The weekly intelligencer. [volume] (Lexington, Mo.) 1891-1901, 1898-01-22
SENATE HEARS WOLCOTT
He Tells of the Bimetallic Commits
sion's Trip to Europe.
Commission Was Wen Treated In France
and England. bnt Newspapers We're
uostIIe-Says international
Action Il Not a Myth.

| WASHINGTON. Jan. is.-The feature
OF yesterdays proceedings in the senate
was speech by Mr. Wolcott about his
labors in connection with the bimetal-
lie commission and embodying his re-
tirement from that body. lie intro
duced his subject by saying that he
WAS glad to make a statement respect
ing certain phases of the work of the
recent bimetallic commission, but in
doing SO he spoke unofficially mot
committing his associates in the
slightest degree, either TO his opinions
or deductions" He detailed at some
| length the joint negotiations on the
! part of the American commissioners
and the French ambassador in En-
| gland. A first, he said, there seemed
| but few difficulties in the way, and he
| quoted the resolutions of the house of
| commons and the utterances of Mr..
Balfour and Sir Michael Hicks-Beach
of March II, 1896. Said the senator:
We were not. therefore. lntruders- We could
present ourselves with the certainty OF that re-
| eeption which must follow direct and open in
vitation. And the welcome We had the right
to expect we received. From the day we
reached England until we left 1t finally In Oc-
tober. our oficial treatment was everything
y
in terms. asked the French ambassador and
| ourselves to suggest wherein, In our opinion.
England could materially contribute to solu-
tlon OF the question md at the same time re-
| tain for her own people the gold standard; and
what are termed proposals" were not volun-
teered. but were made by way OF suggestion at
the explicit request Of the English ministry.
When they were received they were treated
with full consideration, rs were the representa-
tives of the two governments conducting the
negotiations
The newspapers of London, like the newspa-
pers of many OF the capitals or the world, are
dominated by and allied with the banking ele-
ment and reflect their Views. and often their
expressions The business of money loaning Is
an eugrossing pursuit, not always tending. TO
the cultivation OF the amenities of life, and 1t,
Is not TO he wondered Mt that the London news
papers, volctng that industry, 1ould In their
hostility TO pallcy OF which they dtsapprovett,
forget for the moment that courtesy which Is
due TO the stranger within the gates, especially
when he comes upon Invitation, and that they
should be led 10 characterize proposals as i'm
pertinent" which were made only upon the re-
quest OF their own government
1t was perfectly realized from the beginning
that bimetalIism for England was OUT of the
question. India was the vital point of all the
negotiations with England and all other pro-
posals were Insignificant In comparison with
that respecting the reopening OF the mlnts Of
India TO the unlimited coinage of silver and the
repeal OF the order permitting gold to be paid
for government dues and 70 be exchanged for
government rupees
Many English monometalllsts OF wide influ--
ence believe the policy to be a mistaken one
and would be glad to sec the India mints re-
opened, II It cou.d be done without stimulating
the cause OF bimetallism and ns a separate and
distinct action. -.-:.~
Mr.. Wolcott next enumerated the
obstacles with which the commission
had to contend, in which he included
the remarkable drop in the price of sill
&I. o,-sf 10 rte1e y f,1r, r.
the United States and the statement
of New York bankers in England, who,
he said, sought access to the English
officials and reassurcd them that any
sentiment which had formerly existed
in the United States in favor of bi.
metallism, was dead. Other statements
made by the bankers, according to Mr..
Wolcott. were the following: That
the mission was sent solely as a sop TO
q few far western republicans; that
the country generally favored the gold
standard and that. the president of the
United States shared this view.
Questions of possible future negotia-
tions," continued Mr.. Wolcott. "be-
tween France and the United States
and other countries, and the question
of change of ratio are for the moment
held in allegiance.
Mr.. Wolcott then announced his in |
tention to retire from the commission
and continued:
It Is my sincere conviction that an interna-
tional bimetallic agreement Is still feasible. by
the terms OF which certain countries Will join
us and open their mints TO the unlimited coin
age OF silver. and others will contribute to the
and say this the more freely because shall
give way upon the commission to somebody
more fitted for such negotiations and better
able to give them his constant tina. This re-
suit cannot be brought about without the ,ex-
pendfture OF both time and patience and the
persons intrusted with the duty OF negotiation
must have back OF them the hearty support or
the president and congress.
The senator then wound up as fol- |
lows:
Whatever differences OF opinion may exist as |
to the ability of this country alone to maintain |
the parity between silver and gold there Is no |
question that the concurrence of other nations /
would help and not hinder, the cause of bimet- |
nllism In the United States, and Efforts TO Sc |
cure It ought to receive the cordial support OF |
every citizen who Is opposed TO gold monomet- |
allism. International bimetalliSm is not |
myth chimera, The people OF Europe are. |
even as we are struggling TO keep their heads |
above water and seeking bfindly for that which |
may make fer prosperity and for progress
Much OF the recent legislation In Europe |
looking TO the increase OF gold holdings and the |
Of silver ands It's origin In the ex-
igencies OF q situation where readiness for war
Is the paramount necessity There is hardly
statesman in Europe who believes the last |
word has yet been said upon the question or
the reconciliation OF silver. ana hardly one |
who would not welcome an EFFORT to settle the |
question internationally. Only few days ago, !
Just before Christmas. In a debate In the French |
chamber, NJ Meline again declared from the
tribune that the French government was alone
with the United States on the question OF BIZ
metnllism
In the face of such declaration. IL Is Us
cowardly 10 abandon hope as IL Is false TO talk
about failure. international bimetallism Is TO
the gold monometallists q stumbling block and
10 the silver nlonometallists foolishness. but II
Is nevertheless splendid possibility; its ac-
complishment 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 ond the chickering's OF fac