New-York tribune., 1903-01-30
[BY TELEGRAPH TO THE TRrBUSE-I


Washington, Jan 29.-President Roosevelt TO-
day gave his indOrser. .ent to the appeal or Mex
leo and China for ,he and universal stand
ard of coinage for the silver using countries or
the world by transmitting this appeal TO Con-
gress with his recommendation that sufncleht
powers be given TO him TO lend the support OF
the United States, in such manner and IN such
degree as he may deem expedient, to the plan
advanced by the two governments
The Tribune has already described the puopo-
sition, and stated the fact that diplomatic ne
gotatfons being carried on between the
governments interested. The notes sent TO Con-
gress to-day explain the exact nature OF these
negotiations the ultimate end of which is the
appointment of joint commission Oh thie0
members each from the United states MeAlco
and China Tho purpose of this commission VIII
be to study the economic problem presenting
itself to silver Using countries, devise pan Ior
a universal standard of coinage, and then go 10
Europe and lay the matter before the govern
ments of Great Britsin, France Germany, fSus-
sia and other powers having interests in the
East to the end that the system devised may
be universally adopted. This plan. as at present
set forth by the ENJOYS from Mexico ana emma
to this country. contemplates ratio OF % 10 IL
exactly as provided in the Lodge and cooper
bills for a Philippine currency
The initiative in the matter of universal
laid the matter before China for her co-opera-
ton which was at once given, and the TWO
countries then appealed to the United states
The plan is to carry on the investigation
through the proposed commission until a dennlte
system can be outlined. and then invite the CO.
operation of other silver using countries IN
securing its universal adoption.
The PRESIDENTS MESSAGE
President Rocsevalts message to Congress
follows:
transmit herewith a report from the Secre-
tary of State, with accompanying notes from
the Mexican Ambassador and the Cnlhese Te
Charge d'Affaires ad interim, Wnlcn seek Che
cooperation of the United States IN such meas
ures as will tend TO restore and MAINTAIN
fixed relationship between the moneys OF the
gold standard countries and the slIVeL uSlrS ~
countries. I recommend that the executive pe
given sufficient powers to lend tne s9ppoI. t y,
the United States in such manner ana 10 such
degree as he may deem expedient t0 the pur-
THEODORE ROOSEVELT
The message was referred in the Senate to
the Committee Finance
SECRETARY HAYS NOTE.
In mis- communication Secretary Hay says;
NOT asked that the United States modify
its monetary system, and 1T is distinctly us
avoved that any movement is contemplated I Lol
the restoration of international bmetaIllsIn- Inc
opinion is expressed. however, by the repre-
sentatives of both governments that CONSUME CONSUME
tion between the United States ana European
powers having dependencies in the orient anu ~.
the independent countries where silver money Is
in general use may result in the adoption vi q
monetary system which will prevent the greae d
fluctuations in exchange which now occur III
trade with the silvar using countrles- II SUN
a result can be achieved-and it is pointed OUT
that at least partial solution mas oeeh pro
nosed in the United States, in bill now pend
ing in the Senate in regard to the Phlllpplhe
Islands-great benefits VIII follow lo @ on
ING q
of tho PRODUCTS of the manufacturing nations TO
the markets of China and the other silver uSlhs
countries. - 1.o 49,,
important bearing also the payment OF the
Indemnity due by China to certain European
powers and to the United States Dy enaollhs
the Chinese Empire to put her monetary system
upon a basis which will make 1t posslole ior
her to meet these payments in a manner sdtlS 55
factory TO all the powers This result If 1t could
he ACCOMPLISHED would be of the first 1mpor-
tance not only to the United States and TO the
other powers having share In the ~lnoeinnts ~
payments but to China herself and her 1utule
development.
DETAILS OF THE PROPOSITION
The Mexican note. which is identical with tnat
of China, except for verbal variations in trans
ation and in few paragraphs reiatlhg 10 locdi
conditions is follows:
The serious dangers which are threatened by
the recent fluctuations in the value or SILVER
bullion to the commerce both of gold ana silver
standard countries have determined IHe SONeiH-
ment of the Republic of Mexico to ask the CO.
operatiOn of the United States in seeking d
remedy for these conditions Safe and prontaDle
trade between any two countries is dependent
TO a considerable degree upon relative staDllty
in the value of their Currencies- This stablhty is
DESTROYED in the trade between a gold standard
country like the United States and silver coun-
trv like Mexico when the variations in the gold
va1ue of silver as was the case during the year
1902 reach nearly 10 cents an ounce in gold IN
a single year, or nearly 20 per cent upon the
price of silver bullion.
The problem of securing relative stability or
exchange between gold and silver countries is
one whose Importance is not limited TO silver
countries but comes home with force 10 all
those gold standard countries which are seeking
markets for their products in silver countries
and are seeking the extension OF their trade IN
the Orient The importance of this trade is In
dicated in some measure by the following table
of imports into certain silverusing countries for
the latest year for which data are obtainable.
based in some cases upon official figures and in
others upon those presented In The States
mans Year Book for the year 1907, reduced to
round figures in American gold coin;
! IMPORTS OF CERTAIN SILVER USING COUN-
TRIES.
Chin. s196 a34 342l Tonking ........ Sf2 300 900
Ncxco 0s3 45i| Siam l.. COCOON
| phiInnine ISL lCorea $500 O0O
| 80 So Bolivia 3300.0OO
straits Set cIonluld ll,'Nb'p->
tIaraents -. 100000 600 Guatemala 1921 900
| IO0gn AZ n5