Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-01-17

of the money lender is potent in almos,
every capital Of the world. and dominates
courts and national policies, the ministry
of France stood fearlesSly by the interests
of the whole people and counted the well
fare Of its hundreds of thousands Of small
holders of land dependent for their exist
ence upon the fruits of the SOIL as para
mount to that Of the powerful class which
wants money dear and grain cheap"
Here Mr.. Wolcott announced his inten-
| ton to retire from the commission He
said 1T 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 mints
| to the unlimited coinage of silver. and
others will contribute to the plan an en-
larged use of that metal as money land say
| this the more freely because I shall give
| way upon the commission to somebody
more fitted for such negotiations. and bet
| ter able to give them his constant time.
This result cannot be brought out without
| the expenditure 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 or of Con-
gress."
He thought 1t might be necessary to
| chahSe the ratio to something like 20 to 1.
Secretary Gage VS.. the President.
| At this point he referred to the attitude
of Secretary Cage on the financial ques-
| ton. contrasting it with the Presidents
position. his words on this point being
| as follows:
| when Congress convened on the It'll of
| last month the President In his references
| to the, subject of International bimetallism
| spoke earnestly and anxiously of his de-
sire to see an international bimetallic
| agreement consummated His assurances
| gave renewed hope to bimetalists all over
| the country. and seemed final and con-
| elusive answer to those who had claimed
| that the President not in earnest
| in his efforts toward international btmet-
| allism. For myself l needed no such proof
| l had again and again been made to know
how genuine was the Presidents devo-
| ton to this settlement of the vexed cues
| ton. Within fortnight after this, with
| no event meanwhile which would change
| existing conditions, the Secretary of the
| Treasury, in support of a bill which he
| has prepared respecting the currency said
as follows to committee of Congress.
| (Here he quoted the remarks of the Sec
| rotary of the Treasury. in which he show
| ed the necessity for maintaining the gold
standard)
THE two statements are utterly at va
| Rance" he continued. land 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.
| He proposes to capitalize the premium on
| cur bonds sold recently and to make them
| with others to be issued a security def
nitely payable in gold. He forgets that
| only few months ago. when the country
| was In dire distress. We We're compelled TO
| lege of keeping the word gold out of some
of these very bonds He ought not to for
get, fer the bank of which he was presi-
| dent got. it is said. some of the bonds and
| received some OF the proceeds of that de-
| Dlorable transaction. But l do not intend
to discuss the bill which the Presidents
| message specifically does not indorse, and
| it is premature to criticise the Secretarys
republicani5m for his advent into the
party and the cabinet were practically con-
temporaneous We must accept the situa-
ton.
Republicans Misrepresented.
"In my opinion, the great majority of the
members of the republican party are BIZ
metallists, and the fact that they mis-
| represented by 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
| bimetallism, where he has ever stood.
| there Is no serious ground for apprehen-
| sion. Butseval in the Uncomfortable event
| that the chief magistrate of this people
| should, in the exercise of his judgment,
| determine to countenaIrce the final fasten-
| irg upon this country of the burdens of
| the gold standard. l trust may still
| find warrant for faith and hope in the
| pledges of the party and the wisdom of Its
| CounSeis. We will cross our bridges when
we come to them. The time when this
| country will submit to the final imposition
| of gold monometallism Is far away
! .'r-- Future of Bfmetn Ilfsm.
Continuing his presentation of the de-
| STABILITY of International agreement,
| which had been depressed from to refer to
I the Secretary of the Treasury, Mr.. Wolcott
| said: "Whatever differences of opinion may
| exist as to the ability of this country to
| maintain alone the parity between silver
ard gold, there is question that the
| concurrence of other nations would help
| hinder he pfs n; Inn. r,lI in
| the United States, and efforts to secure 1t
ought to receive the cordial support of
| every citizen who is opposed to gold mono
| metaIlism. International bimeta,lism is not
! a myth, a chimera. The people of Europe
| are. even as we are, struggling to keep
| their heads above water, and seeking blind
| ly for that which may make for prosperity
| ard for progress.
Much of the recent legislation in Europe
| looking to the increase of gold holdings
| and the depreciation Of silver. finds its Cri-
| gin in the eXigencies of situation where
| readiness for is the paramount heces-
| slty. There is hardly a Statesman in
| Europe who believes the last word has yet
| been said upon the question of the remoae-
tization Of silver, and hardly one who
| would not welcome an effort to settle the
| question internationally. Only few days
| ago. just before Christmas, in debate in
the French chamber NJ MeIine again de-
| cared from the tribune that the French
| government was at one with the United
| States on the question of oimetaliisrn. In
the face of such declaration, it is as
| cowardly to abandon hope as il is false to
| talk about failure. International bimetal-
| Hsm is to the gold monometallist a Stun
| bling block and to the silver :nonomet allist
foolishness. but it is. nevertheless, splen-
did possibility; its accomplishment would
| be the greatest blessing that could befall
| our people, and to achieve it we might well
| afford to sink for the time the hostilities of
| party and the chickering's of faction"