time, canuot be determined arbitrarily, and should not be assumed on conjecture. That ainouut is sub ject to both permanent and temporary changes. An enlargement of it, which seemed to be durable, happened at the beginning . of the civil war by a substituted use of currency in place of individual credits. It varies with certain states of business. It fluctu ates, with considerable regularity, at different seasons of theyeai. In the autumn, for instance, when buyers of grain and other agricultural produces begin their operations, they usually need to borrow capital or circulating credits by which to make their pur-, chases; and want these funds in cur rency oapablo of being distributed in small sums among numerous sellers. The additional need of currency at such times is fivo per cent, of the whole volnme, and. if a surplus be yond what is required for ordinary use does not happen to have been on hand at the money centers, a scarcity of currency ensues, and also a stringency in the Iohu market. It was in refeience to such expes riencos that, in a discussion of this snbject, in my annual message to the New York Legislature of January 5, 1875, the suggestion was made that: The federal government is bound to redeem every portion of its issues which the public do not wish to use. Having assumedlto monopolize the supply of currency, and enacted ex clusion against everybody else, it is bound to fnrnish all which the wants of business require. The system should passively allow the volume of circulating credits to ebb and flow, according to the ever changing wants of business. It should imitate, as closely as possible, the natural laws of trade, which it has superseded by artificial contrivances. Aud in a sitnilar discussion, in my message of January 4, 1876, it was said that resumption should be effected by such measures as would keep the aggregate amount of the currency self-adjusting during all the process, without '. creating, at any time, an artificial scarcity, and without exciting the public imagination with alarms which impair confidence, contract the whole machinery of credit, and disturb the natural operations of business. MEANS OI" RESUMPTION. Publie economies, official retrench" tnents and wise finance are the means which the St. Louis Convention indi cates as provision for reserves and re demptions. The best resource is a reduction of the expenses of the government below its income; for that imposes no new charge on the people. If, however, the improvidence and waste which have conducted us to a period of falling revenues oblige us to supplement the results of economies and retrenchments by some resort to loans, we should not hesitate. The 'ulietn leives. A?;inhi these -h. mi! jj ivernmeat ought not to speculate on its own dishonor, iu order to save n interest oa.its broken promises, which it stifl compels private, dealers to ac feept at a -fictitious par.1 The highest national honor is not only, right, but would prove profitable. Of tne pub bo debt, 985 millions bear interest at six per ceut. in - o d. Tho 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 redjuo tioo of one per cent, iu tho interest on most of the loans A saving of one per cen on th-.s average wonld be 17 millions a 3'ear in gold. That saving regularly inverted at four aud a half p r cent, would, in less than thirty eight years, extinguish the principal. The whole 1,700 millions of funded debt might be paid by this saving alone, without cost to the people, rnopfti: time for kkkumftion. The. proper time for lO-umptiou is the time when wise preparations shab have ripened into a perfect ability to accomplish the object with a certainty and ease that will inspire confidence, aud encourage the reviving of busi ness. The earliest timo in which such a result can be brought about is the best. Even when the preparations have been matured, tho exact date would have to be chosen with refer ence to the then existing state of trade aud ciedit operations in our own country, tho course of foreigu com merce, and the coudition of the ex changes with other nations. The spe cific measures and the actual date are matters of detail haviug reference to ever-changing conditions. They belong to the domain of practical ad ministrative statesmanship. The cap tain of a steamer, about staitirg from New York to Liverpool, does, not as semble a council over his oceau chart and fix au angle by which to lash the rudder for the whole voyage. A hu man intelligence must be at tho helm discern the shifting foices of the waters aud tho winds. A hum ui hand must be on the helm to f&ol the ele ments day by day, aud guide to a mastery over them. PREPARATIONS FOR RESUMPTION. Such preparations are very thing. Without them, a legislative command fixing a day, an olliiual promise fixing a day, are shams. They aro worse th