Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-01-18

80 NoaAk "a St. oAAAS lag AGA hhISs
from the day Of our first entering upon the
fuifllment Of our duties until now. the
president Of the United States has ex-
tended to the commission his unswerving
support in all its efforts to bring about an
international agreement. There has been
no moment thai We have not known tina
back of our efforts was the earnest desire
of the chief executive to carry out in its In
tegrttythe provisions of the platform OF the
fort to bring about an International BIZ
metallic agreement"
Object of the Mission.
The failures of former International con-
ferences, he said, made it evident that, I'M
less some prior understanding were arrived
a: with some of the commercial nations,
another failure would be the result of an
international conference at this time. and
as France, Germany and Great Britain had
Bile to silver, it was decided to bring the
subject to the attention OF these various
countries. and naturally the first turn was
above all, because of Premier Meline's be-
lief in bimetallism.
In France, he said, the question of BIZ
ternational question, and it was agreed that
France and the United States should unite
al pre He eoate 1ns qq feT fSe to me G5ea5 sri If
the preliminary understanding with France
because of the large per capita circulation
hered to her assurances OF the 18th of
March, 1896. countries representing more
than half Of the total money of Europe and
the United States would have agreed, prior
to a conference. that. upon terms to be set
tled at such conference, they would reopen
their minis to the unlimited coinage of both
gold and silver"
Mr.. Wolcott detailed at some length the
joint negotiations on the part Of the Amerl-
sador In England. At first. he said. there
seemed but few difficulties in the way, and
he quoted the resolutions of the house of
Nnfn"nnG and tho roaC nj Mr. R1tfOnr
and Sir Michael Hicks-Beach of March IL.
1896. We were not. therefore" he contin-
Selves asH; Wit the cer Ms soo Of that plts Reception 9tiEll
which must follow direct and open invita-
ticn. And the welcome We had the right to
reached England until we left it finally in
October. our official treatment was every
thing that could be desired; The English
ministry, in terms. asked the French am
bassador and ourselves to suggest wherein,
in our opinion. England could materially
eon tbn sa me 20 t 4 sei reiain 81 fo rh her qu oWn peo aple
the gold standard; and what are termed the
proposals were not volunteered, but were
request of the English ministry. When
they were received they were treated with
full consideration. as were the representa-
tives OF the two governments conducting
the negotiations"
Attitude Of london Papers.
Mr.. wolcott admitted. however. that it
"dS iol NhoS oAAoeAASA u
should have prevailed in this country. a
view based, he said, ION the Incorporate
ard hostile and somewhat brutal ~utterances
of the London press respecting the pro-
posals of the French and American repre-
1.-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
The business Of money loaning is an en-
Cultivation of the amenities of life, and it is
newspapers voicing that industry. should,
d Ii app forget for the momen that
courtesy which is due to the stranger with
In the gates sn especially tSat Yb when sba me zones Pe Ie upon fo
which were made only upon the request of
their own government
II was Perfectly realized from the be-
ginning, he said: that bimetallism for Eng
land was out of the question. India was
England, and ali other PROPOSALS were in
significant In comparison with that respect
ing the reopening of the mints of India to
repeal of the order permitting gold to be
paid for government dues and to be ex-
changed for government rupees"
Reopening of Indian MINIS.
Mr.. wolcott spoke at some length upon
the conditions in India, explaining the value
Of the rupee since the closing of the minis
to silver in 1893. The closing of the mints
had h said. created wide dissatisfaction
and there was a general impression that
the Indian government would be glad to
Many English mono-metallists of wide
taken one he said. land would be glad
to see the India mints reopened, If it could
be done without stimulating the cause Of
action. There was q. general opinion not
limited to England that the Indian gov
rnmen would be Quick to avail itself Of
would welcome another International at
tempt toward bimetallism that would raise
the value of silver and would be glad to
cooperate in such an attempt. This belief
found expression in the speech of the chan
cellor of the excheQuer of March II, and
/ am sure that 1 violate no confidence when
l say that the answer of the Indian gov
eminent protesting against reopening India
minis was as much a surprise to the Eng
to us. While the protest was not final and
while the English government in London
could have overruled the objections from
India, yet such actions would have been
contrary to all precedent. AS a matter of
fact, the home government, it is said.
unanimously upheld the report: FREQUENT
answer of India was dictated from London.
at may be that the blind and unreasoning
my suggestion of contributors or conces-
sions to any international settlement of the
currency question which should recognize
silver. and which threatened a panic and
the overthrow of any ministry which at
tempted it, may have rendered the reply of
the Indian government not wholly unwel-
come; but the policy outlined in the letter
of September is. signed by the viceroy and
his associates, must stand as the deliberate
and u~ninfiuenced judgment of that gov
eminent.
Indian Situation InexplfcabIe.
ITO rs Mr.. Wolcott continued. 1.-The In
dia situation is inexplicable. Millions of
people, most of them extremely poor, lave
for years invested all their savings in sill
yer. These Accommodations a few years ago
and more. To-day they are worth less than
half that sum. By the closing of the Indian
minis and the artificial gold value given to
silver. India is at a great disadvantage with
the %neighboring countries, the exports of
which are stimulated by the higher pre-
MUM on gold, and they are robbing India
trade. The present policy infiicts upon In.
dia as well the evils of an insufficient and
steadily lessening currency, evils which the
vicissitudes Of that dependency during the
past twelve months have served to empha-
"The world has heard much Of the famine
in India and of the great funds subscribed
for its victims. 1t has not been, however,
so generally known that the famine was
one of money rather than food: that the
contributions were chiefly forwarded to In
that during the whole period of the fam
inc rice was abundant where men were
starving and its price was but a trife
over a cent a pound, less than the price of
wheat in England. For all these evils the
loss in the value of the savings OF the peo-
pie. the disadvantage of a different pur-
chasing value for silver in India from
that which prevailed in China, the evils of
enormous injury which suffers
through violent fluctuations in the rate of