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

-. AAoAh hAN AaSS
the late controller of the Scurrency. IAN
equally precious legacy, now out Of the
public service and translated to a Chicago
bank; and pretended statements in letters
and interviews from the secretary of the
treasury to the effect that there was no
chance for international or other bimetal-
lism and favoring the permanent adoption
of the gold standard. Nobody in Europe
cared a rap what the two minor prophets
thought or said, as nobody in this country
cares. but the alleged statements of the
secretary of the treasury were a differ
ent matter. We insisted that the letters
must be forgeries and the interviews fic-
titious, and l trust they were. for 1t was
inconceivable that a member of the cabin
ct would seek to undermine the efforts of
a mission appointed by the president and
whose efforts he was cordially and jealous
ly seconding."
No Lack Of "knOckers,"
The commission was. he said. also at
tackled from time to time by statements
from extremists in the other direction, I'm
sisting that our efforts were sham and pre-
tended; that we had no hope or expectation
of success; that the president was secretly
opposing US: that it was a disgrace to our
country that we were permitted to invite
other countries to join us in open minis;
that 1t was humiliating that we were even
consulting any other country on that sub
ject; that failure was inevitable, and the
sooner we came home the better 1t was
silver question that made 1t humtliating
that this country should invite other coun-
tries like France to join us in open minis.
or that made it unimportant to ascertain
the attitude of India with her thousand
million ounces of silver in bullion and or
bullion value, and her 57o.o 600. 90 ounces Of
silver in silver coins doing duty at the ra-
ito of about % to 1.
He excepted Senator Jones. of Arkansas.
chairman of the Democratic national COM
mittee. from this charge. but concluded
that it was unfortunately true that the
vision of many men SO that the thing they
believed to be impossible they came to
hope would be impossible.
turbing they were" he said did not
probably affect the outcome, so far as there
has been up to this time an outcome. of the
negotiations
No Hope of English Help.
Mr.. Wolcott summarized the present sit
uation by saying that it is apparent for the
time being it is useless to count on any CO.
operation from Great Britain towards BIZ
metallic agreement, and that. while France
actively desires to see silver restored to
it's old position as a standard of value
equally with gold, she insists that the
problem is one which demands information
Quate extent of other leading commercial
nations of the world.
Questions of possible future negotiations
between France, the United States and
other countries and the question of change
of ratio are for the moment held in abey-
anee: While we hope for continued Joint
She stood shoulder to shoulder with us IN
our attempt to secure from England even
the concessions she voluntarily otfered a
ence of the money lender is potent IN al
most every capital of the world, and DOM
i istry Of F. France eesu stood fearilessiy BY the in:
terests of the whole people and counted
the welfare of its hundreds of thousands
their existence upon the fruits Of tho soil.
as to that of the powerful class
which wants money dear and grain cheap"
to retire from the commission. He said:
1T is my sincere conviction that an IN;
ternational bimetallic agreement is stu
feasible, by the terms OF which certain
countries will join us and open their mints
to the unlimited coinage of silver, and 9th:
crs will contribute to- the plan an eniarGee
the more freely because l shall! give way
upon the commission to somebody more
fitted for such negotiations ana oet Tets apae
suit cannot be brought about without me
expenditure of both time and patience. and
gotiation must have back Of them the
hearty support Of the president and OF
congress-
Change of Ratio Suggested.
He thought it might be necessary to
change the ratio to something like 20 to l..
At this point he referred to the attitude
of Secretary Gage on the financial ques-
ton, contrasting it with the president S
| position, his words -on this point being as
follows: a. 80
last month, the president. in his references
to the subject of international bimeta!hsm,
spoke earnestly and anXiously OF MS de-
sire to see an iternational bimetallic agree
ment consummated. His assurances gave
| renewed hope to bimetalhsts all over the
| country-and seemed final and conclusive
| answer 10 those who had claimed that
the president was not in earnest IN his
efforts towards international bimetalllsm.
For myself, l needed no such proof. l had
| again and again been made to know how
genuine was the presidents devotion to
| Within a fortnight after this. with no
event meanwhile which would change ex-
isting conditions. the secretary Of the
prepared respecting the currency. said as
| follows to a committee of congress:
CHere he quoted the remarks of the Sec
rotary of the treasury.)
The two statements are utterly at va
rance" he continued, land contradictory
to each other. They cannot be reconciled.
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 to make them,
with others to be issued, a security detl-
nitely payable in gold. He forgets that
I only a few months ago. when the country
1 was IN u1Te DISTRESS, we were COHulelltu "
pay 50. GO0.G COO 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, 1t is
said, some of the bonds and received some
Ct the proceeds of that deplorable trans
action. But l do not intend to discuss the
bill which the presidents message specific
ally does not indorse; and it is premature
to criticize the secretary's Republicanism.
for his advent into the party and the cabi-
net were practically contemporaneous. We
| must accent the situation.
members of the Republican party are bi-
metallists. and the fact that they are mis-
represented by a cabinet officer is not
pleasing, but it is endurable. The selec-
ton of the members of his official house.
hold is the presidents own affair, and so
long as he stands upon the question of BIZ
metallism where he has ever stood, there
is no serious ground for apprehension.
But even in the inconceivable event that
the chief magistrate of this people should,
in the exercise of his judgment, determine
J to countenance the final fastening upon
| this country of the burdens of the gold
standard. 1 trust we. may find warrant for
faith and hope in the pledges of the party
and the wisdom of its councils. We will
cross our bridges when we come to them.
The time When this country will submit
TO the final imposition of gold monometal-
hsm is far away"
International Bimetallism Not a Myth.
Continuing his presentation of the desir-
ability of an international agreement which
L had haap d;yra,SaJ froca 80 It