jy are a suare aud a delusion t all who trust them. They destroy all confidence among thoughtful men whose jtidgni -ut will atlast sway pub lie opinion. An attempt to act on such a command or such a promise, without preparation, would end in a now suspension. It would bo a frosh calamity, prol-fic of confusion, distrust and distress. THE ACT OF JANUARY 14in, 1875. The Act of Congress on the 14tli of January, 1875, enacted that, on and after the 1st of Jauuary, 1879, the Secretary of the Treasury sh all redeem iu coin the legal tender notes of the United States on presentation at the office of the assistant treasurer 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 revenues not otherwise, appropriated; and by issuing, in his discretion, certain classes of bonds. More than one and a half of the four years have passed. Congress and the President have contined ever since to uuite iu acts which have legislated out of existence every possible surplus ap plicable to this purpose. The coiu in the treasury claimed to belong to the government had, on tho 30 of Juue, fallen to less Uiru 45 mil" lious of dollars as against 59 millions ou the 1st of January, 1875, and the availability of a part of that sum is said to be questionable. Tho revenues are falling faster than appropriations and expenditures aro reduce-d, leaving tho treasury with undiminishiug re sources. The secretary has done noth ing under his power to issue bonds. The legislative demand, the official promise fixing the day for resumption have thus far been barren. No practical preparations towards resnmpiion have been made. Thote has been no pro gress. There have been steps back ward. There is no necromancy in the opera tions of government. The home maxims of every-day life are the best standards of its conduct. A debtor- who should promise to pay a loan out of surplus income, yet be seen every day spend ing all ho could lay his hands on in riotous living, would lose all character for honesty, veracity. His offer of a new promise or his profession as to tho value of the oil promise, would alike provoke derision. RE8UPMTION TliAN OF THE ST. IiOTJIS PfjATFORM. The St. Louis platform denounces the failure for eleven years to make good .the promise of the legal tender notes. It denounces the omission to accumulate "any reserve for their re demption " It denounces the conduct "which, during eleven years of peace, has made no advances towards re sumption, no preparations for resump tion, but instead has obstructed re sumption, by wasting our resources and exhausting all our surplus income, and while professing to intend a speedy return to specie payments, has annually enacted frosh hindrances thereto." And having first denounced the barrenness of the promise of a day of resumption, it next denounces that barren promise as a "hindrance" to resumption. It then demands its re peal, and also demands the establish ment of "a judicious system of prept aration" for resumption. It cannot be doubted that tho substitution of a "system of preparation," without the promise of a day, for tho worthless promise of a day without "a system of preparation" would bo the gain of tho substance of resumption in exchango for its shadow. Nor is the denunciation unmerited of that improvidence which, in the eleven years since the peace, has con sumed 4,500 millions dollars, and yet could not afford to give .the people a sound and staple currency. Two and a half per cent, on the expenditures of these eleven years, or even les, would have provided all the additional coin needful to resumption. RELIEF TO BUSINESS DISTRESS The distress now felt by the people in all their business and industries, though it has its principal cause in the enormous waste of capital occasioned by th false policies of our government has been greatly aggravated by the mismanagement of the currency. Un certainty is the prolific parent of mis chiefs 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 undertake noth ing, because they feara loss in every thing they would attempt. They stop and wait. The merchant dares rot buy for the future consumption of his customers. The manufacturer dares hot make fabrics which may not ref and his outlay, lie shuts his factory and discharges his workmen. Capitalists cannot lend on security 'they consider safe, and their funds Ho almost with out interest. Men of enterprise who have credit or securities to pledge, will not borrow. Consumption has fallen below the natural limits ol a reasona ble economy. Prices of many things are under their range in frugal, specie paying times before the civil war. Vat masses of currency lie in the banks unused. A year and a half ago tho legal tenders were at their largest volnme, and the twelve millions Bince retired have been replaced by fresh issues of fifteen millions of bank notes. In the