The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-30

IA president of the American Fed
" Tabor. has replied in an open
4 Secretary Cages recent letter
.xceptions to the resolutions passed
rederation with reference to the
x..rcial bill. Mr.. Gompers says in
hte exception both to the position
.,r organization has taken on your
.weIl as to the language employed,
4 YOU are justified In the one. you
IL misapprehend the other. | sub
4 YOU will seek in vain for single
5,tory word either in regard to your
YOUR plan or your bill. We realize
denunciation is not argument, but,
ARE our position and the statement
Act In regard to most important
hr reaching measure affecting and
bns the financial system of our coun-
"a BY no means be construed as
tiation.
reSOIullpE uttldiS aesdihSb yum
|or committing our country to the gold
rd--a plan for destroying our green
and substituting bank notes-a plan,
n for weakening the control Of the
hal government over That most im-
n ~ all measures, the measure of
and strengthening the banks;
aiming at what you call currency
IL and which we call bank monop-
you should take offense at these
items ] regret, for that it is u right
press disapproval of the acts of our
bic is one of the rights held by the
lean people and one you will freely
|. We do not charge you with zig
he, relative or absolute or allege
evil purpose or d "perversity OF mo-
on your part, as implied in your
nor, upon rereading the resolution,
you find them either condemnatory
nunciatory as you say they are.
resolutions are declaratory of tire
81 the American Federation Of La
bd are entirely impersonal, for. of all
In public life. We have the greatest
1t for your propriety and integrity.
American Federation of Labor and
the position YOU have taken in re-
10 the sentiment of our greenback
hey ID antagonistic TO their interests
bey are opposed to your plan for more,
pghly committing this country TO the
etandard
ask what evils have resulted from
Inference to the gold standard. an
that the evils are those that have
and ever must grow from a dishon-
easure OF values, measure of values
nterferes with just distribution of
mat deprives some men of a part
" earnings that is rightly theirs and
II upon others who have earned 1t
any measure OF values that thus
an UNJUST distribution of the. prod
TABOR, that deprives the producers
fruits OF their toll, cuts down wages
rofts, thereby destroys the incentive
efnrise, makes Industrial stagnation,
ea likeness, distress and D bile suf-
products of labor are divided into
central shares. One share
as Interest," and rent to the
lender and landlord. 10
I.'s.s VINO do not productivity use
own capiial, who seek to avoid the
promotion. A second share goes
olM to employers. A third share
wages to wage earners. The inter-
ses anu rents are to great degree
~ profits and wages are subject TO
,thsctlations. This being so. it is
va. anything that reduces the total
'Mue u the products of labor must
~ me share of the money lender and
"oaeh nominally fixed and de-
me snare to be divided among en-
,h aaa wage earners. 1t is equally
S aa. y increase the value of money
srI the value OF the products OF
80 therefore enrich the creditor at
pease OF the debtor. Now, If our ad-
Tue gold standard has caused
h,d sioW dearer you must admit that
s,ahuard has done injury to the
brought distress to wage earnes
at.oyefs and discouraged enterprises.
'.elence to the gold standard has
,money to grow in value. and of
'oFced the things measured in
~ lall in price.
,aho, - is not alone to the cheapen-
t,'si al. cost of production, but also to
~, appreciation of gold that the
jna ''es since 1872 has been in great
NJ, ANA this appreciation has
b Oh the decentralization of silver.
~ increased the demands for gold.
rs.a question that every producer
my fias the fan in prices cur
Earnings? II the fall in prices
ID sue only to general improved
NJ =. production lessenfng the true
s,,eh ouuclion, he mas suffered no loss
n tall, Moreover, the fall in
,n nee lsi3, common to ali gold us
W. res 2 iall in prices of 20 per
per, W. grown out of Improvement in
kts, exclusively; that the labor OF
~ mas not been Increased by one
!, ne past twenty years and that the
In da,r aali IN prices must be in what
10 a. money, and was due pri-
heeS ~ J.. appreciation in gold.
ine N the value OF money have
S,h m the movements OF prices
n 'ast nall century and were great
/ n, .ne price movements in one
no .ihg the quarter of a century
w. ne gold discoveries in California
ton much progress in the lines OF
|sch. much Introduction OF labor saw
|cos. much cheapening In the
2, Production. This. on your
| pia nave caused steadily falling
~, %hat happened? The outpour- |
,so.u eheapened gold to a greater |
~ an commodities were cheareaed |
In, .ssults We're that prices were |
nieier 80 per cent at the end of |
b tlan at the beginning. Then |
pappened2 W. o,,r,,r ., 4t.