The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1895-06-24
FAVOBlNG BllIEIALLlSM
INTERNATIONAL ACTION NEEDED.


The Document. which is Being Numsr-
ousiy Signed by Leading English Bank
srs, Merchants and Manufacturer, De-
ciares the Single Standard n Failure.
LONDON, June ga bimetallic memo.
rial to parliament has been unanimously
signed by numbers of leading bankers,
merchants and manufacturers doing bust
ness In the east. 10 fret refers to the re-
cent anti bimetallio memorial in which 1t
says blmetallism is justly described as
growing agitation. 1t then proceeds to
relate that Instead of the commercial SUI
premacy Of Great Britain and the financial
ascendenoy of London having been estab-
lished since the change in the currency in
1915, ID was achieved before then. More
over, up to nearly sixty years after 1915 the
business Of the world was conducted under
the dominating influence of the blmetallio
system. The experience of recent years
has shown that British commercial pros
rerity during this period was due to the
universal effect Of the bimetallic law, and
not to the operation of our single stand
ard. The memorial proceeds:
with the abandonment of bimetallism
our immense advantages disappeared. The
history, to conduct the business Of the
western world on a gold basis, was fol-
lowed by q wide and increasing diver
gence in the value of gold and silver,
which hindered trade, and a progressive
fall in prices, which seriously injured in
dustrial undertakings. Contracts have
been disturbed the burden Of the debtor
Increased and property decreased, with o
resulting loss of capital embarked in in
dustry end tho employment of the work
ing classes. These are matters Of grave
| and serious Importance, which should COM
mand attention.
'In view of the vastness of British COM
meroe the burden of Indebtedness borne
by the colonies and India, and the fact
thnt there are three distinct systems Of
currency within the empire, no people In
the world are more interested in the es-
tablishment Of bimetallism than Great
Britain, which ought heartily to CO. operate
with foreign nations in endeavoring to
achieve IT,
"The experience of history, the teach
ings of science and the conclusions Of au.
thorlty, as expressed by the unanimous
report Of the gold and silver commission,
unite in supporting tho opinion that the
relative value Of the metals could be main.
tained under bimetallism. The recent
| statements On pehal1 OF inc french gov
eminent, the resolutions Of the German
reiohstag and the state council of the
Prussian diet and the emphatic declara-
tion Of the United States in favor OF inter
national bimetallism are proofs of their
desire to join Great Britain In a serious
endeavor to accomplish this end
"In the presence of the evils which can
not be denied we hope that the govern
ment will not suffer Hypothetical dan.
ger to special interests or a prophetic but
unsupported assertion of harm to indus
try and commerce to deter them from a
hearty co. operation with the other powers
In such measures as seem desirable for So
curing fixed par of exchange for the two
metals and a more stable standard OF
value than we now possess, and we re-
spectfully ask you to adhere to the resolu.
ton of the house of commons passed on
Feb 20.
''This motion was introduced In the
house Of commons by Mr. Robert L. Ev-
erott, Liberal member for the Woodbridge
division of Suffolk, and was as follows:
"That the house regards with increasing
apprehension the constant fuctuation and
the growing divergence of the values OF
gold and silver, and heartily eoncurs in
t the recent expressions of opinion of the
governments of France and Germany in
regard to the serious evils arising there
| from