New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1898-01-19
Mr.. Wolcott E l1ghtens Senators
on the Subject Of Interna-
tiOnal Bimetallism.
Story of the Negotiations With
France and England and Why
They Failed.
Secretary Gage Roasted and the
President Praised---W OlcOtt
Will Resign.

seudCe dill OIL IQo gallor1oS were well
filed some time before the senate con-
vened. Mrs. Wolcott, wife of Senator
Wolcott, chairman of the bimetallic
commission, who was to deliver a
speech upon the work of the commits.
sion, was in the diplomtic gallery with
a party of friends. Many ladies from
the various foreign legations were also
in the diplomatic galleries.
Mr.. Foraker announced that the leg
Stature Of Ohio had chosen Marcus
AlOnZo Hanna to be senator from Ohio
for the remainder of Mr.. Sherman's
term of six years, ending March 4,
1899. MIR. Hanna's credentials were
read and the oath of Office administered.
After some routine business Mr.. VOL
colt (Colo. chairman of the bimetallic
commission, was recognized for a
speech upon the work of the commits
sion. By this time the galleries and
the floor were crowded. Mr.. Wolcott
was in fine voice and spoke with only
occasional references to his manuscript,
which he had before him. He was &C.
corded the closest attention by his
auditors, among whom were many
members Of the house.
Glad to Make a Statement.
Mr.. Wolcott introduced his subject
by saying that he was glad to make a
statement respecting certain phases Of
the work of the recent bimetallic com.
mission, but that in doing so he spoke
unofficially, mot committing his asso-
ciates in the slightest degree, either to
his opinions or deductions.
He stated that the commission had
been of one mind as to the desirability
of an international agreement, and that
they had not been hampered by instruc-
lions from the administration. They
had also received great assistance from
American ambassadors abroad.
Mr.. Wolcott then detailed the nego.
tiations with France by which it was
agreed that the suject of conference
should be presented to England jointly
by that country and the United States.
They were officially received, he said
with the greatest courtesy and cordial.
ity, and their statements given full
consideration.
London Newspapers Were Rude.
Mr.. Wolcott admitted, however, that
it was not surprising that another view
should have prevailed in this country,
a view based, he said, ION the intem.
perate and hostile and somewhat brutal
utterances of the London press respect.
ing the proposals of the French and
American representatives. The news.
papers 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 ex-
pressions. The business of money
loaning is an engrossing pursuit, not
always tending to the cultivation of the
amenities Of life, and it is not to be
wondered at that the London news.
papers, voicing that industry, should in
their hostility to a policy of which
they disapproved, forget for the mo.
ment that courtesy which is due to the
stranger within their gates, especially
when he comes upon invitation, and
! that they should be led to characterize
proposals as impairment which were
made only on request of their own gov
| ernment.'
India Was the Vital Point.
cit was perfectly realized from the
beginning" he said ''that bimetallism
for England was out of the question.
India was the vital point Of the nego.
tiations with England, and all other
proposals were insignificant in compar-
ison with that respecting the reopening
of the minis 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.
The refusal Of the Indian govern.
ment to accept the proposal looking to
/ the opening of the Indian minis, he
said, had come as a great surprise, not
| only to the commissioners, but to the
| British government.
Some of the Obstacles.
Mr.. Wolcott next enumerated the
obstacles with which the commission
had to contend, in which he inclnded
the remarkable drop in the price OF
silver, the coincident tariff legislation
in the United States, and the state.
ments of New York bankers in Eng.
land who, he said, sought access tc
English officials and assured them that
any sentiment which had formerly OK.
listed in the United States in favor OF
bimetallism was lead. Other state,
ments made by the bankers, according
TO Mr.. Wolcott, were the following:
That the mission was sent solely as a
sop to few Western Republicans; that
the country generally favored the gold
standard, and that the people of the
United States shared this view
In..sted the Gage Interviews Were Bogus
While the statements" Mr.. Vol.
colt said, ''were of course untrue, these
people assumed to present in support Of
them. interviews and statements of the
director Of the mint, hold over from
the last administration, the late con.
tro.ler of the currency. an equally pre-
cious legacy, now out OF the public
service and translated to Chicago
bank, and pretended statements in let
tiers and interviews from the secretary