The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-01-18

OIL 81. James. Further than this. from
| the day OF first entering upon the fll-
hlment of our duties until now the
president of the United States has ex-
tended TO the commission his unswerN-
ing support in all its efforts to bring
about an International agreement.
! There has been no moment that We
have not known that back of our efforts
was the earnest desire of the chief
executive to carry out in its integrity
the provisions of the platform of the
| republican party pledging every effort
to bring about an international bimet-
allie agreement"
The failures of former international
conferences. he said made il evident
that unless some prior understanding
was arrived at with some of the COM
inerclal nations. another failure would
be the result of an International con-
ference at this time, and as France,
Germany and Great Britain had within
the year made declarations favorable
to silver. il was decided to bring this
subject to the attention of those yari-
Gus countries. and naturally the first
turn was made to France for many
reasons, but above all because of Pre-
mier Melne's belief i'm bimetalism. In
France he said. the quest ION nj himat-
allism was regarded as strictly an in
ternational question. and IL was agreed
that France and the United States
should unite in presenting the question
To Great Britain. He contended for
the importance of the preliminary un-
derstanding with France because of the
large per capita circulation in that
country.
Had England even adhered to her
assurances of the nth of March. 1896,
countries representing more than half
the total money of Europe and the
United States would have agreed prior
to a conference that. upon terms to he
settled at such conference. they would
reopen their mints to the unlimited
coinage of both gold and silver"
Mr.. Wolcott detailed at some length
the joint negotiations on the part of the
American commissioners and the
French ambassador in England. At
first he said. there seemed but few diff
ferences in the way and he quoted the
resolutions of the house of commons
and the utterauces of Mr. Balfour and
Sir Michael Hicks Beach of March Il,
1896.
Not Intruders.
we were not, therefore, he contin-
ued. 'intruders. We could present our
selves with the certainty of that recep-
tion which must follow an open and
direct invitation, and the welcome we
had the right to expect we received.
From the day we reached England un-
til we left finally in October. our official
treatment was everything that could be
desired. The English ministry in terms
asked the French ambassador and our
selves to suggest wherein in our opin-
ion. England could materially contrib
ute to solution of the question and at
the same time retain for her own peo-
pie the gold standard: and what are
termed the proposals were not volun-
teered but We're made by way of sug-
gestion at the explicit request of the
English ministry When they were re-
eeived they We're treated with full con-
sideration, were the representatives
of the governments conducting the ne
collation.
Mr.. Wolcott admitted. however, that
it was not surprising that another view
should have prevailed in this country,
a view based. he said. "on the intem-
perate and hostile and somewhat bru-
tai utteranceS of the London press re-
specting the proposals of the French
and American representatives
THE newspapers of London, like the
newspapers of many of the capitals of
the world, he went on. are dominated
by and allied with the banking element
and reflect their views and often their
expressions. The business of money
loaning is an engrossing pursuit. not
always lending to the cultivation of the
amenities of life, and it is not to be
wondered at that the London newspa-
pers yoicing that industry should, in
their hostility to a policy of which they
that courtesy which is due to the
stranger within the gates. and especial
" when he comes upon invitation, and
that they should be led to characterize
the proposals as impertnent' which
are made only at the request of their
own government"
Out of the Question.
1t was perfectly realized from the be-
ginning. he said, that bimetallsm for
gfs.,x
was the vital point of all the negotia-
tions with England. and all other pro-
posals We're insignificant in comparison
with that respecting the reopening Of
the mints of India to the unlimited
coinage of silver and the repeal of the
order permitting gold to be paid for
government dues and to be exchanged
for government rupees Mr.. Wolcott
spoke at some length upon conditions in
India, explaining the value of the rupee
since the closing of the mints TO silver
in 1893
The closing of the mints had he said,
created wide dissatisfaction and there
was a general impression that the In
dian government would be glad to re-
trace its steps.
Many English monometallists of wide
influence believe the policy To be a mis-
taken one, he said and would be glad
to see the India mints reopened. If it
cause Of bmetallism and as a separate
and distinct action. There was gem
eral opinion not limited to England that
the Indian government would he quick
to avail itself of an opportunity 10 re-
open its mints, and would welcome an
other international attempt towards hi-
metallism that would raise the value of
silver. and would be glad To cooperate
in such an event.
This belief found expression iii the
speech Of the chancellor Of the ex-
cheqner on March l., and ! am sure
that | violate no confidence when / say
the answer of The Indian government
protesting against reopening of the
mints was as much surprise t. the
English ministry IL MAS a disappnirt-
ment TO Us. While the protest WAS not
final and while the English government
could have averruled the objection from
India. vet such action would have been
contrary 10 all precedent. As a mat
ter Of fact, the home government 1t Is
said. unanimously upheld the report
Frequent statements In our papers
assert that the answer Of India MAS de