meantime the banks have been iiurrfrnderiptrV about- four millions u 'month, because- they canuo- hud a? profitable use for so many of their notes.' k-: i . . . The public mind Will no longer ac cept shams. It has Buffered enough from illusions. An insincere policy increases distrust. Au unstable policy increases uncertainty. The poople need to know that the government iB mov ing in the direction of ultimate safety and prosperity, and that it is doing so tl rough prudent, ssfe and conserva tive methods, which, will to sure to inflict no new sacrifice on the business of the country. Then the inspiration of new hope and well founded -confidence will h-sten the restor ng pro cessed of nature, and prosperity w ll begiu to return. Tho St. Louis Convention concludes its expression in regard to the 'cur rency by a declaration of its convic tions as to the prac'ieal results of ti e svstem of oreoarat ions il demands. It Hays:' "We believe such a system, well devised, and, above all, intrusted lo competent hands for execution, creat-. ing at no time an artificial scarcity of currency, and at no time alarming the public mind inbva'withdrawal of that vaster machinery of credit Ify which ninety-live per cent.- of all business transactions are performed a -system opeu, public, And inspiring general confidence would, from the day of its adoption, bring heating on its wings to all our harassed industries, set in .motion the wheels of commerce, manu f ictnr S and tho mechanic arts, rosto;a employment to Lbor, and re iew in all its natural sources the prosperity of the people." Tho government of the United States, iu my opinion, can advance to a resumpt ion of specie paymeuts on its legal tender notes by gradual and safe processes tending to relieve the pres ent 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 bo invested by Congress" as best and soonest to conduct the country tq that beneficent result. CIVIL SERVICE REFORM. The convention justly affirms that Reform is necessary in the civil ser vice, necessary to its purification, necessary to its ecouomy and its effici ency, necessary in order that the ordi nary employment of the public busi ness may not be "a prize fought for at the ballot box, a brief reward of party zeal instead of posts of honor assigned for proved competency, aud held for fidelity in the public employ." Tho convention wisely added that "Reform is necessary even more in tho higher grades of the public service. Presi dent, Vice-President, Judges, Sena tors, Representatives, Cabiuet Officers, these and all others in authority are the people's servants. Their offices are not a private perrjuisite; they are a public trust." Two evils infest the official service of the Federal government. Oneis the prevalent and demoraliz ing notion that the public service ex ists not for the business and benefit of the whole people, but for the interest of the office-holders, who are in truth but the servants of the people . Under the influence of this pernicious error public employments have been multi" plied; the numbers of those gathered into the ranks of the offioe-Lolders have been steadily increased beyond any possible requirement of the public business.while inefficiency, peculation, fraud, and malversation of the public fuuds, from tho highest places of pow er to the lowest, have overspread tho whole service like a leptosy. The other evil is the organization of the official class into a body of political mercenaries, governing the caucuses and dictating the nominations of their own party, aud attempting to carry the elections of the people by undue influence, and by immense corruption funds systematically collected from tho salaries or fees of office holders. Tho official class in other countries, sometimes by its own weight and sometimes in alliance with the army, has been able to rule the un organized masses even under universal suffrage. Here it has already grown into a gigantic power capable of stifling the inspirations of a sound pub lic opinion, and of resisting an easy change of administration, until mis government becomes intolerable, and public spirit has been stung to the pitch of a civic revolution. The first step iu reform is the eleva tion of tho standard by which the ap pointing power selects agents to exe cute official trusts. Next in import ance is a conscientious fidelily in the exercise of the uutrust worthy or inca pable subordinates. The public in terest in an houest, skillful perform raanco of official trust must not bo sacrificed to the usufruct of the in cumbents. After these immediate steps, which will ensure tho exhibition of better example's, we may wisely go on to tho abolition of unnecessary offices, and, finally, to the patient, careful organi zation of a better civil service system, under tho tests, wherever practicable, of