The Red Cloud chief., 1898-01-21

" ''t
the loss in value Of the savings Of the
people, the disadvantage of a different
purchasing value for silver in India
from hat which prevailed in China,
the evils of an insufficient volu me OF
money, and the enormous injury
which m uffers through vio-
lent fluctuations In the rate Of ex-
change, we offered what we believed
to be n remedy. Our offer was re-
fused, and tho refusal must be consid-
cred as final until the failure of the
experiment upon which the India gov
eminent has entered shall DO demon
strated."
THE COMMISSIONS BAD LUCK.
Mr.. Wolcott next enumerated the
obstacles with which the commission
had to contend, In which he included
the remarkable drop in the price of
silver. the coincident tariff legislation
In the United States and the state.
ments Of New York bankers in Eng
land, who, he said, sought ac-
cess TO tho English officials and
treasured them that my sentiment
which had formerly existed in the
United States in favor Of bimetallism SIN,
was dead. Other statements made by
the bankers, according to Mr.. Wolcott,
were the following: That the mission
was sent solely as q sop to a few far
Western Republicans; that the coun-
try generality favored tho gold
stand ard and that the presi-
dent Of the United States shared
this view. 1.-THE statements were,"
Nj. Wolcott said, ''of course un.
true, but In support Of them these
people assumed to present interviews
and statements of the director Of the
mint, q hold-over from the last admin.
istration, the late comptroller of the
currency, an equally precious legacy,
now out Of the public service and
transplanted to . Chicago bank; and
pretended statements In letters
and interviews from the secretary
Of the treasury to the effect that
there was no chance for inter-
national or other b~imetallism and
favoring the permanent adoption of
the gold standard. Nobody in Europe
cared q 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 q different matter.
We insisted that the letters must be
forgeries and the interviews fictitious
and trust they were, for it was in
conceivable that a meE Der of the cab.
met would seek to undermine the eff
forts OF a mission appointed by the
President and whose efforts he was
cordially aud ~zealously s%econding.
THE SENATOR WITHDRAWS.
1T is my sincere conviction that an
international bimctallic 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 ia
tho plan al enlarged use of that metal
us money; and l say this the more
freely because I shall give way upon
the commission to some body more
fitted for such negotiations and better
able to give them his constant time
A RAP AT MIR. GAGE.
"When Congress convened on the
nth of last month the President In his
references to the subject of interna'
tional b~imetallism, spoke earnestly
aud a~nxiously of his desire to see an
international bimetallic agreemen,
consummated."
Within u fortnight continued the
Senator, nothing having interviewed tc
change conditions, the secretary Of
the treasury had made statements ut
terly at variance with the Presidents
Mr.. Wolcott quoted Mr.. Cages re-
marks on the currency bill before the
Congressional committee.
This Is not the proper OCCASION,
said the senator, ito analyzs
the bill Of the secretary OF tn,
treasury. 1t will reach limbo
long before 1t reaches the senate
lie proposes to capitalize the pre-
MUM on our bonds sold recently
and to make them, with others I,
be issued, a security definitely
payable in gold. He forgets tina
only a few months ago when the coun
try was In dire distress we we're com
PEELED to pay 50, ooo, 100 for the priv
lego of keeping the word gold out o
some OF these very bonds He ough'
not to forget, for the bank of which
he was president got, II Is said, som
of the bonds and received some of tn,
proceeds OF hat deplorabl
transaction. But ! do not intend 4
discuss the bill which the President
message specifically does not indorse
aud 1t is premature to CRITICS
tho Secretary's Republicanism, TO
his advent into the party IN
the cabinet was practically cor
te~mporaneous Ne must accep
the situation. In my opinion tn
great majority Of the members OF tn
Republican party are bimetallist.
and the fact that they are misreprs
sented by q cabinet officer Is nc
!. pleasing, but IL Is eudurable. The Sc
lection OF the members OF his oficis
household Il the p~rbsident's own n