New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-05-20
COMMISSIONERS SAIL.
Going abroad to Urge Gold Stand
ard for Silver Countries.

Enrique c. Creel. chairman of the Mexican
international Exchange Commission. sailed for
Europe yesterday with his secretary, Iauro c.
Alvarez on board the Kaiser Wilhelm der
Crosse. The other members of the Mexican COM
mission-Luis Camacho. financial agent OF Mex
leo in London. and Eduardo Meade, president
of Banco de San Luis Potosi-will meet Mr.. Creel
in London. Mr. Creel is the president of Banco
Central Mexicano of Mexico City, is one or the
directors of the Mexican Central Railway, Linn
tied. and is connected with several other large
enterprises Of Mexico.
The members of the United States Commits
sion also sailed on the same vessel The party
consisted of the three commissioners-H H.
Hanna of Indianapolis; Charles A Conant'
treasurer Of the Morton Trust Company, and
Professor jeremiah w. jerks OF Cornell Uni
versty and jules Guthridge. Q. G. Guerlac and
l. V. McGlone, secretaries.
Mr. Creel is a great believer in the gold stand
ard system, and has been making every pos
sible effort to introduce it in Mexico. Speaking
yesterday as to his mission in Europe. he said:
I'VE have made good progress in Mexico con-
corning the new monetary system which Will
rest on the principles of the gold standard and
which will be a great Improvement to the
finances of Mexico. The silver coin which
Mexico expects to issue will have fixed gold
value, and it will give full protection and COM
plete stability to all financial transactions. 1t
will satisfy the demands of foreigners who have
invested capital in Mexico and 1t VIII pc souho
money, as good gold
..T1o Won expect to recommend the system to
The Furouean governments what is the op-
iect of your visit to Europe?" was asked
I'VE do not intend to disturb in any way the
monetary systems of any of the gold COUNTRIES
but several of the European powers have pos
sessions in Asia and Africa where silver Is
used altogether the circulating medium eA-
actly under the same conditions as in Mexico
Such countries are suffering extremely on ac-
count of the low price of silver and it is ad-
visable for them to change their monetary sys-
ter Otherwise their finances their commerce
and their credit will be in danger, and II the
fall in the price of silver continues business
chaos might result. The same conditions prevail
in China and the time has come for all OF the
silver using countries to accept in one form or
another the gold standard, though they may
continue to use-and it is wise that they should
silver coins.
IF the change has to be made; If the silver
money and silver bullion have to be separated In
value forever it is very important that a gen.
eraI understanding should take place with all
of the interested countries, so that at the time
of making the change a certain uniform plan
should be followed. giving in this way more
stability to the system. more strength to Its
financial construction and a solid ground 10 lay
its foundation"
IF the plans of Mexico. which are now sup
Dorted by the United States and China, should
succeed. to what extent would the people of the
United States be interested in the PROPOSE
tion?"
ITO a very great extent. The United States
is great manufacturing country; you VIII soon
have population of 100.0OO.OO0. and the growth
of your manufacturing capacity Is enormous
YOU will have a surplus amounting to huhoreus
of millions of dollars, and such surplus mas 10
seek the consumption of the silver using eoui-
tries in China. Mexico, Central and South Amer
lea and elsewhere.
IF the silver using countries were III distress
for the lack of a sound monetary system you
would be Handicapped in your international COLI
merce. On the other hand If the SILVER USING
countries have good, sound money 10 catig
through their business, their Consumption "Ou1u
increa Sc and the United States and the european
manufacturing countries would reap the pene-
fit You must remember that the SILVER usIIS
countries have a population of over eight nun
dred millions and that their international COM
rnerce at present is worth about S6oO.OOooOO
DO YOU expect that other countries besides
the United States and China will support the
financial move which Mexico has taken!
Yes; expect to have strong support rom
Japan, from the Argentine Republic, Chill Peru
and several other of the South American couh-
tries - -. 49,. xo,-o
is of a far reaching influence in behaH or the
commerce of the world, and we nope 10 nave us
sinnathv and its strong support this ac-
count The Mexican Commission is already un-
der obligations to the American press lor the
Intelligent way in which the proposition mas
been understood from the beginning ana the
recommendations which have been made IN Its
behalf go
rs this move in favor of silver?'
at is verv important that both in the United
States and in Europe II should De uhaers b'1I
ion or in favor Of free coinage or blmetal!lsn.
What we have in view is the PERFECTION OF the
raonetarv systems of all of the silver using coun-
tries bv turning them into the gold standard
Pv doing so we also expect a certain improve
Ynent in the price OF silver and a certain steadl-
ness in its value; but this is an independent Issue
Of a commercial character altogether which will
be adjusted by the supply and demand OF sli-
YER"
Mr.. Hanna said that the members would prob
ably remain abroad from three to four months,
visiting London. Paris, The Hague Berlin and
ST Petersburg and perhaps one or two other
European capitals. In response to d question
Mr.. Hanna said:
I'VE are instructed by the State Department
70 present 70 foreign governments the subject
of putting end by some monetary arrange.
rnent to the present f1uctuation in the rates or
exchange between silver standard and gold
standard countries. The only sound method OF
doing this in my opinion, is to raise the silver
countries TO "a gold exchange standard Iris
will practically make gold the money standard
throuChout the commercial world. and will per-
NIT contracts TO be made for the delivery OF
goods in China. Mexico and other countries now
upon the silver basis without the uncertainty
which at present exists as to the gold value or
the money received for them.
There is nothing involved in our mission
which smacks of binetalliSm. On the contrary,
standard so far as possible to every country in
the world which is now upon a paper or silver
basis