proved competeucy and fidelity. While much ' may be accomplished by theso methods, it might encourage delusive expectations if I withheld here the expression of my conviction that no reform of tho civil service in this country will be complete aud per manent until its chief magistrate is constitutionally disqualified for re election; experience having repeatedly exposed the futility of self-imposed restrictions by candidates oi incum bents. Through this solemnity only can bo etiectuauy delivered from his greatest temptation to misuse power and patronage with which the the ! Executive is necessarily charged. CONCLUSION . Educated in the belief that it i.3 the 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. ThoHgh occupied in an unusual degree during all that po riod with the concerns of government.. I have" never acquired the habit of official life. When, a year and a half ago, I entered upon my present trust, it was in order to consummate reforms to which I had already devoted several of the best years of- my lifo. Knowing as I do, therefore, from fresh expe rience, how great the difference is be- tween gliding through au official routine and working out a reform of systems and policies, it is impossible for me to contemplate what needs to bo done in the federal 'administration without au anxions sense of the difficul-' ties of the undertaking. If summoned by the snffrages of my countrymen to attempt this work, I Bhall endeavor, with God's help, to be the efficient in strument of their will. Samuel J. Tilden. To Gen. John A. McClernard, Chair man, Gen. W. B. Franklin, Hon. J. J. Abbott, Hon. H. J. Spannhorat, Hon. H. J. Redfield, Hon. 4?. S. Lyon and others, Committee, fcc ; COY. HENDRICKS' LETTER OF AC " CEPTAKCE. . Indianapolis, July 24,' 1876. Gentlemen: I have the, honor to acknowledge the receipt of your com munication, in which you have formally notified me of my nomination by the National Democratic , Convention at St. Louis, as their candidate for the office of Vice President of the United States, ft is a nomination which I had neither expected nor desired; and yet I recognize 'and appreciate the high honor done me by the Conven tion. V Thechoico of such a body, pro nounced with such unusual unanimity, and i accompanied with so generous an expression ' of esteem and confidence ought to outweigh all merely persoual desires and preferences of my own. It is with this feeling, and I trust also from a deep sense of public duty, that r now accept the nomination, and shall abide the judgment ofmy country men. . . ' It would have been impossible for me to accept the nomination if I could not heartily endorse the platform of the Convention. I am gratified, there fore, to be able unequivocally to de clare that I agree in the principles, approve the policies, and sympathize with the purposes enunciated in the platform. The institutional jf our country have been sorely tried by the exigencies of civil war, and, since the peace, by a selfish and corrupt . management of nnhlin affairs, which has shamed us before civilized mankind. By unwise and partial legislation every industry and interest of the people have been made to suffer; and in the executive departments of the government, dis honest, rapacity and venality have debauched the public service. Men known to be if n worthy have been pro moted, while others have been de graded for fidelity to official duty. Publie office has been made the roeaus of private profit, and the country has been offended to Ree a class of men who b'wist the friendship ofitho sworn protectors of the State amassing for tunes by defrauding the -public' treas ury, and by corrupting the servants of tho people. In sucIV a erinis of the history ot theeonntry I rejoice that the convention at St.. Louis has so nobly raised the standard of re form. Nothing can bo woil will us or with our affairs until the public conscience, shocked by the enor mous evils aud abuses which prevail, shall have demanded and compelled an unsparing reformation of - our Na tional Administration, "in its head and in its members." In such a re formation the removal of a single officer, even the President, is compara tively a trifling matter, if the system which he represents, and which has fostered him as he has fostered it, is suffered to remain. ' The President alone must not be made the scapegoat for the enormities of the system which infests tho public service, and threat ens the destiuction of our institutions. In some respects I hold that the present executive has-been the victim rather than the author of that vicious system. Congressional and party lead ers have been stronger than the Presi dent. No one man could have created it, and the removal of no one man can amend it. It is thoroucdv corrnnt. ( j and must be swopt remorselessly away ty tue selection oi