Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-18


for the Importance OF n preliminary I'M
derstandng with France because or tne
large per capita circulation of that coun-
try. HAD England even adhered TO her
assurances OF the 18th OF March, 1870, ne
said. countries representing more imam
half OF the total money OF Europe ana the
United States would have agreed,
prior to a conference. upon terms to be
settled at such conference, that they
would open their mints to the unlimited
coinage OF both silver and gold together
II was perfectly realized from the be-
ginning. he said. that blmetaiIism for
England was out OF the question. India
was the vital point OF all the negotiations
with England, and ali other proposals
were insignificant In comparison with that
respecting the reopening OF the mlnts Of
India to the unlimited coinage of silver,
and the repeal OF the order permitting
gold TO be presented for government dues
and 20 be exchanged for government
rupees.
"The answer of the India Government.
protesting against reopening the India
mints" continued Mr.. Wolcott. was as
much "A surprise TO the English Ministry
as IL was a disappointment 10 us. While
the protest was not final, ond while the
English Government in London could
have overruled the objections from India,
yet such action would have been con-
trary 90 all precedent. AS matter Of
fact. the home government. It il said,
unanimously upheld the report"
THE INDIA SITUATION.
ITO us" Mr.. Wolcott continued. 1.-The
India situation is inexpllcable. Millions
OF people. most of them extremely poor,
have for years invested all their savings
in silver. These Accommodations . few
years ago were worth a thousand millions
Of dollars and more. To-day they are
worth less than half that sum. The world
has heard much of the famine i'm India
and of the great funds subscribed for its
victims. 1t has not been, however, so
known that the famine was one
Of money. rather than of food that the
were chiefly forwarded to
india in the form of money, and not grain,
md that during the whole period Of the |
famine, rice was abundant where the |
men were starving, and its price was but |
! trifie over a cent a pound-less than |
he price of wheat in England.
Mr.. Wolcott next enumerated the OBJ
tacles with which the commission had |
o contend, in which he included the re-
drop in the price of silver, |
he coincident tariff legislation in the
Inlted States, and the statements of New
'ork bankers in England, who. he said,
ought access to English officials. and
ssured them that any sentiment which
ad formerly existed in the United States
! favor OF bimetallism was dead. Other
tatements made by the bankers. accord
lg to Mr.. Wolcott were the following:
hat the commission was sent solely as
SOP TO q few far western Republicans; |
lat the country generally favored the
DID standard and that the people Of the
nted States shared this view.
''The statements WERE" Mr.. Wolcott |
id. "Of course untrue but in support
them those people assumed to present
teryiews with, and statements of, the
rector Of the Mint hold-over from ,
e last administration: the late Comp
oller of the Currency. an equally pre-
)us legacy, and pretended state
ents in letters and interviews from the r
cretary Of the Treasury to the effect 3
at there was no chance for interna- I
)nal or other bimetallism, and favoring d
e permanent adoption of the gold \
lndard." i
rhe commission was, he said. also at :
cked from time to time by statements h
I'm extremists in the other direction. d
r. Wolcott summarized the present stu '
ion by saying that it is apparent that s
r the time being it is useless to count G
any cooperation from Great Britain !
ward a bimetallic agreement, and that i
lie France actively desires silver re- I
red to it's old position as a standard a
value, conformity with gold she in II
Is that the problem is one which de- f.
nds international action and the CO. p
sration to some adequate extent Of u
Ter leading commercial nations Of the
rid.
wOLCOTT TO RETIRE. Is
Iere Mr.. Wolcott announced his inten- V
n to retire from the commission. He II
d: o.
1t IS my sincere conviction that inter -
ional bimetallism is still feasible. by IL
ioh term 1 mean that certain coun- IL
es will join us and open their minis to OF
unlimited coinage OF silver, and II
lers will contribute to the plan an en- do
ged use Of that metal as money; and &C
ay this the more freely because 1 shall ;.
e way upon the commission TO some q.
ly better fitted for such negotiations hi
] better able to give them his constant 50
e. This result cannot be brought st
nut without the expenditure of both Iii
e and patience, and the persons en- m
sted with the duty of negotiation must 81
We back Of them the hearty support Of
President and of Congress"
e thought it might be necessary to ~
nge the ratio to something like 20 to l. ~
e Of Secretary Gage on the financial oh
stion, contrasting it with the Presi- 3
is position. Their dispositions. he
|, are contradictory. He criticised the d l,'
retary's bill, for which he predicted fir
eat di
r. Wolcott closed with a strong plea
international bimetallsm. He con- we
led his speech at 2:05 p. NJ, having 10
ken for an hour and fifteen minutes. se
he sat down there was a burst Of ap- ne
ise throughout the chamber, and for bi
aral minutes he was surrounded by
colleagues who desired to tender TO
their congratulations. -,
THE IMMIGRATION BILL. H. H.
the conclusion Of Mr.. Wolcott's III
.ch the immigration bill was taken up pc
discussed until o'clock, the hour at ~.
ch, by previous agreement, it had been
'nged to vote finally upon the amend 4
ITS and the bill. After the adoption Y
two amendments, proposed by Mr.. ~
oner, Of Wisconsin, the bill was passed 40
1 vote Of 40 TO %.
he detailed vote was as follows: Al
.as-Messrs. Allison, Baker, Burrows
non, Carter. Chandler Chiffon, clark, 4
is. Ell,ins. Fairbanks, Foraker FRYE
niger, Hale, Hanna, Hansbrough.
ris, Hawley Hoar, Kyle, Lodge. Nc
e Mcmillan. Mantle Mason Morrill,.
rose. Perkins, Pettigrew, Platt of :.
necticut. Plat of New York, Pritch- 10
Proctor, Quay, Sewell Shoup, Spoon an
Teller, Thurston, Tilman, Warren. d;e
more, Wilson, and Wolcott-45.
Allen. Bacon, Bate. an
Y. Cafery, Clay. Cockrell, Daniel. sat
nan, Heitfeld Jones OF Arkon- =