Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1898-01-18
Wolcott Talks of Bimetallic
Commissions Trip.
MANY OBSTACLES IN THE WAY.
He Intimated That the Attitude of the
Secretary of the Treasury Had n Bad
Effect In Europe-Internationa Bimet-
allism Feasible-Quits His Task.

to arrange for an international confer
ence, said that France readily cooper
ated with the United States in propos-
ing conference to the English govern
ment. The British government was
ready and willing, but the English news
papers, under the control of the banking
and moneymaking element, fought the
proposals Of the United States and
France.
1t was perfectly realized from the
beginning, he said, that bimetallism for
England was cut Of the question.
India was the vital point of all the
negotiations with England, and all
other proposals were insignificant in
comparison with that respecting the re-
opening Of the minis of India to the I'M
limited coinage Of silver, and the repeal
CT the order permitting gold to be paid
for government dues and to be ex-
changed for government rupees"
Mr.. Wolcot5 spoke at some length
upon the conditions in India, explaining
the value Of the rupee since the closing
of the minis to silver in 1898. The
closing Of the minis had he said, created
wide dissatisfaction and there was
general impression that the Indian gov
eminent would be glad to retrace its
steps
Even the English ministry so thought,
and when India refused, it came as
total surprise to the English govern
ment England could have overruled
this, but it was contrary to precedent.
Mr.. Wolcott next enumerated the OBJ
stacles with which the commission had
to contend, in which he included the re-
markable drop in the price of silver, the
coincident tariff legislation in the United
States and the statements of New FORK
bankers in England, who he said sought
access to English officials and assured
them that any sentiment which had
formerly existed in the United States in
favor of bimetallism was dead. Other
statements made by the bankers, ac-
cording to Mr. Wolcott, were the follow
ing: That the mission was sent solely
as sop to few far western Repubh-
cans that the country generally favored
the gold standard, and that the presi-
dent of the United States shared this
view.
1.-THE statements were," Mr.. Wolcott
said, ''of course untrue, but in support
of them these people assumed to present
interviews and statements of the di-
rector of the mint, a hold-over from the
last administration, the late comptroller
of the currency, an equally precious
legacy, now out of the public service
and translated to Chicago bank, and
pretended statements in letters and in
terviews of the secretary of the treas
ury that there was no chance for inter
national or other bimetallism, and
favoring the permanent adoption of the
clio
cared rap what the minor prophets
thought or said, as nobody in this coun-
try cares, but the alleged statements of
the secretary of the treasury were a diff
ferent matter. We insisted that the
letters must be forgeries and the inter-
views fictitious, and trust they were,
for it was inconceivable that member
of the cabinet would seek to undermine
the efforts of a mission appointed by
the president and whose efforts he was
cordially and zealously seconding.'
The commission was, he said, also at
tackled from time to time by statements
from extremists in the other direction,
'insisting that our efforts were sham
and pretended, that we had no hope or
expectation of success that the president
was secretly opposing US, that it was
y
permitted to invite other countries to
join us in open mints; that it was hu-
initiating that we We're even consulting
any other country on the subject; that
failure was inevitable, and the sooner
we came home the better 1t was new
and somewhat ludicrous view of the sill
yer question that made it humiliating
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 i'll
bullion and ornaments changing hands
in the bazars at bullion value and her
$40, 100000 ounces of silver in silver
coins doing duty at the ratio of about %
to 1. He excepted Senator Jones of Ar
kansas, chairman of the Democratic ma
tional committee from this charge, but
concluded that it was unfortunately
true that the bitterness of the last cam
paign blinded the vision of many men
so that the thing they believed to be i'm
possible they came to hope would be i'm
possible.
"All of these occurrences, however, dis
turbing as they were,o he said, ''could
not PROBABLY affect the outcome so far as
there has been up to this time an out
come of the negotiations.
Mr.. Wolcott summarized the present
situation by saying that it is apparent
that for the time being it is useless to
count on any cooperation from Great
Britain toward bimetallic agreement
and that while France actively desires
to see silver restored to it's old position
as standard of value equally with gold,
she insists that the problem is one which
demands international action and the
cooperation to some adequate extent of