Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-22
Mr.. CAGES POSITION
Discusses Federation of Labor Cur
rency Resolutions.
he REPLIES TO HOSTILE CRITICISM
Defends Maintenance of the Gold
STANDARD.
CALM ARGUMENT INVITED

Secretary Gage today addressed to Samuel
Gompers, president of the Federation or
Labor, the following important letter OH
the subject of the currency:
Dear Sir: have read with care the reso-
lutions adopted the 10Th instant at Nash
Vile by the convention of the Federation Of
Labor. which recite as follows:
Resolved. That we declare ourselves
most positively opposed to the Gage finan-
cial bill recently introduced I'm Congress by
the Secretary of the Treasury. 1t is q
measure that, IL adopted as a law. will only
the more firmly rivet the gold standard on
:he people of the country and perpetuate
Its disastrous effects in every form.
Resolved, That We pronounce the
Gage bill an unG;sguised effort to retire our
greenback currency and all government
paper money, with view to the substitu-
tion of national bank notes in their stead.
and thus fasten the national bank system
for years upon the American people
Now, il it be true that the gold stand
ard by which things have been measured
as to price for the last sixty years in this
country is inimical to the interests of the
laboring classes of the United States. then
1 think it is inimical to all classes. In
other words. do not believe that the ex-
pioitation of one class by another. either
through false weights. partial laws, or a
bad monetary system, can be made to work
for the permanent benefit of the exploit
ing class itself or for the general veal.
even were it Gefensibe On any ground of
right or Justice, which it is not. Granted,
therefore, that the permanence Of the gold
standard dcr which 1 argue) operates in
this evil diI iIection, then your resolutions
Of condemnation are well founded, and j
am justly charged either with an ignor-
ance which constitutes me a foolish ad-
wiser or with perversity of motive which
makes me an evil adviser.
Il have a right to disavow the charge of
perversity or evil purpose. since there is
nothing in my whole life as related TO my
fellow men. either in word or deed. from
which the possession by me of such char
eCteristics can be inferred, much less DEM
C1.strated.
But ignorance often unconsciously works
as deep injury evil intent might do,
and 10 this sin of ignorance Gf il be a SIM
j must confess myself TO be a possible VIC
tim. This confession. however, ought not
TO classify me as separate from my fellow
men generally, whether they be considered
as individual units or as congre ga ted in
groups. Ignorance is a relative, not an alb
solute term. since few are totally ig-
ncrant, and none is absolutely wise Nor
change this fact, since the wisdom of a
group, however large. cannot be greater
than that of the wisest man in II.
This remains true whether the subject
hibNltuSt anu Judgment
be astronomy. physics or finance The con-
demnation then involved IN the resolutions
referred to is measured by the just or i'm
perfect apprehension of questions relat-
ing to monetary science held by the wisest
man who supported them.
Laying these general considerations
aside. let me say to you and through you
to the great body you so hoRorably repre-
sent, that IL instead of denunciatory reso-
lutions, which are not argument, you OF
any one on your behalf will show that the
views | entertain and advocate are other
than salutary to the great economic body
of which we are all independent members,
l will abandon them without hesitation.
My present conviction, the honest fruit of
sincere study and reflection. Is that a
breakdown in our present money standard
would be a most disastrous blow to all
our commercial ard industrial interests
and that upon the wage workers. as a
class. would be entailed the most serious
effects of the disaster. Believing this 1
must so bear witness.
Respectfully yours,
LYMAN J. GAGE"