New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-12-07
PARIS.
EFFECT OF ADOPTION OF GOLD STAND
ARD IN FAR EAST ON FRENCH
COLONIES.
PROMOTION OF THE PEACE PoLICY-DIP
LOMATISTS HAVE BUSY DAYS-C9LD
ON CONTINENT.

Paris. Dec. e.-The decree of the King of Siam
faroughout his doTninions the adoption in the
British settlement Of Maiacca of the gold stand
ard TO 90 into effect within the next few weeks,
and the announcement that Senator Lodge has
introduced . bill for the establishment of the
gold stsadand in the Philippines. have induced
FRANCES Deloncle, Deputy of the French Col
ony OF Cochin China, TO draw the attention of
NJ Dounergue, French Minister of Colonies, 10
tie economic revolution which these collective
pleasures viii bring about in the Far East, and
which viii have eeplorable consequences for the
French possessions in Cochin China and Tonkin,
unless immediate steps be taken The Min
listers Of Colonies and Of Finance have had
long conferences the subject, and commits
sion has been appointed consisting of n. Pal
lain, governor Of the Bank of France; II. Simon.
manager o. the Indo-China Bank, and of half a
dozen high functionaries and experts Of the
Ministry Of Finance, which will meet and begin
x=ork On Monday.
The situation is greatly aggravated by the un-
expected suddenness with which the Siamese
Government proclaimed the gold standard with
out informing the French authorities More
over. n. Deloncle says the French Bank of Indo-
China has enormous amount of paper in cir
ouiation which is liable to be called in for re-
deInptien IN gold al the rate Of 1 franc and as
confines teal, when the ticals current value
Is only i franc is confines In II. DeloncIe's
opinion this alone is sufficient to cause a none
tary crisis III the Far East which would have
grave after effects in France.
The French political economist. Paul Leroy
BeaElieu, questioned on the subject by an editor
Ct the ''Eclair,' states that the French colonial
authorities showed an incomprehensib.e want of
foresight not 70 have already anticipated what
p coup d'etat- In 81. Leroy Beauiieus opinion
fhe successful working of the gold standard in
British India, established in June. 1898 was al
ready sufficient warning to the French Colonial
Government in the Far East. When asked as to
s.hat remedies should be adopted under the
present circumstances, NJ Leroy Beauieu re-
piled. First, all the coinage of silver in the
French possessions in Cochin China should be
Immediately prohibited. and. second, the ex-
ample Of England in India should be followed
and an attempt should be at once made to main
tain the Cochin China silver piastre at a fixed
fictitious value, Just the English have sue
ceeded in maintaining the fixed value in India
of The silver rupee. Unless these steps are taken
forthwith, says NJ Leroy Beaulieu. who enjoys
fne reputation of being the foremost authority in
monetary science in France, the most disastrous
monetary ard industrial consequences will en-
sue. for the forthcoming adoption in the British
Straits Settlements of the gold standard VIII be
of far greater Importance to French interests in
The Far East than the present adoption of the
relc standard by SIAM CUR next door neighbor
there.
This universal depreciation Of silver, says NJ
Leroy Beau,ieu, is the most serious question
tie French colonial authorities have been con-
fronted with for long time, and immediate and
decisive steps alone avert crisis which viii
have FAR reaching consequences in Paris.
Under the presidency OF Frederic Passy the
association of university men. jurtsconsuits and
dlplo,ratists known Ecole des Hauses Etudes
Socisies has instituted its campaign in favor OF
tee policy OF peace and mutual disarmament.
The campaign was opened by address Of
UEssoui.elles de Constant. deputy and junior
French delegate at The Hague arbitration
tribunal The Policy and Diplomacy of Peace"
pss iae sub3eet ~ tts discscrse. ia which hs
&c nc eedzre&1on It III the Fsropean states
coHMc--tni ta6nstviaa asa.sy IS the only
~Sot = winch Europe hold its owl,