The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-01-30
A STRONG APPEAL
China aud Mexico Seek Cooperation
of United States
IN A VERY VITAL MATTER
They Ask the Establishment of a
Fixed Relationship
BETWEEN GOLD AND SILVER
They Claim Such Action Would Prove
Mutually Beneficial.
THE RECONCILIATION OF SILVER
Is Not Demanded, as Free Coinage Is
Recognized as Being a Discarded
Policy Of This Country.
They Claim Such Action Would Prove
Mutually Beneficial.
HE RECONCILIATION OF SILVER

Washington. January 29.--President Roose-
welt today sent the following message 10
Il transmit herewith report from the
secretary OF state, with accompanying
notes from the Mexican ambassador and
the Chinese charge d'pffaires ad interim,
which seek the cooperation Of the United
States In such measutes as Will tend 10
restore and maintain fixed relationship
between the moneys OF the gold standard
countries and the silver using countries. I
that thS executive be given sut-
hcient powers TO lend the support OF the
United States IN such manner and 10 such
degree as he may deem ezpedient to the
purposes OF the two governments,
Theodore Roosevelt"
The message was referred 20 tho commit
tee on finance.
In his communication Secretary Hny says:
1T is not asked that the United states
modify It's monetary system and Il is dis
tinctly dlsavowed That any movement is
contemplated for the restoration Of interns-
tional bimetnllism.
THE opinion IS expressed by the repre-
sentatives OF both governments that con
sultatiOn between the United States and
European powers having dependencies In
the Orient aud the independent countries
where silver money is in general use. may
result in the adoption Of monetary sys-
TEN which will prevent the great fuctua-
lions in exchange which now occur IN trade
with the silver-using countries. II such
result can he achieved, and 1t is pointed
out that vt least aArtinl solution has heen
L., l. 4..a - A. d..
gard 10 the Philippine islands. great dement's
wa follow to the trade of the world by
making easier the aGcess Of products Of
manufactured goods OF nations TO Tho mar.
kets Of China and other sllver-usiug coun-
tries.
THE consideration OF this subject may
have an important bearing also on the pay
ment of the indemnity due from China 10
certain European powers and 10 the United
States, by enabling the Chinese empire TO
put her monetary system upon basis
which will mike II possible for her to meet
these payments In a manner satisfactory TO
all the powers. This result II II could be
accomplished. would be Of the frat impor-
lance. not only TO the United States and
TO the other powers having a share in the
indemnity payments, but to China herself
and future development
The memorandum submitted by China
and Mexico are practically identical. The
/ Chinese note can he taken as typical Of
Mexico 1t says that the serious results
which are threatened by the recent nuctua-
tions IN the value OF silver bullion TO the
commerce both Of gold and Of silver stand.
ard countries have induced the Chinese i'm
perial government, acting in concert with
the Mexican government, 10 ask the co
operat!on of the United States In seeking n
remedy OF these conditions for the mutual
benefit OF all concerned 1t IS pointed out
that trade stability between the United
States, gold country, and China, Il silver
country. is destroyed by variation Of 20
per cent in one year In the price OF silver
bullion. as happened last year.
The memorandum urges the stability in
this respect Is as important TO gold'using
as to silver-uslng countries. 1t shows that
the silver.using countries imported, In 1902
almost exclusively from gold standard coun
tries. goods TO the value OF 1914 625,S23, ex
Guiding British India and several silver
countries In South America, which might
be brought into an agreement TO maintair
stability.
1t is further pointed out that the largest
amount OF this trade, namely, S1eS,eS4, e42
went TO China.
This trade, 1t Is declared, Is now threat
ened with a decline, the limit Of which Nc
one can foresee The heavy indemnity i'm
posed by certain other powers on the Chi
nese government has further depressed sil
YER prices and threatens TO reduce mate
rally the export trade to China from thu
United States and Europe. This trade tina
the United States 10 said to have increases
greatly within twelve years is now but
slight measure OF what It might becom
with stable currency. Import trade OF $
pcr capita into China would represen
81 2OO. 900 600. Tho encouragement Of
commerce so important IS declared 20 b