New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1898-01-19

GuaI IL was dlSgrace to our country
that we were permitted to invite other
countries to join US in opening the
minis; that it was humiliating that we
were even consulting any other coun-
try on the subject; that failure was
inevitable, and the sooner we came
home the better.''-
"Au OF these occurrences, however
disturbing as 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"
Mr.. Wolcott summarized the present
situation by saying that it is apparent
. that fo2 the time being it is useless to
count on any cooperation from Great
Britain towards bimetallic agreement,
and that while France actively desires
silver restored to it's old position as
standard Of values, equally with gold,
she insists that the problem is one
which demands international action.
and the cooperation to some adequate
extent of other leading commercial ma
tions Of the world.
Question of Future Negotiations.
"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 abeyance. While we
hope for continued joint action, France
owes no further duty to US. She stood
shoulder to shoulder with US in our at.
tempt to secure from England even the
concessions she voluntarily offered
few months ago. In days when the
influence of the money lender is potent
in almost every capital of the world,
and dominates courts and national pol
icies, the ministry of France stood fear
lessly by the interests of the whole PEG.
pie, and counted the welfare of it's
hundreds of thousands of small holders
of land dependent for their existence
upon the fruits of the soil, as para
mount to that of the powerful class
which wants money dear and grain
Cheap
Will Retire From the Commission.
Here Mr.. Wolcott announced his in
tention to retire from the commission.
He said:
international bimetallic agreement is
still feasible, by the terms Of which GER
tain countries will join US and open
their minis to the unlimited coinage of
silver, and others will contribute to the
plan Of enlarged use of that metal as
money; and I say this the more freely
because shall give way upon the CON-
mission to somebody more fitted for
such negotiations, and better able to
give them his constant time. This re-
suit cannot be brought about without
the expenditure of both time and pa
tience, and the persons entrusted with
the duty of negotiation must have back
of them the hearty support of the pres
ident and of congress.
He thought it might be necessary to
change the ratio to something like
20 to /.
The Attitude of Secretary Gage.
At this point he referred to the atti-
tude of Secretary Gage on the financial
question, ntrasting it with the presi-
dents position.
He again emphasized the president S
devotion to the cause of international
bimetallism, and regretted that it is
necessary for the administration to be
so misrepresented. The bill which Sec
rotary Gage had formulated it was not
necessary to discuss. because the bill
would reach limbo long before it
reached the senate. It was also pre-
mature to criticize the secretary's Re.
publicanism, for his advent into the
party and the cabinet was practically
contemporaneous. We must accept the
situation. In my opinion the great
majority of the members of the Repub-
lican party are bimetallists, and the
fact that they are misrepresented by a
cabinet officer is not pleasing, but it is
endurable. The selection Of the men,
bers. of his official household is the
presidents own affair, and so long as
he stands upon the question of bimet-
alism where he has ever stood there is
| no serious ground for apprehension.
Continuing his presentation of the
desirability of an international agree.
ment, which had been: digressed from,
| Mr.. Wolcott said:
Desirability of an Agreement.
.'Whatever differences of opinion
may exist as to the ability of this coun-
try to maintain alone the parity be.
tween silver and gold, there is no ques.
ton that the concurrence of other ma.
tons would help and not hinder the
cause of bimetallism in the United
States, and efforts to secure it ought to
receive the cordial support of every cit.
izen, who is opposed to gold monomet.
allism. International bimetallism is
not myth. The people of Europe are,
! even as we are, struggling to keep
their heads above water and seeking
blindly for that which may make for
prosperity and for progress.
international binetalism is to the
gold monometalli lists umbGng block,
and to the silver monometallists fool.
ishness, but it is nevertheless splendid
possibility; its accomplishment would
be the greatest blessing that. could be-
fall our people, and to achieve it we
might well afford to sink for the time
the hostiliti, of party and the bicker.
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