We can not waste time upon the dreary drivel on the inflation side of this campaign. Men who have not learned the elementary principles of the science of political economy, who have not mastered the definitions, as we say, in geometry, could say nothing intelligible to the finite understanding. The speeches were as "incoherent" as the New York World proved the platform to be. They all contained doctrines, however, in perpendicular antagonism to the financial doctrines of the St. Louis convention. When the inflationists learn what money is—what its office, its function is—they may be able to resume the discussion of finance with their opponents in the Democratic party.
After a campaign which called forth almost daily leaders from the press of New York and London, and aroused the interest of Europe, General Hayes was a third time elected governor of Ohio by a majority of 5,544.
The character of the contest lifted him from a State leader to a national, an international man, and made the presidency a possibility. We now leave the reader to engage in the profitable pleasure of reading the only Ohio governor's third inaugural:
Fellow-citizens of the General Assembly:
Questions of National concern, in the existing condition of public affairs, may well be left to those officers to whom the people, in conformity with the constitution of the United States, have confided the important duties and responsibilities of the various departments of the general government.
During the term for which you have been elected, the constitution of the State devolves on you the task of dealing with many subjects very interesting to the people of Ohio. The duty of communicating to you the condition of the State, and of recommending measures deemed expedient, was performed at the opening of your present session by the distinguished citizen who has preceded me in the executive office. In complying with the usage which requires me to appear before you on this occasion, I am, therefore, relieved from the necessity of entering upon any extensive examination of the subjects which will claim your attention. There are, however, a few topics on which brief suggestions may, perhaps, be profitably submitted.
The attention of the legislature has often been earnestly invoked to the rapid increase of municipal and other local expenditures, and the consequent augmentation of local taxation and local indebtedness. This increase is found mainly in the cities and large towns. It is certainly a great evil. How to govern cities well, consistently with the principles and methods of popular government, is one of the most important and difficult problems of our time. Profligate expenditure is the fruitful cause of municipal misgovernment. If a means can be found which will keep municipal expenses from largely exceeding the public necessities, its adoption will go far toward securing honesty and efficiency in city affairs. In cities large debts and bad government go together. Cities which have the lightest taxes and smallest debts are apt, also, to have the purest and most satisfactory governments.
The following statement, showing the increase of municipal taxation and indebtedness in the cities and large towns of Ohio, ought to arrest attention:
In 1871, in thirty-one of the principal cities and towns of the State, the average rate of taxation was twenty-three and one-tenth mills on the dollar. The total amount of taxes levied for all purposes was $8,988,064. The total indebtedness was $7,187,082.
In 1875, in the same cities and towns, the average rate of taxation was twenty-eight and three-tenths mills on the dollar. The total amount of taxes levied for all purposes was $12,361,934. The total indebtedness was $20,800,491.