Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-05-11
MONEY COMMISSION
Members Will Sail for Liver
pool Next Week.
MEXICAN GOVERNMENT
WILL HAVE REPRESENTATIVE In
MR.. E. c. CREEL.
Prominent Banker of That Country
States His Views as to Work
to Be Done.
MEXICAN GOVERNMENT


commission, Colonel Edwards OF the insular
commission held conference at the War
Department today and discussed the Phil
ippine money conditions In relation to put
ting into effect the new currency laws for
the islands.
The international monetary commission OF
the United States, which will sail from New
York a week from tomorrow for Liverpool
will be accompanied by Mr.. Enrique c. Creel
of Mexico. Mr.. Creel is a prominent banker
of Mexico and is in full accord with the
work of the commission, and will accom-
pany 1t in Its European and Russian tour
as the representative Of the Mexican gov
ernment. 1t will be remembered that this
commission was authorized by the United
States Congress upon the suggestion OF
Mexico and China. Mr.. Creel directly rep
resents the Mexican minister of finance.
and will make report to him upon his re-
turn to Mexico.
While the commission has taken no action
in relation to any plan for realizing its CEN
trail purpose of the movement that led to its
formation, yet the views entertained by
Mr.. Creel are very likely to receive fore
most consideration, and many people be-
lieve they will be finally adopted as the
plan upon which to secure an international
exchange between gold and silver-usirs
countries. The essential feature of this
plan is in many respects to place the great
silver using countries on the gold standard
so far as their foreign trade is concerned.
Mr.. Creers Views.
Speaking recently of conditions in Mex
leo, Mr.. Creel said that in twenty years the
imports of that country had increased from
$50 1000, coo to STAT 100000 and the exports
from $40, coo, 900 to $16s. 100000. The reve-
nues of the Mexican government have also
vastly increased in that period, although
they have not increased In the same ratio
as has the trade. In twenty years the reve-
nues have increased from S2o,000Ooo to
S66 100000.
of Mexico give a fair idea of the problem
that confronts that country. The purpose
of the international movement TO erect sta
bility of exchange between the silver ana
gold using countries is to adopt some plan
by which each of these silver-using coun-
tries Will be able to take care OF Its own
foreign trade by course that Will insure
stability in the price of Its silver money IN
the foreign markets in which 1t deals
Without such security its trade is SO
greatly hampered as to prevent Its people
from entering into commercial pursuits
with any degree of safety when purchases
are made or commodities sold with an
agreement to make a settlement at some
future date.
To Affect Stability Of Exchange.
The desired stability of exchange can
be effected by having the silver-using
country guarantee the value of its coins
in gold. This 0f necessity will make neces-
sary a system by which such countries viii
have in New York and London stock
of gold as a redemption fund. Such plan
will not in the least interfere with the
countries entering into this agreement from
continuing to coin silver and using 1t prac-
tically exclusively for circulation In such
countries.
The important question that will have to
be decided by some international agreement
will be the ratio of value that shall Dc
established between the gold and silver
coins ratio that has been talked or
is 30 to ].
TT is not the intention to disturb In
any way the monetary systems of the goid
countries" said Mr.. Creel recently in dis
cussing this plan. THE financial PROPOSE
ton is confined to the silver-using coun-
tries. with a view of fixing a gold value
very much in favor OF the gold system,
as it will have a fixed relation to gold
1t will require gold reserves. 1t Will nix
the stability of international exchange on
the gold basis and with the gold countries
II is very important that the move which
Mexico has taken should be clearly under
stood because in this country the preJu-
dice against silver is very strong. 1t might
be thought that Mexico is trying to fix a
value to silver in general terms, whether
silver bullion or silver currency. This Is
not the case and it is very important to
draw the line and deal independently with
xla