The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-16
FOR AG0LDSTANDARD
ENGLISH AND CANADIAN BANKERS
MEMORIAL
Fear of Conees.ions tn silver fu-
spires English Bankers 10 Give
Reasons Against Them. and the
Canadians Add an Endorsement.

LONDON. Oct. E-Today was presented
20 Sir Michael EichsBeacn. chancellor Of
me exeheQusr. tie memorial which has
been e process 81 signature among t1e
leading banking houses and financial en-
serprsses IN London. and also q copy o.
the resolutions against bi-rnetailisrn ADOPT
81 by tbs Canadian Bankers Association
on October S.
NEW YORK, Oct ia special cable
gram from London 10 the Evening Post
says:
The Canadian Bankers Association. IN
view OF the action here IN msmorlalizlng
the chancellor OF the exehequer on the
silver question. has cabled at great length
10 the chairman OF the London CLEARING
house banks. heartily indorssng ali oppo-
siti0n 20 bi-metaliic resolutions. The In
tent Of the cabiegram Is:
ITO further relu<ate their conviction
that a double standard Of ooaiga-
ton is delusiye and impractica Die;
that q the two Standards gold Is
and that th,s Dominica OF Canada,
having AL It's public obligations. private
and corporate, resting on and being SO long
and honorabiy established on this most
solid basis. any attempt 70 disturb the
same, or any measures having tendency
IL that direction, should he met With
strenuous resistance"
Following is a copy OF the memorial TO
the chancellor Of the exchsquer. Sir
Michael Hicks-Beach. which has been
signed extensively by the English bankers:
'Sir: We. TIE undersigned, are engaged
ia various mercantile. banking and flnan-
cial enterprises IN the city OF London, Of
10 slight magnitude. and We are there
fore deeply interested IN all that affects
the monetary position Of the country, the
credit Of the bank note and the solvency
or banking Institutions Ae are aware
OF the visit Of the delegates from the
president ofsthe United States TO this and
other countries, nut have 10 auiaorita-
tive information as 70 the nature OF their
proposals. From the communication Of
the Bank of England 70 yOarself. lately
made public. and from general report We
cannot but assume that negotiations OF
some sort touching the metallic currency
OF the country are progressing.
We feel impelled by A strong sense Of
duty respectfully TO lay before her MsJes-
tvs government the following four c0nsid-
erations. the great Importance OF which,
We trust. may be apparent:
L That no alterations should De intro
ducsd affecting the circulating medium Of
thiE country. except after fun discussion
IN parliament and 5y the public az large,
so that the changes proposed may have
as ample consideration as their import
ance deserves.
=. That under no circumstances what
ever should the pledges OF successive gov
eFnnients 20 TIE BRUSH pound sterling and
the single gold standard OF this country be
SET aside, either directly OF indirectly. and
that no steps should be taken by or with
the consent Of our government which has
that standard.
3. That this country as one OF the great
nations OF me world. enjoys under her
mint regulations a coinage system abso-
or external, and we conceive that any de-
parture therefrom IN the direction OF re-
lance upon engagements with other eoun-
tries would be a fatal mistake.
- That the minis of India being closed
as 20 the policy Of which we express no
opinion, state OF circumstances has aris-
en- In which the greatest caution Is neces-
sary; whatever may be the next step
which the indian government may be adj
Vised 10 take, but we urge that no retro
grade step be taken except upon an ex-
naustiVe Inquiry as TO that which led up
10 the present position. and then only IL
lneian Interests viii be benefited thereby.
We most strongly urge the foregoing
CONDITIONS upon her MaJesty's government.
speaking, as we believe we are justified In
speaking. with some little knowledge OF
the problems involved and Of the interests
at stake. and We are prepared. If neces-
sary, 70 give our rea sons at length IL IL
be your wish TO receive a deputa,ion''
LONDON. Oct. 15-The Globe which has
close relations with cabinet ministers, re-
iterates this afternoon that the govern
ment may be depended upon to maintain
the gold standard inviolate
The Times, Daily News and Standard
al comment upon the anti-bi-metallic
memorial presented yesterday TO the
chancellor of the exchequer With the
utmost seriousness they impress upon the
government the danger OF continuing an
ambiguous policy" and appeal to it to
do nothing rash IN India"
The Standard confesses that the scare
ity OF currency in India since the minis
closed has been a serious matter. but II
says that a small committee or business
men might be appointed 10 settle the
question without reference TO the wishes
OF Americans or other silver-mlne own
ers. 1T silver" says the Standard. els
the best currency for India. let her have
Il; but no rash decision ought TO be taken
without ample discussion