The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-18
BUT NOT AT PRESENT
THE SENATOR WILL RETIRE
FROM COMMISSION.
HANNA'S CONGRATULATIONS TELtGqANS
They Have No Parallel in History Save
the Message of PLATE to the Execu-
toner of Jesus Christ" Says
Mr.. Lewis.

Mr.. Lewis.
Washington, d. c., Jan. 1.-THE fea-
features of to-day's proceedings in the
Senate were the speech delivered by Sen
ator Wolcott, of Colorado, chairman of
the Bi-Metallic Commission, upon the
negotiations of the commission with
European countries relative to interna-
tional bi-metallism and the passage of
the Lodge bill restricting immigration
into the United States. The proceedings
were the most interesting and import
ant that have characterized any single
days work of the Senate during the
present session.
Quite unexpectedly, Senator Hanna
appeared at the opening of to-day's
session
Mr.. Foraker, the senior Senator from
Ohio. presented Mr. Hanna's credentials
for the remainder of Mr.. Sherman's
term, which will expire on March 4,
1899, and asked that the oath of office
be administered to him. Mr.. Foraker
escorted his colleague to the desk, where
oath.
At 1880 Mr.. Wolcott was recognized.
BY this time the galleries ami the
floor were crowded.
Mr.. Nolcott was in fine voice, and
spoke with only occasional reference to
his manuscript, which he had before
him. He was accorded the closest at
tention by his auditors, among whom
were p.lny members OF the House.
Mr.. n Uicott introduced his subject by
saying that he was glad to make a
statement respecting certain phases of
the work of the recent Bi-Metallic Com
mission. but that in doing so he spoke
unofficially, mot committing his asso-
ciates in the slightest degree either to
his opinions or deductions"
Later in the session. he said, 1--WE
are certain to have ample discussion on
the subject of silver, and it will prob
ably be acrid and bitter enough"
Taking up the subject of his remarks,
he told of the appointment of the Bi-
Metallic Commission.
The failures of former international
conferences, he said, made it evident
that unless some prior understanding
was arrived at with some of the CONNER
cial nations, another failure would be the
result of another international confer
ence at This time, and as France, Ger
many and Great Britain had within the
year made declarations favorable to sill
yer, it was decided to bring the subject
to the attention of these various coun-
tries, and naturally the first turn was to
France, for many reasons, but above all
because of Premier Melne's belief in bi-
metallism. In France, he said, the ques-
ton of bi-metallism was regarded as
strictly an international question, and il
was agreed that France and the United
States should unite in presenting the
question to Great Britain. He contend
ed for the Importance of the preliminary
understanding with France because of
the large per capita circulation of that
country. Had England even adhered
to her assurances of the 18th of March
1896" he said, countries representing
more than half of the total money of
Europe and the United States would
have agreed, prior TO a conference, that
upon terms to be settled at such con-
ference, they would reopen their mints
to the unlimited coinage of both gold
and silver"
1t was perfectly realized from the be-
ginning. he said, that bimetallism for
England was out of the question. India
was the vital point of all the negotia-
tions with England and all other pro-
posals were insignificant in comparison
with that respecting the re-opening of
the mints of India to the unlimited coin
age of silver and the repeal of the order
permitting gold to be paid for govern
ment duties, and to be exchanged for
government rupees.
"The answer of the India government
protesting against re-opening India
mintb, continued Mr.. WOlcOtt, was
as much surprise to the English min
istry as it was a disappointment to us.
While the protest was not final and
while the English government in London
could have overruled the objections from
India, Yet such action would have been
contrary to all precedents. AB a matter
Of fact, the home government it is said
unanimously upheld the report.
"TO u.s." Mr.. Wolcott continued, ''the
India situation is inexplicable. Millions
Of neople. most of them extremely poor.
have for years invested all their savings
in silver. These accumulations a few
veors ago were worth a thousand mil
rions Of dollars and more. To-day they
are worth less than half that sum.
"The world has heard much of the
famine in India and of the lgreat funds
subscribed for its victims. 1t has not
been however, so generally known that
tha famine was one of money rather
than foof. that the contributions were
cnruv Nowwarded to India in the form
of monep and not grain and that dur
ing the masole period of the famine rice