a government com posed of elements entirely new, and pledged to radical reform. reforms needed. -The first work of reform must evi dently be the restoration oi' the normal operation " of the Constitution of tho United States, with all its amendments The necessities of war cannot be pleaded in a time of. peace; the right of looal self-government as guaranteed by the Constitution of tho Union must be everywhere restored, and the cen tralized (almost rerpo ml) -imperialism which hafi been practised must be done away, or the first principles of the republic will be lost. Our financial system of expedients must be reformed . Gold and silver are tho real standard of values, and our national currency will not be a pt r'ect medium of exchange until it shall be convertible at tho pleasure of the holders. As I have heretofore Faid.no one desires a return to specie pay ments more earnestly than I do; but I do not believe that it will or can be reached iu harmony with the interests of the people by artificial measures for the contraction of the currency, any more than 1 believe that wealth or per manent prosperity can bo created by an inflation of the currency. - The laws of finance cannot be disregarded with impunity. The financial policy of the Government, if, indeed, it do - serves the name of policy at all, has been in disregard of those laws, and therefore has distnrbed commercial anci business connuence, as wen as hindered a return to specie payments. One feature of that policy was the re sumption clause of the Act of 1875, which has embarrassed the country by the anticipation of a compulsory re sumption for wl ich no preparation has been made, and without any assnrauco that it would be practicable. The re peal of that clalfae is necessary that the natural operation of financial laws may be restored, thac the business of the country may be relieved from its disturbing and depressing influence, and that a return to specie payments may bo facilitated by tho substitution of wiser and more prudent legislation, which shall mainly rely on a judicious system of public economies and official retrenchments, and above all on the promotion of prosperity in all the in dustries of the people. I do not understand the repeal of the resumption clause of the Act of 18 ?5 to be a backward step in our re turn to specie payments, but the re covery of a false step; and although the repeal may, for a time, be preven ted, yet tho determination of the Democratic party on this subject has now been distinctly declared. There should bo no hinderances put in the way of a return to specie payments "As such a hinderance," says the plat r r 1 1 j t . . - . . lortn oi meot ljouis vjonventiou, "we denounce tho resumption clause of tho Act of 1875, and demand its repeal." 1 thoroughly believe that by public economy, by official retrenchment!:, and by wise finance enabling ns to ac cumulate the precious metals, resump tion at an early period is possible, without producing an "artificial scarcity of currency" or disturbing public or commercial credit; and that these reforms- together with the restor ation of pure government, will restoro general confidence, enconrage tho use ful investment of capital, furnish em ployment to loljor, and. relievo tho country from the "paralysis of hard OUR INDUSTRIES. With the industries of the people thero have been frequeut interferences. Our platform truly says that many in dustries have ' been impoverished to subsidize a few. Our commerce has been degraded to an inferior position qn the high seas; manufactures have been diminished; agriculture has been embarrassed, and the distress of the industrial classes demands that' these things shall be reformed. The burdens of the' people must also be lightened by a great change in our system of public expenses. The profli gate expenditures which increased taxation from five dollars per capita in 1860 to eighteen dollars in 1870 tolls its own story of our " need of fiscal reform: ' ' Our 'treaties with foreign powers should also be revised and amended, in so far as tbey leave citizens of for eign birth in any particular less secure in any country on earth than they would be if they had been born on our own soil; and the . iniquitous coolie system which, through the agency of weaitny companies, imports uninese bondsmen, and establishes a species of slavery, and interferes with the just revards of labor on our Pacific coast, should be utterly abolished. , In the reform of our cirfl service. I most heartily endorse that section of the platform which declares that the civil service ought not to be "subject to change at every election," and that it ought not to be made "the brief re ward of party zeal," but ought to ha awarded for proved competency an,? held f ir fidelity ih the public emJw" I hope never again to seo the cruel ad remorseless proscription for polit C d opinions which has disgriced tha itdministra ion of tho last eight years B id as the civil service now ia - know, it. has some men of tried intei-ri ty and proved ability. Such men in such men only, should be retailed in in ouice; out no man snouiu be rto,". j on any consideration who has rraK i-i..Vt,;n t.. i prosti- tisan intimidation or compulsion " who has furnished money to corrupj the elections. This is done and ha been done in almost every country f the land. It; is a blight npon tt morals of tho oouutry, and ought to b reformed. 