The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-17
LETTERS FROM THE PEOPLE
The Money Trust.

| Inc money
To the Editor of The Post.
Houston. Texas. April ID see by
Friday mornings Post that Judge Van
Wyck In his. in many respects admirable
address, at the $1,000 Jeffesonan Dinner
says: There are other questions; but II
there be not in these (of the tariff and of
the trusts. with their death TO free compe-
tition and individual enterprise) ground
enough for successful appeal to an enlight-
ened people, political experience In the
United States is much at fault" This is
very well, but the trouble with our Eastern
so-called democrats. is that they insist in
protecting" one special interest and fos-
tering one gigantic and unconscionable
trust. When they learn that to insist on the
gold standard and to oppose the free coin
age of silver is simply to protect the pres
ent holders and controllers of the existing
supply OF money, or sold. against the COM
petition of new supplies OF money from the
mining and coinage of silver and the is
sue of paper based upon that, as well as
| gold for its redemption, Is but to foster
the most powerful trust in existence, then
we can hope for them to return to true
democracy and join with the regular demo-
Gratis in opposing all character OF protec-
| ton and all classes OF trusts. ] have some
times thought that IL has not been suf-
| hcienSly impressed upon our people that
democratic advocacy OF bimetallism. or free
coinage of both gold and silver, is not only
| in harmony with democratic opposition
| to the principle Of protective tariffs, or
protection, and TO trusts and combinations
in restraint of trade, but is a part and par
eel Of those doctrines
There might be some excuse and cer-
tainly Is some argument for the principle
/ OF protection in the claim that by protect
| ing a class of manufacturers from foreign
| competition by a protective tariff others
with be induced TO embark in the business
and thereby raise a home competition
that will enable the people to purchase the
products of the mandatory at reasonable
| prices, and at the same time enable the
! people of the country 10 manufacture their
| own supplies and render the country inde-
| pendent of foreign manufactures: but no
such claim can be advanced for the protec-
ton OF gold or existing supplies of money
| from the competition OF silver money
based upon it, as such protection can not
add single ounce to the supply OF gold or
a single dollar of paper money based upon
ft, What consistency, then, is there in
opposing the principle Of protection when
/
or supporting 1t when applied to proposed
| measures for the raising or encouraging a
source of competition to gold or the exist
| ing supply OF money, or in opposing trusts
organized to maintain or raise prices OF
manufactured goods or supplies OF mo-
nopolistic character and encouraging the
money trust by opposition to the encour-
agement of competition in money by pro-
viding for new sources OF supply?
n iS
money of the world. that all the most en-
| lightened foreign countries have adopted
| It, and that II it is good for them 1t Is
certainly good for our country and that
! had 1t not been best 1t would not have
been adopted by the most highly civilized
nations, etc" The same argument would
condemn our system of government. as the
most enlightened and highest civilized
| foreign countries have adopted different
| forms of government from ours; but ii II
is conceded that the gold standard is best
for England or other foreign country, 1t
would not follow that IL would be best for
ours. Things are equal TO the same thing
when they are equal 10 each other, and
for a law or condition that Is best for
one person, community or country. to
be best for another that other must be
alike situated. The gold standard, with
high purchasing power OF money, Is only
good for creditors. annuitants and officials
with long or life tenure in Office in any
country while the mass who belong to a
different class are. because OF 1t, contin-
uslly threatened with loss in business. de-
preston in prices and idleness, and it is
because the owners and controllers OF
money have become the ruling classes
In so many countries that we see them
adopting the gold standard, and If there
Is any justification for industrial trusts,
1t is In their purpose TO attempt 10 coun-
teract the continued fall in the prices OF
manufactured articles CONSEQUENT upon a
4 deficiency in the supply and sources Of
supply of money, and in my opinion that
fact gives force and strength to the Ell
forts of manufacturers and others to or
ganize combinations to prevent the leglti-
mate effect of the gold standard. 1t may
be. and probably is true. that many OF
them have not reasoned the effect back
To the cause. They know that there Is a
| tendency in prices to fall below cost of
production and without analyzing the
cause they seek by combination to prevent
1 IL
/ | am aware that 1t is pointed out by
the opponents of bimetallism that the pro-
ductlon of gold has greatly increased in
the last few years, so much so that the
! value produced annually is almost as great
as was that OF gold and silver few years
| since. and II may be that 1t has had some
| influence in retsrdinG depression or even
in improving conditions, but 1t must be
| remembered that population and COM
merce has increased even more rapidly
than the production of gold, II We consider
| any considerable period, and while such is
! tho case, as money is an instrument OF
| commerce. the necessity for its increase
grows correspondingly with the growth of
commerce
Let us, then, hope that our Eastern
brethren will learn these fundamental
principles OF democracy and in 1900 join
with the regular organization in advocat-
ing as free a trade as the circumstances
and conditions of the country will admit,
free competition OF gold and silver
| through free coinage and opposition 60
| all trusts not excepting the money trust,
and the doctrine of the fathers that life.
! liberty and the pursuit of happiness are
! lnalienable rights and that TO secure them
governments are instituted among men,
deriving their just powers from the con-
| sent of the governed" I. o. Shinn.
| The single Tax Doctrine.
| To the Editor OF The Post.