Evening journal., 1897-12-30
GOMPERS IN REPLY.
Claims Gage Not Denounced
by Labor Federation.
REVIEWS EFFECT OF GOLD STANDARD
Then Calls Upon the Secretary to Show
That It's Perpetuation VIII Not ''NIake
Money Dearer and Human
Flesh Cheaper

Flesh Cheaper"
WASHINGTON, Dec. 80. - Samuel
Gompers. president of the American
Federation OF Labor, has replied in an
open letter TO Secretary Cages recent
letter taking exceptions to the resolu-
tions passed by the federation in ref
erence to Cages financial bill.
Mr.. Gompers says in part: You take
exception both TO the position which
our organization has taken upon your
bill as well as the language employed.
Even if you are justified in the one you
certainly misapprehend the other.
submit that you viii seek in vain for
a single denunciatory word either in
regard to your motives. your plan or
your bill. We realize that denuncia-
ton is not argument, but to declare our
position ana the statement OF fact in
regard to a most important and tar
reaching measure, affecting and chang
Ing the financial system of our country,
can by no means be construed as de-
nunciation.
Those resolutions declare against
your plan for more thoroughly commit
ting our country to the gold standard,
a plan for destroying our greenback
a plan, in fact, for weakening the con-
troll of the national government over
that most important of all measures,
the measure Of values. and strengthen
ing the banks and a plan aiming at
what you call currency reform and
which we call bank monopoly That
you should take offense at these reasons
regret, for the right to express disap-
proval OF the acts of their servants Is
one OF the rights held sacred by the
American people and one you win freely
accord.
"The wage earners Of America repre-
sented in the Federation OF Labor be-
lieve that the position you have taken
In regard to the retirement of our green
back currency is antagonistic to their
interests, and they are opposed to your
plan for more thoroughly committing
this country OF ours TO the gold stand
ard. You deny that the pernetuation Of
the gold standard. at which you aim,
would have any disastrous effects; you
ask what evils have resulted from our
adherence to the gold standard. / an
swer that the evils are those that have
grown and ever must grow from dis
honest measure of values, measure Of
values that interferes with the Just dis
|
men of a part of their earnings that Is
rightly theirs and confers Il upon others
who have earned It not. Any measure
of values that thus forces an unjust dis
tribution Of the products of labor, that
deprives producers of the fruits of their
! toll, cuts down wages and profits, there
by destroying the incentive to enter
prise leads to industrial stagnation, en-
forced idleness, distress and public suf-
fering.
Changes in the value Of money have
largely Influenced the movements of
prices dunng the last half century and
were great factors I'm the price move
ments during one long period During
the quarter Of a century following the
gold discoveries in California there
was much progress in the line of inven-
ton, much introduction of labor saving
machinery, much cheapening I'm the la
Dor cost of production. This on your
theory should have caused steadily
falling prices. But what has hap
pened? The outpourings of gold cheap
ened gold to a greater degree than COM
modities were cheapened. and the result
was that prices were in general 30 per
cent higher at the end OF this period
than at the beginning.
"Then what happened? We, along
with many other nations, closed ouI
mints to silver We increased the de-
mand for gold, with the result that gold
went up in value and prices OF com.
modites down. You must abandon the
advocacy Of gold monometallism unless
you can show that the decentralization
of silver and the doubling of the de-
mand for gold resultant therefrOm has
not caused gold TO grow dearer anc
prices lower, to the great injury Of al
producers Of wealth. You should al
least show that the perpetuation Of tn,
gold standard will not result in max
ing money dearer and human nesl
cheaper.
In the statement you recently made
before the house committee on banldnl
and currency I'm support Of your bill
you say and repeat this truesm. tha
the less the government owes the les
/, IL viii have to pay Yet your plan in
wolves the proposition of the retire
ment of our national paper currenc.
and greenbacks, upon which we pay m
interest at all, and the issuance o
bonds in their stead in the sum of 5000,
100000, which we shall owe, and upol
! ! which we shall be required to pay in
| terest. The Inconsistency Of your state
ment and your plan seems glaring
1--WE oppose your currency bill be
| cause, as has been well said, it is
bill 20 provide for the abdication Of tn
D sovereign powers Of government 20 tn
: banks. for strengthening the hands o
the speculative cliques enriching tn