The Montgomery tribune. (Montgomery City, Mo.) 1892-1910, 1903-11-20
STABILITY INSURED.
The Gold standard Lends Impetus To
business In Al Coun-
tries.

~
The report Of the commission on In
tcrnatiUnal exchange. which has Just
been submitted to the state department
at Washington. il an important docu-
mont AS showing the steady drift Of the
world to the gold standard and the
proved necessity of adherence to that
standard as an essential to commercial
stability. The commission was appoint
cd In compliance with a request from
Mexico and China for support In an
effort TO bring about n fixed relationship
between the moneys Of the gold standard
countries and the silyer-using countries.
This request was made In consequence
Of the difficulties. annoyance and loss
experienced In consequence " the iluc-
tua,ing value Of silver coinage. says the
Troy Times.
The report OF the commission alludes
nj some length to the cmbarrassments
suffered by the business men In silver
standard countries. and says: The fact
that the importing merchants Of such
silyer-uslng countries cannot reckon
upon the cost In their own local currcn-
cics OF the remittances In gold which
they must use In making settlements
for purchases made In gold standard
countries has been slowly but surely
producing domestic commercial pa
ralysls. checking foreign investments
for the development OF public and pri-
waite enterprises and hamperlng the I'M
p%ortation Of the products OF the labor
- the gold standard countries"
The commission consists OF II. II.
Hanna. OF Indianapolis. who has long
been Identified with sound currency
movements In this country: Charles A.
Conant, formerly a prominent news
paper correspondent at Washington and
now member OF n leading trust
In New York. and Prof. jeremiah w.
Ienks' OF Cornell university. n high au-
thorlty In economic and financial mat
tiers. This commission was ACCOMPANIED
by one representing Mexico, and the two
visited all the leading capitals OF the old
world, and found general approval Of the
IDEA OF n definite ratio ms between gold
and silver for the s~ilvor-uslng countries.
The result is thus fairly summed up:
"The representatives. OF all tho powers
consulted accepted IN a general way ns
desirable and practicable tho suggestion
made by the commission OF the i'nit,d
states. h plan proposed IL similar 10
pines and which has been I'm NJ. IN III
Dutch East inGlts for q years.
Upon the subject Of the lntroduetlon NJ
q UNIFORM gold standard system Into China
there was unanimous agreement that such
a system would be desirable. Upun the
Puettlon, however. whether the gold stand.
atd should be established NJ the beginning
or should come afteg tho Introduction OF n
uniform national currency upon ths sl,yer
basis there was some difference OF opinion
lpon tho subject OF adopting the rela-
avery uniform ratio Of about SO TO 1 In the
systems to be established I'm Inc
orient by those Countries and doponden-
oies when are considering a change In
their existing systems there was nEree.
meht IN all countries except Russia.
Russin did not object To the ratio. But
II questioned the expediency OF n uni-
form arrangement. and deemed 1t best
hat each country should determine It's
own ratio according to its monetary
needs and economic conditions.
The report shows the advantages that
follow the adoption Of a common
ratio OF exchange for silver-using
countries. among which would be in
importations OF American and
'thor goods Into China. the influx OF for
Ign capital into the silver countries in
he form OF investment in productive
Enterprises. and closer trade relations.
o the profit OF all concerned. between
in which the fuctuation OF
aver now creates serious barriers TO
commercial intercourse. The facts arc {
I the greatest interest as showing the =
ecessity OF a stable medium of ex. !
mango and prove anew the truth that :
he progressive nations OF the earth I
ecognize the gold standard as the only u
afe one. l