Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1898-01-18

Here Mr.. Wolcott announced ms in
tention to retire from the commission.
He said:
sit is my sincere conviction that an
international bimetallic agreement is
still feasible, by the terms of which
certain countries will join us and open
their minis to the unlimited coinage of
silver, and others will contribute to the
plan an enlarged use of that metal as
money; and / say this the more freely
because / shall give way upon the COM
mission to somebody more fitted for
such negotiations and better able to give
them his constant time. This result
cannot be brought about without the
expenditure of both time and patience,
and the persons entrusted with the duty
of negotiation must have back of them
the nearly support of the =. and
Of congress-"
He thought it might be neca airy to
change the ratio to something lie 20 to
/. At this point he referred to the at
titude of Secretary Gage on the finan-
cial question, contrasting it with the
presidents position.
His words on this point were as fol-
lows: when congress convened on
the 18th ~ last month the president, in
his rff les 10 the subject of l1terna-
;iaie tillism, spoke earnestly and
af17 lis desire to sec an interna-
tiei Lie agreement consum-
nat.i 4. - assurances gave renewed
hope - mi tallists al over the coun-
Try, ala. med final and conclusive
answer :. u. SO who had claimed that
the prcal6{4. was not in earnest in his
effort toward international bimetallism.
For myself | needed no such proof I
had again and again been made to know
how genuine was the presidents devo-
ton to this settlement of the vexed
question. Within fortnight after this,
with no event meanwhile which would
change existing conditions, the secre-
tary of the treasury, in support of
bill which he has prepared respecting
the currency, made a statement to q
committee Of congress.
''The two statements are utterly at
variance, he continued land contra
dictory to each other. They cannot be
reconciled This is not the proper occa-
sion to analyze the bill of the secretary.
1t will reach limbo long before it reaches
the senate. He proposes to capitalize
the premium on our bonds sold recently
and make them, with others to be
issued, a security definitely payable in
gold. He forgets that only a few months
ago, when the country was in dire dis
tress. we were compelled to pay $9,000,-
600 for the privilege of keeping the word
gold out of some of these very bonds.
He ought not to forget, for the bank of
which he was president got, it is said,
some OF the bonds and received some of
the proceeds of that deplorable transac-
ton. But [ do not intend to discuss the
bill which the president specifically does
not indorse; and it is premature to eriti-
else the secretary's Republicanism, for
his advent into the party and the cabi-
net were practically eontemporaneous
1--WE must accept the situation. In my
opinion, the great majority of the mem
bers of the Republican party are bimet-
allists, and the fact that they are mis-
represented by a cabinet officer is not
pleasing, but it is endurable. The Sc
lection of the members of his official
household is the presidents own affairs,
and so long as he stands upon the ques-
ton of bimetallism, where he has ever
stood, there is no serious ground for ap-
prehension. But even in the inconceiv-
able event that the chief magistrate of
this people should, in the exercise of his
Judgment, determine to countenance the
final fastening upon this country of the
burdens of the gold standard, trust we
may still find warrant for faith and hope
in the pledges of the party and the wis
dom of it's counsel. We will cross our
bridges when we come to them. The
time when this country will submit to
the final imposition of gold monometal-
ism is far away"