The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-02-23
WOLCOTT'S NEW IDEA
Colorado's Silver Republl-
can FaVors Internation-
al BimetalliSm.
TO NAME NINE COMMISSIONERS
Free Coinage at Contract Ratio
Investigation Of the Tariff
Revenue Results.

WASHINGTON, Feb. 90, 1S95-Immedi-
ately after the reading of yesterdays
journal, Mr.. Wolcott (Rep., COLI gave
notice of an amendment to the Sundry
Civil Appropriation bill providing that
whenever the President of the United
States, on the invitation of the Govern
ment Of Germany or Great Britain. or
| any of the Governments of Europe, shall
determine that the Government of the
United States shall be represented at any
international or other conference to be
held with view to secure internation-
ally and to fix the relative value be-
tween gold and silver as money by
means of a common ratio between those
metals, with free coinage at such ratio,
he shall be authorized to require the at
tendance of nine commissioners, to be APP
pointed as follows:-
Three by the President, by and with
the advice and consent of the Senate;
three members of the House of Repre-
sentatives, and three Senators of the
next Congress, and appropriating $780,
600 for the pay and expenses of the cem-
missioners and for the share of the Unit
ed States in the expenses of the confer
ence.
1t was with much hesitation, Mr.. VOL
colt said. and after consultation with
others. that the amendment was offered.
The chief embarrassment had arisen
from the fact that it might have been
construed abroad as indicating an undue
desire on the part of the United States
that other countries should enter into
some agreement for international bi-
metallism. But. inasmuch as nine months
had to elapse between the adjournment
n Gnr1or1 nd -
next, and inasmuch as the President of
the United States Gf this country should
be called upon to act with other nations
in some conference looking to interna-
tional agreement regarding gold and sill
ver) would be powerless to act except
by the appointment of commissioners,
and would be unable to clothe them with
proper authority or to have funds for
the representation of the United States
or for its share of the expenses of the
conference, it seemed wise to offer the
amendment now. The proposition, Mr..
Wolcott added. would be satisfactory,
he thought, to the bimetallists who
voted for bimetallism. and it ehould be
equally satisfactory to these bitmetallists
who professed adhesion to bimetallism
but voted against it. Gaughter.)
The President would naturally. Mr..
WoIcott added. select for the three COM
snissioners whom he would appoint men
outside of public life. The two Houses
would select men best fitted to act in
the matter. All Senators had knowledge
of men among them who could well rep
| resent them in any International confer
enoe-nnen who spent much of their
lives in the study of the general financial
questions of the country. and who had
illuminated the subject through years Of
thought and through uUterances.
For these reasons it seemed better that
Congress should name its membership
of the proposed commission. The Sem
ate had. the other day. by large ma
iority. declared its conviction that BIZ
nuetalllism Through the United States
should at once be inaugurated. There
had been a disinclinatfon to interfere
with the business of the session. and a
knowledge that nothing in the way of
legislation could be practically accom-
pEshed at this time and under existing
circumstances. But the Senate declared
its opinion-said the suffering. and the
poverty and the paralysis of business.
which had overtaken the land-that the
way out was. not by waiting for tha
uncertain action of European countries.
the adoption of gold lnonometallism. but
by return to the principles laid down
by the Constitution and by the financial
policy which had brought prosperity to
the country for more than century
I'VE are.'' he concluded, 'for bimetal-
lism by the United States alone. If
other countries will join US, so much
the better The adoption of this amends
| ment will give this country an oppor<
tunity to act in concert with other ma.
tions if that cooperation shall be tens
| dered u.s.
| The amendment was referred to the
| Committee on Finance.
| Mr.. VoorheaS (Dem., Ind), Chairman
| of the Finance Committee, offered a reso-
| luton, which was referred to the Conn
mittee on Contingent Expenses. author
| izing and directing the Finance Commits
sessions ses Of the Senate, facts in relation
| to receipts from customs duties and
| from internal revenue taxation. He said
| it was the same work whicn the cou1-
| mittee had had on hand for the last two
years, and would entail very little ex-
penSe. .