"I cannot see how an acceptance-letter could have been framed better adapted to the imperative needs of the situation. Repeal of the law of 1875 was on the platform, and you had to deal with it. 'Contraction' is a red rag to our friends in the West and South, and that must be accepted. And along the Atlantic coast are they who fancy their pecuniary salvation depends on _instantly_ lifting the greenback to an equality with gold, and these could not be lost sight of. And, finally, you had to keep in mind a _policy_ which you could 'work' when you enter the White House next March. "There was possibly a little peril in departing from the traditional acceptance-letter of fine phrases and loyalty to the platform; but you did wisely to incur that peril, for I do think your letter has practically eliminated the financial issue from the canvass--has prevented an alarming sectional conflict and bad blood between debtors and creditors--and will in the end convince all reasonable people you purpose to 'resume' as rapidly as human power can. And besides this (which may seem a contradiction), I believe you have given a hint to those who are in pecuniary distress and sorrow, and would like inflated business to lift them, as they think, out of their misery, that they had better join hands with the Democracy. "My idea of the canvass is that the independent voters will soon come to think there is little difference in the purposes of you and Governor Hayes, and the only question is which of you is likely to be most able to carry them out. That, of course, leads to an inquiry into the personal qualities of the two candidates and the temper of the party behind each. On both of those inquiries you _ought_ to win, and you will (excepting in a contingency to which I will presently refer) win. If the independent voters appreciated your mental and moral fibre as I do, they would not doubt as to the first; and as to the second, our party is new in power, ambitious to establish a dynasty, and is extremely amenable to reason and fair-dealing. "I was a little sorry you said anything of a second term. You cannot accomplish much if it is known you won't have a second, and a good way to treat Hayes would be to suggest that he resign at the end of two years (if elected), or never be inaugurated.