The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1895-06-24
BINEFALLISN
A Memorial to be Presented to the
British Parliament.
INTERNATIONAL ACTION NEEDED.

The Document, Which is Being Numer.
ously Signed by Leading English Bank.
ers, Merchants and Manufacturers, DE.
clares the Single Standard a Failure.
LONDON, June PA bimetallic memo
rial to parliament has been unanimously
signed by numbers of leading bankers,
merchants and manufacturers doing bust
ness in the east II first refers TO the re.
cent anti-bimetallic memorial in which il
says bimetallism is justly described as o
growing agitation. 1t then proceeds tc
relate that instead of the commercial su.
premacy of Great Britain and the financial
ascendency of London having been estab-
lished since the change in the currency in
1916 it was Achieved before then. More
over, up to nearly sixty years after 1916 the
business of the world was conducted under
the dominating influence of the bimetalliC
system. The experience of recent years
has shown that British commercial pros
perity 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
subsequent attempt, for the first time in
history, to conduct the business of the
western world on a gold basis, was fol
lowed by a wide and increasing diver.
gence in the value of gold and silver,
which hindered trade, and progressive
fall in prices, which seriously injured in.
dustrial undertakings Contracts have
been disturbed, the burden of the debtor
increased and property decreased, with a
resulting loss Of capital embarked in in
dustry ond the 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
merce the burden of indebtedness borne
by the colonies and India, and the fact
that 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 cooperate
with foreign nations in endeavoring to
achieve it,
"The experience of history. the teach
ings of science and the conclusions of au.
thority, as expressed by the unanimous
report of the gold and silver commission,
unite in supporting the opinion that the
relative value of the metals could be main
Jdlueu unuef DllnebhlllSm. Inc recent
statements on behalf of the French gov
ernment, the resolutions of the German
reichstag and the state council of the
Prussian diet and the emphatic declara-
tion of the United States ia favor of inter
national bimetallism are proofs of their
desire to join Great Britain in 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 prophetic but
unsupported assertion of harm to indus
try and commerce to deter them from
hearty cooperation with the other powers
in such measures as seem desirable for Sc
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-
tion of the house of commons passed on
Feb 26.
This motion was introduced in the
house Of commons by Mr.. Robert L. Ev-
erett, Liberal member for the Woodbridge
division of Suffolk, and was as follows:
THAT the house regards with increasing
apprehension the constant fluctuation and
the growing divergence of the values of
gold and silver, and heartily concurs in
the recent expressions of opinion of the
governments of France and Germany in
regard to the serious evils arising there
from"