Evening star., 1934-07-10
SENATOR THOMAS AROUSED.
Infiationist Leader Sends Sharply
worded Letter to Harrison.

Inf1ationiSt Leader Sends Sharply
worded Letter to Harrison.
BY the Associated Press.
Inflationists were irritated today by
reports tlat George L, Harrison. in
talks at Basel. Switzerland. might be
promoting the idea Of stabilizing the
relation between the dollar and the
pound.
Indications at the State and Treas
ury departments we're that Harrison,
governor of the Federal Reserve Bank
Of New York. was not acting for those
departments in his conversations with
Montagu Norman, governor Of the
Bank of England.
With President Roosevelt away. no
comment was forthcoming from the
White House.
Thomas Protests Meddling.
A leading Senate infiationist, SEN
ator Thomas. Democrat, of Oklahoma
dispatched a long cablegram to Har-
rison saying that instead of being
stabilized. the dollar must be restored
to its 1925 purchasing power.
"As member Of Congress I pro-
test your assumed authority to meddle
in this way.
Your viewpoint and your activities
do not represent the best interest OF
our people, and your acts are certain
to provoke a demand for a congress
sional inquiry.
Your reported activities can lead
to so many serious consequences that
I am communicating with my fellow
members OF Congress concerning them.
II warn you that any step you take
toward tying our money in anyway
to any foreign money is a usurpation
of the powers and prerogatives of
Congress.
Will Refuse to Pay Debts.
unless those who have authority
to act take steps to do so, then the
people already moneyless and power
less will have no alternative other
than to refuse to pay their debts.
public and private"
Thomas asserted that Harrison lied
New York influences in counseling
the deflation policy Of the Hoover ad-
ministration."
You ignored the example of wiser
financial leadership in many other
countries which released their peoples
through raising the price of gold
early and high enough to correspond
with its increased value" Thomas
said
1T was your personal fate through
lack of understanding of monetary
forces to be the central figure in the
worlds greatest, most inexcusable and
most costly tragedy of financial lead
ership. I ask by what right do you
now presume to initiate even par
tial return to your policies which have
been tested and proved so ruinous.
See Wave of Reputation.
what American presuming to
represent all interests dare favor or
suggest stabilization of the dollar at
its present value?"
An attempt to stabilize the present
unjust dollar" Thomas continued,
May manifest itself at any time in
wave of reputation"
The Senator said that since Con-
gress adjourned he had made a trans
continental trip on which he found
one Southwestern city of 100000
that had 100000 on relief rolls. He
added that unrest was noticeable in
other sections.
I'VE dare not tie our dollar with
the English pound because England's
interests are not Identical with ours
the message said.
Your efforts in the exact measure
that they progress, will handicap and
embarrass the freedom of Congress to
exercise its most important sovereign
function-to regulate the value of
money
Foreign central bankers and gov
ernmentS may not understand that
your negotiations are an unwarranted
usurpation of constitutional powers of
Congress, and therefore your unau-
thorlzed negotiations may result in
serious complications unless it is made
clear that Congress has not delegated
to any one the power to regulate or
influence the value of this Nations
money by tying it to any foreign cur
rency."