Rock Island Argus., 1897-10-23
CANNOT HELP SILVER
Details Of Wolcott's Negotiations
for Free Coinage Of the
White Metal.
PROPOSALS MADE TO THE BRITISH.

But which Failed 70 Secure John Bulls
Acquiescence-France Ready to Go the
Limit II Other Commercial Nations
Would; but She Makes . Demand on
England That Is Promptly Rejected
Situation Not Hopeful for dads Dollar
-India's Objection to q Change.
London, Oct. 23.-The correspondence
in regard to the bimetallic proposals of
the United States monetary commission
was issued by the British foreign Office
last evening. The following account
OF the negotiations is taken from the
official publication. At the conference
held at the foreign office on July II the
Marquis of Salisbury, the secretary cf
state fer India Nord George Hamilton).
the chancellor Of the excheQuer (Sir
Michael Hicks-Beach), the first lord OF
the treasury "a. ]. Balfour). the United
States ambassador Colonel John Eay)
and the United States monetary COM
missioners (Senator Edward o. Wolcctt,
ex-Vice President Adlai E Stevenson
and General Charles Jackson Paine)
were present. On the invitation of the
British premier Senator Wolcott ex-
planned that the object of the mission
was to ascertain in advance OF an in
ternational conference the views of the
governments, and the eEvoys had deter
mined to ascertain the views of the
French. British and German govern
ments on the question OF reaching an
international bimetallic agreement.
France Was Ready to Co-operafe.
They had been to France, where they
had reached a completea and satisfactory
understanding with the French gov
ernment, and the ENJOYS would have
the co-operation in this matter Of the
French ambassador in London. The
senator then explained that the success
Of the mission depended upon the atti-
tude Great Britain would take. and he
requested Great Britain TO agree to
open the English mints. as it's cortri5u-
ton to the attac:pt to restore interna-
tfonal b!nietallism. with France and the
United States cooperating together in
an attempt to that end.
Tfa Ma auis of Salisbury asked II
France was ready to open her mints u
free coinage. and Senator wolcott re-
piled, Yes The premier thereupen
inquired at what ratio France would
open her mints. Wolcott said at 151A,
adding that the American ENJOYS had
accepted this ratio.
Suggestions for England's Assistance.
The senator then presented the fol-
lowing list of contributions which,
among others. he suggested that Great
Britain might make:
First. the opening Of the India mints
and the repeal Of the order making the
9OvereiGn tephar IN
Second, placing one fifth OF the bullion
IN the issue department OF the Bank of
England in silver.
Third. raising the legal tender limit OF
silver TO. say, s10. and issuing 2O-shill-
ing notes based on silver which shall
be legal tender. and the retirement, in
graduation or otherwise, of the 1O-shill-
Ing gold pieces and the substitution OF
paper based on silver.
Fourth. an agreement to coin annual
ly SO much silver. the amount to be left
open.
Fifth, the opening Of the English
mints to the coinage Of rupees and the
coinage Of British dollars which shall
be full legal tender in the Straits Set
Elements and other silver standard COL
onies. and tender in the United King
dom to the limit Of silver legal tender
Siyth. colonial action and the coinage
OF silver in Egypt.
Seventh. something having the gen.
eral scope Of the Huskisson plan.
Adjourned to Meet Later.
The meeting then closed, and it waa
understood by the parties that the alb
sence OF the French ambassador, Baron
de Courcel. from the proceedings should
be regarded as informal and a second
conference was held on the 18th al
which in addition 20 those already men,
toned, the French ambassador and NJ
Geoffrey. the councillor Of the French
embassy, were present.