New-York tribune., 1903-01-30

nese notes TO the State Department, the diplo-
matte negotiations have all been carried on
through the Mexican Embassy. In discussing
jhe plan with The Tribune correspondent to-
night, Mr.. Creel said:
Exactly what we have in view is the appoint
lnent of a mixed commission from the United
states Mexico and China TO give a fun STUDY
10 The economic problems in relation TO estab-
hshing new monetary system in the silver
using countries OF the world. After plan has
been agreed upon by the commission and ap-
proved by the governments represented the
commission VIII so to Europe and take the
necessary steps before the governments there
having Eastern interests.
II is not the intention of the Mexican Govern
lnent TO recommend bimetalism or the free COIN
Sse OF silver. or to discuss any OF the PROPOSE
tons which have already been discredited by
The great powers OF the world, but to start on
a new policy within the lines of the gold standard
system. and to fix gold value to the silver
curr~ncy TO be used in silver using countries.
and 10 make the necessary international ar
langements for the of silver coins as frac-
ional currency and subsidiary currency. so as
10 provide as far possible monetary system
OF the world on the gold basis.
The views of the Mexican Government on TINS
important subject have been well received 10y
ihe government of the United States and by
several authorities on monetary questions who
have already been consulted, and are giving the
matter fun study and consideration. i have
also received very encouraging support from
some of the leading bankers Of this country,
who have assured me that Mexico has taken
fhe wisest step possible. and which VIII
flleiE be followed by practical success
The interests Of gold countries and OF the sill
Yer countries are common on the lines of inter-
national tIade. The silver using countries are
buying from tho gold countries at present nearly
S600.0t0,000 in products per annum on the gold
basis. These products consist mostly Of manu-
factured goods and supplies. With a substan-
tial currency which Will give satisfaction both
TO the gold and silver countries, this interna-
tional trade would be expanded very soon to
more than s., 600 100000 annually in gold. This
would he because the purcfff sing power OF
silver currency would be increased, the price of
labor would be advanced. and in great many
other ways the monetary system would de-
veiop international trade.
One Of the very important factors TO bring
ebout satisfactory results has been China which
is working in this matter in full accord with
Mexico, and has also applied for the co-opera-
tion of the United States. China is consuming
at present only 30 cents per capita of foreign
goods. while Japan is consuming S3 per capita
in foreign goods. II after few years the
markets of China open TO the commerce of
the world she Will be in position 10 buy. in
stead Of S2fs0.0gd.oo0 worth Of goods annually,
more than 81 900 900 worth which is the
equivalent of So per capita on a population OF
dm1eeaeo0
On the whole the proposition which Mexico
has taken up is ore OF the most important eco
nolnie problems that could be submitted to the
world. and If il shall be carried to success il
viii be strong move in favor of civilization
HRd humanity.