The indicator., 1897-04-17
THE CURRENCY COMMISSION.
Comment at WashinEton-Mor Frew-
en- Objects 10 the Plan.

Washington II. C.. April 1.-THE
naming of three commissioners by
President Mckinley under the act of
| the last Congress to promote himc,al-
lism, was the subject of considerable
discussion about the capitol ycster-
| day. Almost without exception the
| selections were commended. senators
regardless of party We're pleased with
| the selection of eX-Nicc-prcsident Ste
vcnsou. II seems that this selection
WAS the Presidents own. no one ap-
pearing 10 urge his appointment. The
President desired II Democrat who
stood high in his party and who was
an earnest silver man. ne sent for MIR
Stevenson and. after talking the sub
| ject over with him. decided to make
him member of the commission.
| President Mckinley desired that the
subject of international bimeiallSm
! should be lifted above party politics,
| and that the men selected should he
| those who would work in harmony TO
ward bringing about an agreement.
II was also believed by the president
that the name of Mr.. stevenson would
give the commission great weight
abroad.
Among the earnest advocates of the
selection OF iIr Paine were Senators
Hoar, Allison and Chandler. all of
whom talked with tlr president ON
the subject and recommended Inn rs
II man who would aio materially the
cause of bimetallism.
1t has been generally conceded for
| some time past that Senator Wolcott
would be one of the commissioners,
as his hard work since the election
has been In the direction of bringing
about an International agreement.
senator Wulcott is very hopeful of
success. lie looks forward To hard
work hui says from what he learned
while abroad last year h" is most san
guinc OF results. Senator WOlcott he
licvcS that in the selection of the com
mission. especially in naming Mr
Stevenson, n silver man. and who sup
ported Mr.. Bryan, President Mckinley
has convinced everybody that he is
an earnest bimetallist. Bimctallism at
home and abroad. he says, will he pro-
| NOTED by this selection.
Opposition 10 the scheme for inter
national binctallism has developed
from an unexpected source Morton
Frcwcu. Of England. who has given II
, great deal of attention to the subject,
and who has visited this country scv-
/ eral times in the interest of silver. is
now opposing an international agree
mcnt and declares that the money
| question is one which each nation
| must settle for itself.
| Mr.. Frewcn will oppose any agree
| ment and Use his influence against the
new commission when it goes abroad.
senator Wolcott said yesterday that
| the gold standard countries would op-
| pose any further depreciation of silver
and that efforts We're now being made
| to prevent any further fall of silver in
| India. also. that the demand for gold
by Japan in establishing gold stand
ard would cause n drain of gold from
| Europe which would be resisted by
| gold countries.
In the United States Senator Wolcott
| anticipates little opposition to binet-
| allism. What opposition. Mr.. Wolcott
says. there is. comes from the German
| bankers of New York. who are already
| lighting bimctallism. and whose op-
position the commission will meet
| when II goes to Europe.
Senator Wolcott further said that
| there appears to he II mistaken I'M
| preston that the commission is ap-
| pointed with the purpose in view of
| having it represent the United Statcs
AT conference only. While the com
mission might he utilized in that way,
| if n conference should be held. Its
| first work is to be of Il purely diplo-
matte character, looking entirely To
the securing of European co-opcra-
liun. The commission expects 10 leave
| this country about the middle of May,
and upon their arrival in Europe will
set themselves to that task. Whether
| there shall he n conference NJ all will
| depend upon how the advances of the
commissioners are received by the
| principal powers.