The age-herald., 1898-01-18

l value for silver in India from that which l prevailed in China, the evils of an insuffl- cient volume of money and the enormous | injury which commerce suffered through the violent fluctuations in the rate of ex- change, we offered what we believed to be a remedy Our offer was refused, and the refusal must be considered as final until the failure of the experiment upon which the Indian government has entered shall be demonstrated.
 MT. Wolcott next enumerated the obsta- cles with which the commission had to contend, in which included the remarkable drop in the price Of silver. the concident tariff legislation in the United States and the statements of New York 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 blmetalIism was dead
 Useless to Count on England.
 MT. Wolcott summarized the present situ- ation by saying that it is apparent that for the time being 1t is useless to count on any cooperation from Great Britain to- ward a bimetallic agreement, and that while France actively desires to see silver restored to old position as a standard of value equally with gold, she insists that the problem is one which demands inter- national action and the cooperation to an adequate extent of other leading commer- cial nations.
 Questions of possible future negotiations between France, the United States and other countries and the question of change of ratio are for the moment held in abey- for iofp action, France owes no further duty to us. 'It is my sincere conviction" he said. that an international bimetallic agreement is still feasible, by the terms of which cer- tain countries will join us and open their hints to the unlimited coinage of silver, and others will contribute to the plan of l the enlarged use of that metal as money; and I say this 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."
 He thought it might be necessary to change the ratio to something like 20 to 1.
 Referring to the attitude of Secretary Gage on the financial question, contrasting it with the presidents position, he said of Secretary Cages remarks upon his cur rency bill:
 Jumps on Gage.
 "The two statements are utterly at vari- ance and contradictory to each other. They cannot be reconciled. This is not the proper occasion to analyze the bill of the secretary. It will reach limbo long before it reaches the senate. But do not intend to discuss the bill which the presidents mes- sage specifically does not indorse; and 1t is premature to criticise the secretary's re- pubicanism, for his advent into the party and the cabinet were practically contem- poraneous. We must accept the situation. In my opinion the great majority of the members of the republican party are bi- metallists, and the fact that they are mis- represented by cabinet officer is not pleasing but 1t is endurable. The selection of the members of his official household Is | the presidents own affair. and so long as he stands upon the question of bimetallism l where he has ever stood, there is no serious ground for apprehension. But even in the | inconceivable event that the chief magis- trate of this people should in the exercise of his judgment determine to countenance the final fastening upon this country of the burdens of the gold standard, I trust we may still find warrant for faith and
 
 wisdom of its councils. We will cross our bridges when we come to them. The time when this country will submit to the final imposition of gold monometallism is far away
 MT. Wolcott concluded his speech at 2:05 D. m, having spoken for one hour and fifteen minutes As he sat down there was a burst of applause throughout the cham Der, and for several minutes he was sur rounded by his colleagues, who desired to tender him their congratulations.
 Mr. Allen of Nebraska, desiring to speak upon the resolution which had been the basis of MT Wolcott's remarks, asked that the resolution be read
 Mr. Lodge of Massachusetts demanded the regular order, which was the immigra- ton bill, and as he was sustained in his demand by the vice-president, MT. Allen said that as he had the floor he would speak upon that bill
 Mr. Hoar of Massachusetts announced that he would be compelled to leave the chamber, and requested MT. Allen to yield him a few minutes for some remarks upon the bill. The request was granted. MT. Hoar spoke ln favor of the bill. Indispensable Feature. Mir. Spoofler of Wisconsin, while support ing the general character of the bill, point ed out feature, he said, which was inde- fensible, namely that requiring an mmi- grant to both read and write portions of the United States constitution. Rather than support the provision requiring the immigrant to write, as well as to read, he would be compelled to vote against the bill.
 At the conclusion of Mir Spooner's re- marks an agreement having been reached by the Wisconsin senator and MT. Lodge, in charge of the measure. that MT. Spooner should draft an amendment providing that steamship companies should take back to Europe the wife and children of an immi- grant who failed to meet the requirements of the proposed law. MT. Lodge spoke briefly in support of the measure. He de- clared that the opposition to the bill had been stimulated by the German steamship
 but ffr u-c-