The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-03-15

has done this and the laboring man finds
out this by experience, ] would like to see
Mr.. Dudley try to explain to tho laborors
that the free silver law was right, because
in 1878 when the Texas constitution fixed
the salaries of district Judges, dollar
was worth only half as much as 1t was ~
lsg6 and therefore the district judge was
in 1896 getting too high salary, and the
only way to reduce IT was to pass a law
tina, reduced the pay of these wage-earners
one-half
From the March number OF tho North
American Review, | ind the total depos-
it's In the savings banks In 1894 IN the
United States was SLIT ,a33. 2i2 and this
was the savings of i,S20, 500 working people
Every dollar Of these deposits now repre-
sents dollar Of present purchasing power.
Pass Mr.. Dudley's law and. according to
his own truthful statement, these deposits
shrink one-half and become in purchasing
mower equal to only sSSS. 966, 62l OF present
money and thus an equal amount, or $685.
a66 62l of money OF present value repre-
senting half the life savings, the hard
earnings OF the Industrious laborer and the
little boards Of the widow the orphans ana
the aged and the poor. 1t is all right.
though Mr. Dudley will explain to them,
1t was necessary to reduce the salary OF
the district Judge. Let MIR. Dudley eX-
plain it to them. that the goldbug who OPP
poses this robbery is the poor mans bitter
ercmy, but that the sliycrite who perpc
trates il is his sworn champion, HIS sole
defender.
! said In my article Of March 1 that
would show that free coinage at l6 to was
reputation OF 10 per cent OF all existing
debts | had no idea that Mr.. Dudley world
confess II. He says s2t00 now Is equal TO
5000 IN 1876. Hts argument ls that free
coinage would make $3.50 only worth half.
f,,a ff xSb ot TO
II were true that dollar now was worth
as much as two dollars In 1876. what has
that to do with IA contract made in 1892,
1893. 1884 or 1895 or 1896 In 1892 cotton was
lower than 1t is now. | suppose the dollar
was then as valuable as II is now. and
nine-tonths of all private debts. now ex-
listing, have boon contracted since 1892. and
large part of the public debt. All based
upon the dollar as II existed Mt the date OF
the contract. | think every acre OF scnool
land that was sold. was sold long since
1876. and at prices low when measured by
the dollar as II then Was and now Is. Ana
the unpaid balance OF these sales, AS well
as the proceeds of sales now invested as
sacred school fund, must be reduced one
half for the benefit of the pure hasers Of
these lands or the borrowers of the money
collected Openly avowedly. consciously,
Knowing It's effects, II seems Mr.. Dudley
advocates this reputation. For such a
the executive committee a. Texas dtinoc-
racy, is TO out the party ia an open shame.
And this is the man who boasts OF his
democracy. his worship OF Jeferson--Jef-
ferson who said that he hoped America
would know that for q Nation honesty is
| the first chapter IN the book q wisdom"
For the purposes Of mis- argnmen, about
| The salary of the district judge. which was
liked in i16. Mr.. Dudley seems strangely
| ohlivlous Of the great crime OF 1873 by
which silver had been murdered. me
money Of the world had beer reduced one-
| hslf three years before 1876. according to
| his school. The fact seems TO be tina. no
particular period in the past Is fixed as TO
| Inc point Of time at which the doubling
| ,ook Mace I'm the value OF money Nor did
| This doubling take place in the lapse OF
any certain number of yeare; but always
/ "a III the case we have convenient as
| sertion IL a salary was fixed in 1873 or
| ,s7s The value OF the dollar has doubled
s,nra then. IL n bond wts issued or sold
| ,n ,sso the value of the dollar has doubled
s,nce then. II 1t was Issued or sold Ia lsSi.
,be value OF the dollar has doubled since
| ,hen or IL a contract was made OF note
slven M 1890 or 1894, the value OF a dollar
bas doubled since then IN any ana All
cases, II is right now 10 pay the debt In