Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1897-10-16

I'd WHAT secretary Gage Will Propose for
Uncle Sam in Currency Reform.
New York, Oct. 16.-A special cable
gram from London to The Evening Post
says: The Canadian Bankers associa-
ton. In view Of the action here in
nemorial!zing the chancellor of the ex-
chequer on the silver question. has
cabied at great length to the chairman
OF the London clearing banks heartily
indorsing all opposition to bimetallic
measures Following IS a copy of the
memorial to the chancellor of the ex-
chequer, Sir Michael Hicks-Beach,
which has been extensively signed by
the English bankers:
Strive, 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 solvency Of banking institu-
uons. We are aware Of the visit of the
delegates from the president of ths
United States TO this and other couu-
tries, but have no authoritative in
formation as to the nature Of their p-o-
posals. From the communication of the
governor OF the Bank OF England tC
yourself, lately made public and from
general report We cannot but assume
that negotiations Of some sort touch
ing the metallic currency of this coun-
try are proceeding.
Gold standard Insisted Upon.
We feel impelled by strong sense
rnETpcffIlllxy tn 10 lar
majesty's government the following
four considerations. the great i'm
portGnce of which We trust may be ap-
parent:
Il. That no alterations should be
introduced affecting the circulating
medium Of this country except after
full discussion in parliament and by the
public at large. so that the changes pro-
posed may have as ample consideration
as their inportances deserves
"2. That under no circumstances
whatever should the pledges Of sue
cessive governments as to tho 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
consent of our government which has
for fits object any alteration in the value
Of that standard.
John Bulls Coinage System Praised.
'3. Tint this country, as one of the
great nations of the world enjoys under
| her mint regulations a coinage system
absolutely free from embarrassments
| internal or external; and we conceive
that any departure therefrom IN the di-
| rection Of reliance upon engagements
| with other countries would be q fatal
| mistake.
"a. That the mints OF India being
c}osec-as to the policy Of which We ex-
| press no opinion-a state Of circum-
| stances has arisen in which the greatest
| caution is necessary. whatever. may
be the next step which the Indian gov
| ernment may be advised to take: but
We urge that no retrograde step be
| taken except upon as exhaustive an in
Qufry as that which led up to the pres
ent position. and then only IL Indian in
terests Will be primarily benefited
| thereby.
| We most strongly urge the foregoing
considerations upon her majesty's gov
ernment. speaking-as We believe we
are justified IN statiDg-with some little
knowledge OF the problemsTnvoIved and
of the interests at stake, and we are
prepared, II necessary, to give our rea-
sons at length. IL II be your wish to re-
| ceive q deputation.'