The San Francisco call., 1897-10-16
Gold Declared Desirable in
Paying the Dominion's
Obligations.
THE MESSAGE SENT TO
HICkS-BEACH.
English FInancIers Give Their Rea-
sons for Protesting Against
Changes in Currency.
SPECIAL plsratch to THE CALL

NEW YORK, n. Y, Oct ia special
cablegram from London to the Evening
Post says: The Canadian Bankers Asso-
citation, in view of the action here in
memorializing the Chancellor of the Ex-
chequer on the silver question, has ca bled
at great length 10 the chairman OF the
London Clearing Banks heartily indorsing
all opposition to bimetallic measures.
The resolution d ca bled concludes thus: {:
They finally reiterate their conviction
that a double standard of value of obliga-
tionS is delusive and impracticable; that
of the two standards, gold is the more de-
sirable, and that the Dominion OF Canada
having all its puolic obligations, private
and corporate, resting on and being so
long and honoraby esta blished on this
most solid basis, any attempt to disturb
the same and any measure having a tend
ency in that direction, should be met with
strenuous resistance"
Following is a copy OF the memorial to
the Chancellor of the Exchequer, Sir
Michael Hicks Beach, which has been
signed extensively by tue English bankers:
Sir: We. the undersigned, are engaged in
various mercantile banking aud financial en-
terprises in the city OF London of no slight
magnitude, and we are therefore deepIv in
terested in all that affects the monetary POSI-
tion OF this country, the credit of the bank
note and the sOlvency OF banking institutions
We are aware OF the visit of the delegates from
the President OF the United States to this and
other countries, but have no authoritative in
formation as TO The nature of their proposals
From the comm unica ton of ihe governo or of
the Bank or Eng and 10 yourself. lately made
public and from general report, we cannot
but assume that negotiH tions OF some sort
touching the metallic currency of this coun-
try are progressing. We feel fmpelled b. q
strong sense OF duty respectfully 10 Law before
her MaJeStv tvs Government the following four
cOnsldeTa tions the great i'm portsnce of which
we trust may be apparent:
First-NO alterations should be introduced
affecting the cireulat ting medium of this coun-
try, except after full discussion in Parliament
ana by the public at large, so that the changes
proposed may nave as ample Consideration as
their importance de>erves.
Second-That under no circumstances what.
ever should the pledges of successive govern
ments to the British 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 con-
sent OF our Government which has for its OBJ
ject any alteration in the value of that
standard
ThiTd-Thrt this country, as one OF the grea I
nations OF the world, enj oys under her mint
regulations a Coinage system absolutely free
from endorsements, internal or ex ernal
and we conceive tnat any departure there
from in the direction of reliance upon engage
ments with other countries would be a fatal
mistake.
closed, as to the policy of which we express = o
opinion. state of circumstances as arisen in
which the greatest caution is necessary W hat
ever 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 inquiry as that which
led up TO the present position. and that only
If Indian interests will be benefited thereby
We most strong urge the foregoing con-
siderations upon her Ma jesty's Government
speaking, as We believe we are justified in
stating, with some little knowledge of the
problems involved ana of the interests at
stake, and we are prepared, If necessary. TO
give our reasons at length if IL be your wish
10 receive d putation