The Butler weekly times. (Butler, Mo.) 1881-1918, 1898-01-20
WOLCOTT'S SPEECH.
rba Senator Tells About the Bime-
tallic Commission Trip.
THE OBSTACLES IT ENCOUNTERED.
,...r,ationaI BImetaIlism Not a Myth but
Splendid Possibility -Many European
statesmen Would Welcome Set
element of the Question.

Iyae a speech by Mr.. Wolcott about his
Iohors in connection with the bimetal-
Ito commission and embodying his re-
+;rement from that body. He intro
duced his subject by saying that he
,Y.s Glad to make a statement respect
;rg certain phases of the work of the
recent bimetallic commission, but in
doing SO he spoke unotficially mot
committing his associates in the
SLIGHTEST degree, either to his opinions
ar deductions" He detailed at some
length the joint negotiations on the
mart of the american commissioners
and the French ambassador in En-
gIand At first, he said, there seemed
hut few difficulties in the way, and he
oroted the resolutions of The house of
commons and the uttIrances of Mr..
Ralfour and Sir Michael Hicks Beach
of March II, 1896. Said the senator:
We were not therefore int.uders. We could
nresent ourselves with the certainty of that re-
ception which must follow direct and open in
ytation And the welcome we had the right
To eypect we received From the day we
coached England until we left it finally in De-
,ober our official treatment was everything
that could be desired The English ministry.
in terms asked the French ambassador and
ourselves to suggest wherein. in our opinion
tIon Of the question and at the same time
tain for her own people the gold standard; and
what are termed proposals were not volun-
tee.ed but were made by way Of suggestion az
the explicit request OF the English ministry.
When they were received they were treated
with full consideration as We're the representa-
tiyes OF the two governments conducting the
negotiations
The newspapers OF London. like the newSpa-
pers OF many OF the capitals of the world, are
dominated by and allied with the banking ele-
ment and reflect their views, and often their
expressions The business of money lOaning Is
an expressing 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 moment that courtesy which Is
due to the stranger within the gates, especially
when he comes upon invitation. and that they
should be led to characterize proposals as I'M
pertinent which were made only upon the re-
quest OF their own government
1t was perfectly realized from the beginning
that bimetallism for England was out Of the
question India was the vital point of all the
negotiations with England and all other pro-
poSals were insignificant in CONF ariSon 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
Many English mouometallistS of wide fnfiu-
ence believe the policy to be a mistaken one
and would be glad 20 see the India minis re-
opened If it could br 3cne without stimulating
the cause Of bimetallism and as separate and
distinct action
Mr.. Wolcott next enumerated the
obstacles with which the commission
had to contend, in which he included
the remarkable drop in the price of sill
yer, the coincident tariff legislation in
the United States and the statement
- l. ;Y,E
he said, sought access to the English
officials and treasured them that any
sentiment which had formerly existed
in the United States in favor of BIZ
metallism, was dead. Other statements
made by the bankers, according to Mr..
Wolcott, were the following: That
the mission was sent solely as sop TO
a few far western republicans; that
the country generally favored the gold
standard and that the president of the
United States shared this view.
Questions of possible future negotia-
tions,' continued Mr.. Wolcott, be
tween France and the United States
and other countries, and the question
of change of ratio are for the moment
held in allegiance.
Mr.. Wolcott then announced his in
tention to retire from the commission
and continued:
1t is my sincere conviction that an interna-
tlonal blmetaltlc agreement is still feaSibl by
the terms OF which certain countries will join
US and open their minis to the unlimited COIN
age OF silver, and others will contribute to the
plan and enlarged use OF that metal as money;
and say this the more freely because shall
give way upon the commission to somebody
more fitted for such negotiations and better
able to give them his constant time This re-
suit cannot be brought about without the ex-
penditure of both time and patience. and the
persons intrusted with the duty OF negotiation
must have back OF them the hearty support OF
the president and congress.
The senator then wound up as fol-
lows:
Whatever differences of opinion may exist as
to the ability OF this country alone to maintain
the parity between silver and gold. there no
question that the concurrence of other nations
would help and not hinder the cause OF bimet-
alliSm in the United States and efforts TO Sc
cure it ought to receive the cordial support OF
every citizen who is opposed 10 gold monomet-
allism- International himetailiSm i not q
myth. chimera- The people Of Europe are
even Us we are. struggling to keep their heads
above water and seeking bIindly for that which
may make for prosperity and for progress
Much of the recent legislation in Europe
looking to the increase OF gold holdings and the
depreciation OF silver finds its origin in the ex-
igencies OF 4 situation where readiness for wal
ts the paramount necessity. There is hardly ]
statesman in Europe who believes the last
word has yet been said upon the question OF
the RECOMMENDATION o; silver. ami hardly one
who would not welcome an effort to settle the
question Internationally Only d few days ago
Just before Christmas. in 4 bate III the French
chamber NJ Neliue again declared from the
tribune tha: the French government was alone
with the United States on the question q BIZ
mCtallisul
In the face o. such = declaration i i I,
cowa-dly % abandon hope n il : false - tals
about failure International biuataiiiSIa ! e
the gold uorometailistS stun bling block and
70 the silver C2ouoUet alIsrS tooii>hneSS. but Il
= nevertheless splendid possibility: is ac-
coUlpltShTneEt would be the greatest b.e~Si n
that could he:aI our Pc pIe. AMI - achieve i
~e might well AFFORD II sink. for The t3E-e- rs
ko>tlltt.e> q party and Ehe bEcksrEu-> - fac.