The Saint Paul globe., 1897-04-14
HOPEFUL FOR SILVER
SENATOR WOLCOTT EXPECTS
G1EAT THINGS OFF THE
MONETARY COMMISSION.
OPPOSITION TO THE PLAN.
AN ENGLISH SILVER MAN WILLY
OPPOSE ANY INTERNATIONAL
AGREEMENT.
The Ex-Vice President Will Cheer
fully Render All the Service in
His Power.

| WASHINGTON April 13-The naming
OF commissioners by President McKin-
! ley, under the act of the last congress
! to promote bimetallism, was the sub
! Ject Of considerable discussion about
the capitol today Almost without ex-
ceptton, the selections were commend
ed. Senators, regardless of party, were
| pleased with the selection of ex-Vice
President Stevenson. 1t appears that
this selection was the presidents own,
! no one appearing to urge his appoint
ment. The president desired a Demo-
crat who stood high in his party, and
who was an earnest silver man. He
sent for Mr.. Stevenson, and after talk
ing the subject over with him, decided
to make him q member of the commits
| sion. President Mckinley desired that
the subject of international bimetallism
should be lifted above party politics,
and that the men selected should be
| those who would work in harmony
| toward bringing about an agreement.
1t was also believed by the presi-
dent that the name of Mr..
Stevenson, would give the commission
great weight abroad.
Among the earnest advocates of the
| selection Of Mr.. Payne were Senators
Hoar, Allison and Chandler, all of
whom talked with the president on the
subject and recommended him as a man
who would materially aid the cause of
bimetallism.
1t has been generally conceded for
some time past that Senator Wolcott
would be one of the commissioners. as
his hardest work since the election has
been in the direction of bringing about
al international agreement Senator
Wolcott is very hopeful of success. He
looks forward to hard work, but says
from what he learned while abroad
he is most sanguine Of results Sena-
tor Wolcott believes that in the selec-
ton of the commission, and especially
in naming Mr.. Stevenson, a silver man,
who supported Mr.. Bryan, President
Mckinley has convinced everybody that
he is an earnest bimetallist. Bimetal-
lism at home and abroad, he says, will
be promoted by this selection.
Opposition to the scheme for inter-
national bimetallism has developed
from an unexpected source. Morton
Frewen Of England, who has given
great deal of attention to the subject
and who has visited this country sew
eral times, in the interest Of silver, is
now opposing an international agree
ment, and declares that the money
question is one which each nation must
settle for itself Mr. Frewen will op-
pose any agreement and use his inf1u-
ence against the new commission when
1t goes abroad.
Senator Wolcott said today that gold
standard countries would oppose any
further depreciation of silver, and that
the efforts were now being made to
prevent any further fall of silver in
India, also that the demand for gold
by Japan in establishing a gold stand
ard would cause a drain of gold from
Europe which would be resisted by
gold countries. In the United States
Senator Wolcott anticipates little op-
position to bimetallism. What oppo-
sition, Mr.. WolcOtt says, there is, comes
from the German bankers of New York,
who are already fighting bimetallism,
and whose opposition the commission
will meet when it goes to Europe
Senator Wolcott further said that
there appears to be a mistaken impress
sion that the commission is appointed
with the purpose in view of having it
represent the United States at a con-
ference only. While the commission
might be utilized in that way if a con-
ference should be held, its first work
is to be Of a purely diplomatic charac-
ter, looking entirely to securing Euro
pean cooperation. The commission eX-
poets to leave this country about the
middle of May, and Immediately upon
arriving in Europe, the members will
set themselves to that task. Whether
there shall be a conference at ALL will
depend upon how the advances of the
commissioners are received by the prn-
cipal powers.
The appointments inspired little COM
ment among the members Of the house.
1t was suggested by some that the
European antagonism to protective
tariff policy on the part of the United
States made the present time an un-
favorable one for the United States to
take the initiative in movement to Sc
cure bimetalHsm by International
agreement.