The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1897-11-27
ADMINISTRATION THWlRTED wOLcoTT.
Defeated the Efforts Of IT. Own BIZ
metallic Commission.

The Silver Republicans Of the
4 Wolcott stripe are accusing the ad
ministration Of an act Of treachery
| II has just leaked out that the fail.
ure Of the Wolcott commission to
bring about the consent Ut Great
Britain 10 opening the India naints
is due entirely TO the interpoeition
Of the administration at Washing.
ton, which stabbed its own com
mission in the back.
This startling information comes
from an indisputable source, and
one day will be capable of docu-
mentary proof. As it is, the fact is
known to too many people in Wash
ington and in London to be con-
troverted successfully or b. covered
up.
A late Washington dispatch says ;
When the Silver Com mission, com posed
of Senator Wolcott. ex Vice President
Stevenson and General Paine, went to
Europe last spring it had no written in
structsons. but Senator Wolcott, as its
head, had had several conferences with
the President and Secretary Gage on the
general subject of al international agree
mcnt rs to silver coinage.
In France. the commission formulated
its proposition, the salient features OF
which were that France and the United
States should open their minis to the free
oil oil 81,
ratio Of 151R to l. contingent upon the
consent of Great Britain to throw open
xgan the min.s of India, and TO have the
Bank Ut England keep one. fifth Of Its
reserve in silver.
Cordial support met this proposition
in Paris.
On arriving in London, negotiations
progressed tayorably until u tact, agree
ment WAS reached that under favorable
conditions the Bank OF England would
consent to maintain the required silver
reserve. The proposition regarding the
India minis was taken up next.
Suddenly u damper was thrown on the
efforts Of Senator Wulcott aud his associ.
ates. The American Ambassador, Mr..
Hay, for the first time communicated the
XVI UA0A PsOROSeAAOuo VA 0AiSCA WIN
mission 10 TIE administration at w ashiug
ton. 1t was the first imitation that Pres
ldeut Mckinley and Secretary Gage hau
receives rs to what the Wolcott commits
sion considered All equiOIe agreement foi
International bimetaiilsm. At the very
next Cabinet meeting this was early in
October), the subject was discussed III
detail. Secretary Gage bitterly oFposeo
the proposition. lie pointed out thai
when the Bank Of England had main
tanned its one fifth reserve in silver lts
obligations were at an, end, and that even
were the mints of India and OF France
thrown open. the United States, owing I"
the situation of international exchange
aud the immense distrust that would De
enxeudered, would have to bear the brunl
ot the burden. In this condition, he
commended, it would be impossible for the
United States to maintain the parity he
tween Its silver and gold coin. 1t Was
stated positively by Secretary Gage, that
tue complications surrounding the cur
reucy problem, which was much wider
than the question OF Coinage, would be
increased materially, aud than an outflow
of gold to Europe, despite our present
heavy exports. would be equal to II. il
not greater than two years ago, The
whole financial fabric would he disturbed
and another pauic, such as the United
States experienced in 1893, would result |
The President and the Cabinet agreed |
substantially With Secretary Gage, but
were in quandnry. They did not dare
to discrcdlt utterly the Wolcott comi-is
Sion, their own offspring. Diplomacy was
resorted to. Ambassador Hay Was in |
structed to use his good offices to save
the United States from the. position to
which it almost had been committed by
the three American Commissioners. The
most vulnerable point was India. Mr.
Hay directed his efforts 10 have India
her consent to open her mlnts.
1t did not require much effort. for the
consent originally was given reluctantly.
and with Indix's withdrawal from the
concert the whole international agreement
fell to the ground.
Senator Wolcott came home immedi-
ately, but it was not until his arrival here
that he ascertained what caused this sud
den failure of the commission 3 efforts,
- De- !