The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-07-14
International Bimetallism Max
ing Substantial Progress.
ESPECIALLY IN AMERICA
Meeting of Bimetallic League
of Great Britain.
ENcot RAGING ANNUAL REPORT
Gen. Francis A. Walker Made a Speech
Reviewing the Silver Question
From the American
Standpoint.

London, July 13.-The Bimetallic
League of Great Britain held its an
nual meeting to-day in the Canon
street hotel.
The annual report declares that the
cause of international bimetallism has
made substantial progress during the
year, both in Great Britain and
abroad. 1t mentions the resolutions
adopted by the Chamber of Deputies
in France, the Chamber of Represen-
tatives in Belgium, and the Prussian
Diet, declaring for bimetallism, and
continues:
''In the United States all parties and
classes viii welcome international BIZ
metallism. A large section of the peo-
pie there are, however, so strongly
convinced of the urgent necessity for
the reconciliation of silver that they
are indispOsed to wait for interna-
tional agreement. No party of any
Importance in the United States favors
gold bimetallism."
The report concludes as follows:
''The responsibility for the present and
growing dangers to the industrial life
of the nation rests upon those who OPP
pose that monetary system under
which our prosperity advanced~ by
leaps and bounds"
A letter was read from Lord Alden
ham (Mr. Henry Hucks-Gibbs), presi-
dent of the league, in which he con-
graduates the members upon the
great success which has been made in
the United States. 1T is indeed a sur
prising fact" Lord Aldenham wrote,
''that this question, some here affect
to treat with contempt, should be, APP
parently, the main political question
before a nation of 7O,OOO,OOO people"
Lord Aldenham also alluded to what
he termed the ignorance of the Lon
don press upon this subject. "They
joined" he said, "the chorus for hon
est money! believing that these words
are applied in America to gold mono
metallism, and not, as they usually are,
to international bi-metallism. What
ever may be the result of the Presi-
Dental election" Lord Aldenham
added, "we may be sure that our
cause generally is prospering"
The meeting was largely attended.
Mr.. Robt. Barclay, of Manchester, pre-
sided. A letter of regret was read
from Mr.. A. j. Balfour, First Lord of
the Treasury, who said that only ill
ness prevented him from being pres
ent.
Gen. Francis A. Walker, of Boston,
Mass, made a speech which was
greeted with great enthusiasm. Gen.
Walker gave a review of the silver
question from the American stand
point. He said that the all-engrossing
topic at the National Republican con-
vention in st. Louis was the currency.
Gov. Mckinley, he said, was never a
gold monometallist and could not be
if he tried. Gen. Walker read the
Kohlsaat st. Louis resolution on the
currency issue and the Boston reso-
luton regarding the gold standard,
both of which were heartily cheered.
Gen. Walker continued, 'It is deep
ly to be regretted that millions of our
best citizens, as represented at the
Chicago convention last week, de-
clared for the free coinage of silver at
the ratio of 16 to /, without waiting
for the action of other countries. It
was done passionately, but the effect
will be to maintain the gold standard
unimpaired." 4
Among the distinguished gentle
men present were Lord Lidderdale, Sir
Thomas Sutherland, Mr. VIM. f. NJ.
Tomlison, NJ. p; the Hon. J.. w. f.
d. Scott-Montagu, NJ. p; Mr.. II. S.
Forster, Mr.. Moreton Frewen, Lord
Sherborne and Professors Foxwell and
l.. L. Price, and others.