For the one-dimensional Holstein model, we show that the relations among the scaling exponents of various correlation functions of the Tomonaga Luttinger liquid (LL), while valid in the thermodynamic limit, are significantly modified by finite size corrections. We obtain analytical expressions for these corrections and find that they decrease very slowly with increasing system size. The interpretation of numerical data on finite size lattices in terms of LL theory must therefore take these corrections into account. As an important example, we re-examine the proposed metallic phase of the zero-temperature, half-filled one-dimensional Holstein model without employing the LL relations. In particular, using quantum Monte Carlo calculations, we study the competition between the singlet pairing and charge ordering. Our results do not support the existence of a dominant singlet pairing state.