The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-18

Mich.
ium and they are robbug England of
much of her manufacturing and export
trade.
The present policy inficts upon India
as well the evil of an insufficient, as well
as steadily lessening currency, evils which
the vicissitudes of that dependency dur
ing the past twelve months have served
to emphasize. The world has heard of
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 of food; that the contributions were
chiefly forwarded to India in the form of
money, and not grains, during the whole
period of the famine. Rice was abundant
where men We're starving, and it's price
was a trifle over a cent pound, less than
the price of wheat in England For all
these evils, the loss in the value of the
savings of the people, the disadvantage of
a inherent purchasing value of silver
in India from that which prevailed in
China, the evils of an insufficient volume
of money and the injury which commerce
suffered through violent fluctuations in
the rate of exchange, we offered what we
believed to be a remedy. Our offer was
refused, and the refusal must be consid-
cred as final until the failure of the ex-
pertinent upon which the India govern
Elent has entered shall be demonstrated.
Mr.. Wolcott next enumerated the obsta-
cles with which the commission had to
contend, in which he included the remark
able drop in the price of silver, the coin
cident tariff legislation in the United
States and the statements of New York
bankers in England, who, he said, sought
access to the English officials and as
sured them that any sentiment which had
formerly existed in the United States in
favor of bimetallism was dead
Mr.. Wolcott summarized the present sit
uaion by saying that it is apparent that
for the time being it is useless to count
on any cooperation from Great Britain
towards bimetallic agreement, and that
where France actively desires to see sill
Ver. restored to her Old position as "a stan
dard of value equally with gold, she in
sists that the problem is one which de
mands international action and the CO.
operation TO some adequate extent of the
great trading commercial nations of the
world.
1t is possible that there will be further
negotiations between France, the United
States and other countries on the question
of a change in the ratio, though they are
for the present held in allegiance
eve hope for joint action, but France
owes no further duty to us.
MY sincere conviction" he said, lis
that a bimetallic agreement is feasible by
the terms of which European countries will
ioin US and open their minis to the unlim-
tied coinage of silver, and others will con-
tribute to the pan for the enlarged use of
that metal as money; and l say this 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"
He thought it might be necessary to
change the ratio to something like 20 to l.
Referring to the attitude of Secretary
Gage on the financial question, contrasting
it with the Presidents position he said.
"The two statements are utterly at va
rance and contradictory to each other
They cannot be reconciled. This is not the
proper occasion to analyze the bill OF the
Secretary 1t will reach Limbo long before
it reaches the Senate. But | don't intend to
discuss the bill which the Presidents mes
sage specifically does not criticize; and it is
premature to criticize the Secretary's re-
publicanism, for his advent into the party
and the cabinet is only recent. We must
then accept the situation. In my opinion
the majority of the senators of the Repub-
lican party are bimetallists and the fact
| that they are msrepresented by the caDl-
! net officer is not pleasing but IL is endur-
! able The PRESIDENT selection of the MEM
IpNrNAACAN'
| affair. and as long as he stands on the
! question of bimetalisln. where he has AL
WAYS stood there is no serious ground for
| apprehension. But even in the inconceiVa-
| bic event that the chief magistrate of this
| people should in the exercise of his Judg-
| ment determine to countenance the maj
! fastening upon this country Of the burdens
| of the gold standard, l trust we may sun
| find warrant for faith and hope in the
pledges of the party and the wisdom of its
| counsels. We will cross our bridges when
we come to them. The time this country
will submit 10 the final imposition of gold
| monometallism is far away
Mr. Wolcott concluded his speech at 2:O5
| O'Clock having spoken for an hour ana
| fifteen minutes. As he SAT dawn tnefe was
an outburst of applause throughout the
chamber. and for several minutes he was
surrounded by his colleagues, who desired
| 10 tender him their congratulations.
| Mr. Allen of Nebraska desiring to speak
ON The resolution which had been the basis
! of Mr.. Wolcotts remarks, asked that the
| resolution be read. $1,000. 4.
Mr. Lodge of Massachusetts, demanded
! tbo regular order, which was the imhll-
| 49,, ion hin. and as he was sustained IN
! e. demand bv the Vice President, Mr.. Al
- s.ojd he had the floor and would speak
| oi ~. IIoar of Massachusetts said that he
! IA been compelled to leave the chamDer
nad reouested that Mr.. Allen yield the
a,lo 81 him to make some remarks on the
hi The request was granted, and Mr.
Toer spoke for the pliL hit ,,D
Mr.. spooner of Wisconsin Visions, VINE fbe SUP biI
portlns o,,t a feature which. he said. was
polnseu ellie namely, that recurring an i'm
lna ipenf both TO read and write portions
migranI, -, D states constitution. Rather
OF d., tne support port the provision requiring the
IMMIGRANT to write as well as to read ne ne
,Tnuld be compelled to vote against 'iis
! bill. ,.,o, Of Mr. spooner's re-
Al .n a., agreement had been reached by
ma WISCONSIN senator, and Mr. Lodge, IN
the w ~ he measure. that Mr.. Spooner
CllII - - dfllarlf nrONlQlnE LIdL