Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-10-16
BRITISH BANKERS ENTER PROTEST
AGAINST BIMETALLlSM.
MEMORABLE GOVERNMENT.
URGE THAT NO CHANGE BE MADE IN
THE MONEY STANDARD.
Declare That Any Modification of Ex-
listing Mint Regulations Would
lie n Fatal Mistnke-Cann-
dian Bunkers lndOrse
the Protest.

New York. Oct. IA special cabegram
from London to the Evening Post says:
The Canadian Bankers Association. il
view of the action here in memorialiZinS
the chancellor of the eXcncquer ON the sill
yer question, has cabed AT great length
to the chairman of the London clearing
banks heartily indorsing all opposition to
bimetallic measures. The resolution, as
cabled, concludes thus:
They finally reiterate their conviction
that a double standard of value of obliga-
tions is delusive and impracticable; that
of two standards, gold is incomparably the
most desirable, and that the Dominion of
Canada, having all it's obligations, public,
private and corporate, resting on and be-
ing SO long and honorably established on
this most solid basis, any attempt to dis
turb the same or any measures having
tendency in that direction should be met
with strenuous resistance.
Following is a copy of the memorial to
the chancellor of the eXchequer, Sir Mich
ael HIcks-Beach, which has been signed
extensively by the English bankers:
"Sir:-We, the undersigned, are engaged
in various mercantile. banking and imam
cial enterprises in the city of London of
no slight magnitude, and We are. there
fore, deeply interested in all ttat affects
the monetary position of the country, the
credit of the bank note and the sOlvency
of banking institutions. We are aware of
the visit of the delegates from the presi-
dent of the United States to this and
other countries, but have no authoritative
information as to the nature of their
proposals. From the communication of
the governor 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 this
ceeding.
I'VE feel impelled by strong sense of
duty respectfully to lay before her mai
esty's government the following four con-
siderations, the great Importance of which
We trust may be apparent:
"First-That no alterations should be in
troduced affecting the circulating medium
of this country, except after full discus
sion in parliament, and by the public at
large, so that the changes proposed may
have as ample consideration as their i'm
portance deserves.
"Second-That under no circumstances
whatever should the pledges of successive
governments as to the British pound sterl-
ing and the single gold standard of this
country be set aside, either directly or
indirectly, and that no step should be
taken. by or with the consent of our gov
ernment, which has for its object any al
teration in the value of that standard
"Third-That this country, as one of the
great nations of the world, enjoys under
her mint regulations a coinage system alb
solutely free from embarrassments. inter-
nal or external. and We conceive that any
departure therefrom in the direction of
reliance upon engagements with other
countries would be fatal mistake.
"Fourth-That the mints of India being
closed, as to the policy of which we eX-