The record-union., 1897-10-16
NO bIMETALLISM
FOR ENGLAND.
The Government viii Maintain the
Present Standard.
Cabinet Ministers Firm in This View of
the Money Question.
The Canadian Bankers Association
Gables the Chairman of the
London Clearing Banks Indors-
ing All Opposition to BimetaI-
lie Measures.

LONDON, Oct. 15.-The Globe"
which has close relations with the
Cabinet Ministers, reiterates this af-
ternoon that the Government may be
depended upon to maintain the gold
standard inviolate, and adds:
THE views of individuals, whether
in the Ministry or in a bank parlor,
count for next to nothing"
CANADIAN BANKERS OPPOSED TO
BIMETALLISM.
NEW YORK, Oct. ia special ca
blegram from London to the Evening
Post" says:
The Canadian Bankers Association,
in view of the action here in memorial
ing the Chancellor of the Exchequer on
the silver question, has cabled at great
length to the Chairman of the London
clearing banks heartily indorsng all
opposition to bimetallic measures. The
resolution as cabled concludes thus:
They finally reiterate their convic-
ton that a double standard of value
of obligations is delusive and imprac-
ticable; that of the two standards, gold
is incomparably the most desirable,
and that the Dominion of Canada, hav-
ing all it's public obligations, private
and corporate, resting on and being so
long and honorably established on this
most solid basis, any attempt to dis
turb the same or any measures having
a tendency in that direction, should be
met with strenuous resistance"
A memorial to the Chancellor of the
Exchequer, Sir Michael Hicks-Beach,
which has been signed extensively by
work of the Bimetallic Commission,
says:
I'VE feel impelled by strong sense
of duty respectfully to lay before her
majesty's Government the following
four considerations, the great import
ance of which we trust may be appar-
ent:
'Ffrst-That no alteration should be
introduced affecting the circulating me-
dunn of this country, except after full
discussion in Parliament and by the
public at large, SO that the changes
proposed may have as ample consider
alton as their Importance deserves.
Second - That under no circum-
stances whatever should the pledges
of successive Governments to the Brit
iSh pound sterling and the single gold
standard of this country be set aside,
either directly or indirectly, and that
no steps should be taken by or with the
consent of our Government which has
for its object any alteration in the val
lie of that standard.
'Third-That this country, as one of
the great nations of the world, enjoys
under her mint regulations a coinage
system absolutely free from embarrass-
ments, internal or external, and we
conceive that any departure therefrom
in the direction of reliance upon en-
gagements with other countries would
be fatal mistake.
'Fourth-That the nints of India be-
ing closed, as to the policy of which
we express no opinion, a state of cir
cumstances has arisen in which the
greatest caution is necessary, whatever
may be the next step which the Indian
Government may be advised to take,
but we urge that no retrograde step
be taken, except upon as exhaustive an
inquiry as that which led up to the
present position, and then only if In
dian interests will be benefited there
by"