The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-10-16

New York. Oct IA special cable
gram from London to the Evening Post
says:
The Canadian Bankers association,
in view of the action here in memorial
ling the chancellor of the exchequer
on the silver question, has cabled at
great length to the chairman of the
London clearing banks heartily en-
dorsed all opposition to bimetaiiic reso-
/ buttons. The cablegram is:
TO further reiterate their conviction
that @ double standard of obligation is
6elusiYe and impractlcabie; that OF two
standards gold is incomparably the
most desirable, and that the Dominion
Of Canada, having all its public obli-
cations, private and corporate, resting
ON, and being so long and horOrably
established on, this most solid basis.
any attempt TO disturb the same, or any
measures having a tendency in that di-
Tectioa. should be met with strenuous
resistance.
THE ENGLISH MEMORIAL
Following is a copy Of the memorial
to the chancellor of the eHcheQuer. Sir
Michael Hicks Beach. which has been
signed extensively by the English
bankers:
'Sir: We. the undersigned are en-
gagged in various mercantile. banking
and financial enterprises in the city
Of London, Of no slight magnitude, and
we are. therefore, deeply interested in
all that affects the monetary position
OF the country, the credit of the bank
note and the soiYeney Of banking insti-
tutions. We are aware of the visit Of
the delegates from the president OF the
United States to this and other coun-
f11sa inf
nation as to the nature of their pro
posals From the communication of
the Bank of England to yourself lately
made public and from general report,
we cannot but assume that negotiations
OF some sort. touching the metallic cur
rency of this country, are progressing
We feel impelied by a strong sense of
duty respectfully TO lay before her mai
esty's government the following as our
considerations. the great Importance Of
which we trust may be apparent:
1-That no alterations should be in
troduced affecting the circulating me
dium Of this country, except after fun
discussion in parliament and by the
public at large. so that the changes
proposed may have an ample consld-
GRAFTON as their Importance deserves
2-That under no circumstances whit
ever should the pledges Of successive
governments to the British pound
sterling and the single gold standard
of this country be set aside, either dt-
rectIy or indirectly, and that
NO STEPS SHOULD BE TAKEN
by or with the consent of our govern
ment which has for its object any al
teration in the value of that standard.
9-That this country, as one of the
great nations Of the world. enjoys IN
der her mint regulations a coinage sys-
tenn absolutely free from embarrass-
inents, internal or external, and we
conceive that any departure therefrom
in the direction of reliance upon en-
gagementS with other countries would
be a fatal mistake
THAT the minis of India being
closed. as to the policy of which we
express no opinion. state OF circum-
stances has arisen in which the great
est
CAUTION IS NECESSARY
whatever may be the next step which
the Indian government may be advised
TO take but we urge that no retro
grade step be taken except upon as
exhaustive inquiry as that which led
up 10 the present position and then
only if Indian interests viii be bene-
flied thereby.
We must strongly urge the foregoing
conditions upon her majesty's govern
meuJ. speaking. as we believe we are
justified in stating, with some little
knowledge of the problems involved
and Of the interests at stake. and We
are prepared. # necessary, TO give our
reasons at length if il ba YOUR Uich f0