New-York tribune., 1903-01-29
MONETARY UNION PLAN.
MEXICO And CHINA ACT.
Propose That SiIUer Be Maintained
at the Ratio of SO to 1.
rBr 1ELEoRApR TO THE TRIBUSE.l


Washington, Jan. 2S.-A worldwide agree
rnent for maintaining silver at the ratio Of 81
10 is the basis Of two diplomatic comnunica-
tions 10 the State Department from Mexico and
China As was announced in Tuesdays Trih-
une the State Department had received mes
sases from several nations vitality affecting the
Philippine Currency BILL which was defeated
last week in the House by few Republican
insurgents and the Democrats. The Mexican
note contained a recommendation for currency
identical with that proposed by the War De-
partnent measure for the relief Of the Philip
pines There is In the correspondence with the
State Department another proposition Of great
Importance. urging that the United States use
its good Offices with Great Britain and France,
both of which nations have commissions in the
East in the Straits Settlements and Indo-China,
respectively, TO persuade them to join in com
bined effort TO fix ratio for silver which will
do away with the great losses incident to the
depreciation Of that metal.
THE PHILIPPINES CURRENCY BILL.
The Mexican note presented TO the Sec
retary Of State by Senior Enrique c. Cree. who
is representing that country on a special mis-
sion 10 Washington, and is charged with the
duty Of presenting the Mexican view OF the
question and trying to devise remedy which
can be adopted by the United States and Mexico.
Sefor Creel's proposed method is understood to
correspond with the provisions Of the Cooper
Philippine Coinage bill, which defeated in
the House by an alliance of certain Republicans
with the Democratic minority. but which the
Senate Committee the Philippines has since
voted to substitute for the measure passed by
the House.
The fact that this note had been presented
10 the State Department before the Philippine
WAS n he House
was learned with some surprise by the friends
Of that measure as originally presented, and
they say that had it been known that China
and Mexico were ready to cooperate with the
United States the fate Of the bill would have
been different Advocates of the Cooper Phil
ippine Currency biH which drawn by those
in close touch with Philippine conditions, bit
terly opposed the insurgent measure, and de-
clare that in the joint action Of all the coun-
tries possessing Eastern colonies lies the truest
solution Of the difficulty, and that knowledge
u this support Of the policy of the admins
iration on the part of Mexico and China would
have been sufficient to have turned the scales
in favor of the administration bill. That the
measure which the insurgents foisted the
House is not desired by the Philippines is ap-
parent from the contents Of a dispatch to Ssna-
tor Lodge. expressing the emphatic opposition
Of the commercial men of Manila, as printed
in to-days Tribune.
The opposition OF Secretary Shaw 20 the War
Department measure, already described in Tues
DAYS Tribune, is accenruated by the fact that
he expressed in no uncertain terms his disap-
proval of the scheme to the Mexican delegates,
but il is not believed that the opposition of
Secretary Shaw or the action of the House will
prevent the passage Of the Lodge bill, which is
practically the same the Cooper bill, by the
Senate for il is asserted by those familiar
with Philippine monetary conditions that unless
some remedial measures are taken to check the
fluctuations Of silver and its effects on trade and
commerce the Philippine deficit will be in
creased and the suffering in the islands con-
tnued if not augmented
COMPELLED TO TAKE ACTION.
The suggestion contained in the diplomatic
correspondence that the United States use its
good Offices with Great Britain and France is
6ouHtJess due to the fact that few months ago
Siam without any warning, adopted a gold
standard The suddenness of the action and
the nearness Of the British Straits Settlements
and the French Indo-Chinese colonies compelled
action on the part of both these nations TO re
wise their colonial currency, and commissions
are now engaged on this problem The sug-
gestion offered proposes the union Of all the
countries affected, and contains, in so far as
Mexico is concerned. the assurance that the
yian devised by the War Department for the
relief Of the Philippine currency situation is
satisfactory solution. The project Of world
wide standard in the Orient fixing silver at a
ratio of 30 TO 1. and carrying with it in the
Philippines the coinage OF pesos. two of which
would be equivalent TO the American dollar,
seems TO have been delayed if not defeated by
the Republican insurgents.