The Portland daily press., 1898-01-18

made to France, for many reasons, but
above ali because of Premier Meline's be-
lief in bi-metallism.
MIR. Wolcott then detailed at some
length the joint negotiations on the part
of the American commissioners and the
French ambassador in England. At first,
he SAID, there seemed but few difficulties
in The way. and he quoted the resolutions
of the House of Commons and the Utter
ances of Mr.. Baitour and Sir Michael
Hicks-Beach Of March II. 1896. We were
not therefore, y he continued, ''intruders.
We could present ourselves with the
certainty of that reception which must
follow direct and open invitation. And
the welcome we had we had the right to
expect we received From the day we
reached England until we left it finally
in October, our official treatment was
everything that could be desired. The
English ministry, in terms, asked the
French ambassador and ourselves to sug-
gest wherein out opinion England could
materially contribute to solution of the
question and at the same time retain for
her own people the gold standard; and
what are termed the proposals were not
volunteered and were lnado only By way
of..suggestion at the explicit request of the
English ministry. When they were re-
ceived they were treated with full con-
sideration as were the representatives Of
the two governments conducting the
negotiations.
Mr.. Wolcott admitted, however, that it
was not surprising that another view
S ould have prevailed in this country, q
view based, he said, ''on the Incorporate
and hostile and somewhat brutal utter
ances of the London press respecting the
proposals of the French and American
Representatives. The newspapers of Lon
don, like the newspapers of many OF the
capitals of the world, - he went on. faro
tod NV ND k
ing element, and reflect their views, and
their expressions"
ut was perfectly realized from the be.
ginning, he said THAT bi-metallism for
England was out of the question. India
was the vital point of all the negotiations
with England and all other proposals
were insignificant in comparison with
that respecting the reopening OF the minis
of India to unlimited coinage of silver
q I'D repeal of the order permitting gold to
pe paid for government dues and to be
exchanged for government rupees.
Mr. Wolcott spoke at some length upon
the conditions in Idnia, explaining the
value of the rupee since the closing of the
nliuts to silver in 1898. The closing of
the minis had, he said created wide dis
satisfaction and there was q general i'm
preston that the Indian government
would be glad to retrace its steps.
Mr. Wolcott than argued to show that
the re-opening of the India minis would
redound to the advantage of the peace Of
f mt country declaring that the recent fam
ne.there Was oneSof money rather than one
of food. For all these evils we offered
what we believed would be a remedy, :"
said the Senator, who continued: "Our
offer was refused and the refusal must be
considered as final until the failure of
the experiment upon which the Indian
government has entered shall be demon
strated."
Mr.. Wolcott enumerated the obstacle
with which the commission had had to
contend, in which ne included the re-
markable drop in the price of silver, the
coincident tariff legislation il the United
States, and the statements Of Kew York
bankers in England, who, be said, sought
access to English officials and assured
them that any sentiment which had former
ly existed in the United States in favor
of bi-nletallism was dead. Other state
ments made by the bankers according to
Mr. Woleott We're the following:
tsThat the mission was sent solely as a
SOD 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"
THE statements were, Mr.. Wolcott.
said, .sof course untrue, but in support
of them these people assumed to present
interviews and statements OF the director
of the mint, hold-over from the last adj
ministration, the late comptroller of the
currency, an equally precious legacy, now
ont of the public service and translated to
u Chicago bank, and pretended statements
. IN letters and interviews from the Secre-
tary of the Treasury to the effect that
there was no chance for international or
other bi-inetalljsm, and faYorlng the per-
manent 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, put the al
legged statements of the Secretary of the
Treasury were different matter Ne in
sisted that the letters must be forgeries,
and the interviews fictitious. and l trust
they were. for it was incnnceivable that q
number of the Cabinet would seek to I'M
der1nine the efforts of mission ap
pointed by the President and whose
forts he was cordially and Zealously
seconding."
Mr. WoIcott summarized the present
situation by saying that it is apparent
that for the time Icing it is useless to
count on any cooperation from GREAT
Britain towards bi-metalljc agreement
and that while France actively desires to
see silver restored to its old position as a
standard of value equally with gold, she
insists that the problem is one which de-
mands International action, and the CO.
operation to some adequate extent of
tie leading commercial nations of the
world.
Questions of possible future negotia-
tons between France, the United States
and other countries, and the question of
change Of ratio are for the moment held
In allegiance. While we hope for continued
joint action, France owes no further duty
TO us. y
Here Mr.. Wolcott announced his inten-
ton to retire from the commission. He
said:
1T is my sincere conviction that an
international bi-metallic agreement is
still feasible, by the terms of which GER
tain countries will join us and open their
mints to the unlimited coinage of silver,
aud others will contribute to the plan as
enlarged use of that metal as money; and
l say this the more freely because [ shall
give way upon the commission to some
body more fitted for such negotiations
and better able to give them his constant
tine .
lie thought it might be necessary to