The times., 1898-01-18

! service and translated to Chica Pr
bank; and pretended statements in let
| ters and interviews from the Secretary
| of the Treasury to the effect that there
was no chance for International or otn-
er bimetallisn,, and favoring 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,
/ but the alleged statements of the Sec
| retary of the Treasury were a differ
ent matter. We insisted that the LET
ters must be forgeries, and the inter-
views fictitious, and j trust they We're,
Tor II was ineonceivable that a men,
! Der of the Cabinet would seek to un-
dermine the efforts of a commission
appointed by the President and whose
efforts he was cordially and zealously
seconding. We were also attacked
from time to time by statements from
extremists in the other direction, in
sistne that our efforts were sham and
pretended; that we had no hope or ex-
pectatlon of success; that the Presi-
uent was secretly opposing us; that it
was a. disgrace to our country that we
were permitted to invite other coun-
tries TO join us in open mints; that
IL was humiliatiHg that we were even
consulting any other country on the
I
and the sooner we came home the bet
ter.
III was new and somewhat ludi-
crous view of the silver question that
made it .humliating that this country
should Invite other countries like
France to join us in open mints, or
that made it unimportant to ascertain
the attitude of India with her thousand
million ounces of silver in bullion and
ornaments changing hands in the ba-
zaars at bullion value, and her five
hundred and seventy million ounces OF
silver in silver coin doing duty at the
ratio Of about % to -
Mr. Wolcott paid a high compliment
TO Senator Jones, of Arkansas, chair
man of the National Democratic Com
mlttee, who. he said. gave the project
his hearty support. though he believed
the mission would fail. Senator VOL
colt summarized the situation as fol-
lows:
England finally and explicitly re-
fuses to open English mints to silver
or TO alter her existing gold standard.
she declines to open India mints To
the coinage of silver, basing her re-
fusal specifically, first, upon the lack
OF certainty that France and the United
States could together maintain the
parity between gold and silver at the
ratio suggested: and, second, upon the
proposed ratio of 15i5 to ]. We are
invited to make any further proposals
which shall take into consideration
these objections, but it is apparent that
for the time being it is useless To count
on any cooperation from Great Brit
ain towards a bimetallic agreement.
France actively desires to see silver
restored to its old position as stand
ard of value equally with gold. She
insists, however. that the problem Is
one which demands international ac-
ton, and the cooperation to some ad-
equate extent of other leading COM
mercial nations of the world.
Whatever may be the final outcome
of an effort through methods of diplo-
macy 10 secure some international ac-
tion in favor of silver, the people of
these United States viii always remem-
Der gratefully the attitude of France
upon this great question"
Towards the close of his statement
among the assertions of Mr.. Wolcott |
were:
AN international agreement is still |
by the terms OF which certain |
will join us and open their |
mints to the unlimited coinage OF sill |
YER, and others will contribute to the |
plan of an enlarged use of that metal
as money.
America should make concessions in
he ratio, bringing it somewhere in the
OF 20 To /, more nearly
lpproximating the ratios recognized by
Russia. Austria and India
The cause Of bimetallism is not dead
in Europe. 1t is a living. vital and
growing force
When Congress met last March Pres
ident Mckinley in his message spoke
and anXiously OF his desire TO
see an international bimetallic agree
ment consummated. There is no rea-
son to conclude he has changed his
mind"
The President has never indorsed
Secretary Cages Republicanism, for
his advent into the party and the Cab
net were practically contemporaneous."
In Mr.. Wolcott's opinion the great ma
iority of the Republican party are bi-
netallists. and the fact that they are
by Gage is not pleasing.
3ut is endurable.
Mr.. Wolcott closed his statement with
hese words:
only a few days ago. just before
christmas. in a debate in the French |
hamber, NJ. Meline again declared firm
he tribune that the French govern
nent was al one with the United States
n the question of bimetailism. In the
ace Of such a declaration it is as cow
rdly to abandon hope as it is false TO
ak about failure.
international bimetallism is TO the
old monometallist as a stumbling
lock, and to the silver monometallist
but il is nevertheless a
piendid possibility: its accomplish
lent would be the greatest blessing
hat could befall our people, and to
chieve 1t we might we'll afford to sink e
or the time the hostilities of party and {
be chickering's of faction"