New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-02
INTERNATIONAL BIMETALLISM.
HENRY W. CANNoNs LETTER or REGRET II
THE LEAGUE WHICH MEETS IN LON
DON TO-DAY.

THE LEAGUE WHICH MEETS IN LON
DON TO-DAY.
TITO pire,allfc League meets in London to-day
Horny W Cannon president OF the Chase National
Bank was invited to be present as the delesa'e
from the United States. The following letter from
Mr. Cannon will be read at the League meeting
April Il. 1894
NV Dear Sir: regret that business ENGAGEMENTS
will prevent my accepting the knd lhNllatIon n Ot
YOUR Council to participate In the denonstte'oh t a
SSonfercnrr on International bimetasm to be he9
M the Mansion House, London on the 'e00"N
The Proceedings OF your meeting Will excite great
interest throughout the civilized "0IIu; on no. s,hv
neye now generally conceded that me o',,y
Tor the solution OF the silver problem rests upon
the people OF Great Britain ana the I,es tatns Of
look our GovernInent 70 sel 3,Ida whether or
silver as a money metal and TO decide W.1t'iea oT
not the minis Of the various sbe Iemoneti-
b. opened to its coinage or %hS'nea tnrnnIete and
zaton Of the white metal shall De eo'"p'''e ""N
International conferences and monetary comins
sinns composed OF the most learned anS u.s, IL
wnrd nave met during the last few years ana dis
cussed the statistics OF trade ana OF .ne pa ex
.nti I.nouestiouably, the intelligent anu "
hnuSiiye inquiries which have been made py 'n ~
various conferences and comiisSUIS yedFe Of the
i""pir and as TO the relation OF gold TO silver
I-"gH,ryt,natelv however. practical result so iar
nc tbe usc Of gold and silver as money ut"n
,P ''Ictrrminaon OF Great Britain to continue
gold monometallic nation ms uU"v &c Scr tho hest
,,,ae,s 81 mankind to both gold ana SILVER as
fin l"galtender money at Common I "a minis
it,a states has been compelled 10 closr ~ ltlo'
~ the coinage OF silver and to adopt solu i'o"o
has been charged by the opponents OF interna
ti,nat,,lisn that the United states IS par.
,ii,rv Interested in the silver question D ecaus ~
e. a large producer OF silver ana wSh'S 10 Ptt1 .
y n,rtei for that product II Is true mat me mines
- hn United states are capable or pt1uu,lnB ;'n
Oh NJ , "A no 90 20 so eOOc) ounces OF silver. bur
silyer mining with as is purely pi,1,' "hie,nr'
49, ,'btrb ~. Government has no AniAfy interest.
and has been carriri on o nS az t,I romprisng the
I'nlon and In three TERRITORIES Iak-n - -, ~ ~
"uHlrH ~ our great country. our enormous
o0rl,uifur,l manufacturing ana conlrICldl '"av, NJ,
cs,s employ the great majority OF our peogr, n,.
49,. reii an annually Increasing amount OF money
,~,ynorl, ~ transact their business ana coniuCt
thcir enterprises In this country me srn..' h,,I
ai,nn., universal that both gold ana silver Sn"u'u
he used as cSatenler money II Common r h oa,
T.. established by international agreement Oe'"ee"
the principal nations OF dhs rns q, Great Britain
in he re-osiabshmrnt OF a ratio between got ana
silver IS identical with mat o. Ihe ~ b tho sole
n"noV ~ the civilized world and II silver Is 10 De
eh,njoned as A money metal, what VIII De 'ne Sd'ue
of the Immense stock in In liza ana thc l;iSt anu ~
oil,."r rn,ns now In circulation and held by me
great banks OF Europe as basis Tor me rri'iP"n
81 outstlnling notes How can stable rate 81 ~
Grange bo fixed and maintained between gold ana
silver under existing conditions? ,-,,
/, would seem that the citizens OF Great Britain
have a greater and more vital interest in the sta
bllltv Of such exchange than any other natioh N
,hn ,rorll hv reason OF her complex and extended
britain Is willing Il suggest practical plan look
INK 10 the of both gold and silver as money on
thn Government OF the United states VIII cooperate
ana assist in every possible way In carrying out such
calcmlnble benefit to mankind
kindly convey to the Lord Mayor, your council
cnraI invitation and my regret that ] am unable
to be present a your meetnE an qear Sr ySGr'
To- Hrnfy McNiS $50 Genera Seer tary Bimealic
League London.