8 OUR SCHOOLS. Of sectional contentions, aud m re spect to our common schools, Iljuy only this to Pay: That in my in4j ment, the man or party that Wuul(J m volve our schools in political or rucU rian controversy is an enemy to th schools. The common schools m safer uuder tho protecting ca,e of M tho people than under the control of any party or sect. They miwt neither sectarian nor pa-t,inHn, aud thero must bo neither division nor misappropriation of the fuuds for their support. Likewise I regard the man who would arouse or footer sec tional animosities and antagonisms among his countrymen as a dangerous enemy to his country. All the people must be made to feel and know that once more t here is established a pur. pose and policy under which all citi zens of every condition, race and color will be secure iu .the enjoyment of whatever rights the Constitution and laws declare or recognize; and that in controversies that may arise the gov ernment is not a partisan, but, within its constitutional authority the just and powerful guardian of the rights and safety of all. 'The strife between tho sections and between races will cease as soon ns the power for evil is taken away from a party that makes political gain out of scenes of violeuce and bloodshed, and tho constitutional authority is placed in" tho hauds of men . whose political welfare requires that peace and good order shall be preserved everywhere. GOV TILDEN. " It will be seen, gentlemen, that I am in entire accord with the platform of the Convention by which I. have been nominated as a candidate for the office of Vice President of the United States, Permit me, in conclusion, to express my satisfaction at being associ ated with a candidate for the Presi dency who is first among his equals as a representative of tho spirit and of the achievements ,of reform. In his official career as the Executive of the great State of New York, ho has, in a comparatively short period, reformed the public service and reduced the pub lic burdens, so as to have earned at once tho gratitude of his State and the admiration of the country. The peo ple kaow him to bo thoroughly in earnest; he has shown himself to be possessed of powi-rs and qualities which fit him, iu an eminent degree, for the great work of reform which this 'country now needs; and if he shall be chosen by tho people to the high office of President of the United States, I believe that the day of his in auguration will b'e tho beginning of a new era of peace, parity and prosper ity in all departments of our govern ment. I am, gentlemen, your obedient servant, THOMAS A. HENDRICKS. To tho'ITon. John A. McClernand, Chairman, and others of the Com mittee of the National Democratic Convention. Four Hundred Rolls, Three Hundred Hall Rolls Standard Full Weight. TIES. Two Thousand Bundles New and Pieced, TWINE. One Thousand Pounds, FOR SALE BY KERCHNER & C ALDER BROS. ang UVd&wtf '- HALL & PEAItsALt, CoinissM Halts AND irs m loi tt Meats, Flour, Coffee, Sugar, Molasses, Fish, Salt, &c. Wilmiiiertoii, N. J line ! Cmw ' . - Scyicll & Cos Met Haimoct, Weight Only I Lb-Boars l300Lbs PHI UK OF NO. 1 1 0 A most lnxurions Coach, Seat, Swing, & Circular? may he had by addrewing VanWART & feC0Y. April fi w3m 134 and 130 Duane St., School oi Lai-nil Ml WASHIXOTON AND LEE INIVEKSlTf, Lexington, Virginia- fSIUSSTOr OTP cucili TY : CIIAULKS A. OKAVKS, M.A.,B. f'-.j'r: . i I u w mill K0U1O 1 4lll 1111' II .111" OI.UHI J " J prudence. ' T n Prof- WM. PHKSTVH JOHNSTON, lb. D., wm- , L n vl 1.Q W Oi n:s.ory nu ocirm V .7 t- vmt Mdr cintilelAW. Conflict ofLawF, and Consn Court of Appeals of Va,) Lecturer on o mon Currier nd fnnuranoe. . of tb JIOS..WAITKK.B. STAPLED; iJW8j Ji Court of Appeals of Va,) Lecturer on or IION.WIL JAM MCLAUGHLIN. (JJ fvr.,,it riniirtof Va..) Lecturer on r Pleading in Courts of jw and Judge of HON. HUGH W. NHKFFE,jI-topaDd oircuit Court of Va.,) Le turer on W Probate Practice. . " LeC.urer on BOLiVAR CKKISTIAN. . Parliamentary Law ancU'in "fl lecti xe; The instruction is bv xbM,l!pirliftiult-toethe?wiU.Mool-j!'ourt a'lm. Tl.e next 8ion begins S vtmhe r i entire course may be complete Iu one J Kor full Information by catalogue or adlres WALTER BOWIE Clerk of Faculty. aug 8 dltwlt clerK w