The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-19
DEarH-BLow To THEIR MISSION
Decision Of british Cabinet Destroy.
Hopes of Money Comnaissiauer.

LONDON. Oct 1S-The United States
monetarv commissioners have received no
Official Information OF the action taken by
IRE British ca5ine; on Saturday. Private
advices. however. convince them that the
cabinet has dealt a death-blow 20 their
mission. II IS expected that the conxnls-
sloners VIII shortly be informed tha, her
majes;y's government regrets being unable
70 accede 10 their proposals. but Is willing
20 listen 10 any other plan they NAV suE-
gest. Both parties 10 tire conference know
that no other practical scheme can be sd-
vanced.
The commissioners believe their failure
means that no further effort fer bl-me;ai-
ism Will Re made for many years 10 come.
They attribute their failure 20 the opposi-
ton OF the bankers and Of the London
Times. Until these forces were aroused.
al signs pointed 10 the cooperation Of the
British government.
The Times, commenting ed!toFially in
approval of the governments decision.
says:
President Mckinley has now redeemed
his election pledges and may turn with a
pleasant sense OF discharged Tesponsl hllity
to the serious work Of financial reform.
The Standard says editorially:
THE strong bi-metallic minority in the
cabinet has shown itself sufficiently influ-
entail % delay for the present any pro-
nouucameni fatal 10 the success OF Mr..
Wolcotts mission. The game OF coquetry
initiated by the bank, with the connlvance
II not a the tnstigation Of some of the
ministers. is apparently 20 be Slii ptayed
and the public is TO be kept in the dark as
10 the real attitude and intentions Of the
government Why issues OF such vital i'm
poTtance 10 the financial stability of the
government could be thus temporiLed with
at the request OF the United States Is A
problem OF the deepest obscurty. Though
there can be no doubt as to what the utl-
mate result Will be. this policy is danger
Gus"
The afternoon papers today echo the
opinions OF the morning newspapers IN
congratulating the government upon final
ly disp0Sing OF the bl-metaHic scare, and
expressing regret that II should ever even
have seemed 10 receive support In high
quarters.
In an interview today. Governor Smith,
Of the Bank OF England. said: The state
ment that the bank has been coquetting
with the American commissioners Is pure
rubbish. Excepting what | have read in
the papers. 1 have never heard OF these
gentlemen"
Hugh c. Smith. governor OF the Bank OF
England. said today to a representative of
the Associated Press:
THE bank Is a private company with
out government control and is not respon-
sible 10 the government, except In The
terms Of its charter. The government can
not issue any order relative 10 the hanks
reserve. At the same time. the govern
ment is the banks customer, and the court
or governors. being composed Of law-abid-
ing citizens whenever the government
makes a request. does its best TO comply.
The government must be presumed 10
know what is best for the country. The
press has been filed with misstaiements.
The government was asking II the
bank was willing 10 renew Its offer made
at the Paris monetary conference In 1891,
regarding It's reserve. | replied in the
same tenor as the memorandum which the
bank gave to the conference. though more
guardedly. Taat is all that happened. The
statement that the bank has been coquet-
ting with the American commissioners IL
pure rubbish Excepting what l have read
In the papers. / have never heard OF these
gentlemen"