Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-11-21
Made to Secy, Hay by Commits
sion Sent Abroad to Make an
Investigation Of Subject.
CHINESE MONETARY SYSTEM.
Matter Of Changing Il Now Uuder
COnsideraliOn--Price Of Silver
More Stable,

Washington, Nov. 2O.--The report OF
the commission on international ex-
change regarding It's work OF the past
year, has been submitted to secy Hay
and given by him to the public. The
work covers Investigations in connec-
tlon with the reform OF the monetary
system Of China and the establishment
Of new monetary system IN the re-
public 1f Panama.
There are submitted also some data
showIng a tendency toward greater sta
bllty in the price Of silver bullion, APP
papntly as a result Of the direct action
Of governments with which the COM
mission conferred last year, especially
OF the British government in connection
with the currency Of India.
This has tended TO produce greater
stability OF exchange and thus to d.
minish one OF the obstacles 20 trade be-
tween the gold countries and the silver
|, using countries.
The report IS signed by the three COM
mlssioners- Hugh Il Hanna, Charles
a. COnant and jeremiah w Jenks-but
the greatest emphasis is laid upon the
special mission of Prof. jerks TO China
to present to the imperial government
a report on the work done In Europe IN
100, and TO give any further assistance
desired by the Chinese government In
compliance with It's request to the Unit
ed States.
The Prince of Ching, the president OF
the grand council, who represents off,
cially the Chinese government, In re-
Spouse to request for a definite state
ment Of his opinion to be presented to
the United States. wrote to Mr. jerks
on the eve Of his leaving Pekin.
China Is just now considering the
matter Of deciding upon a new coinage
system he wrote and is celebrating
as % the establishment Of national
bank, and il Is most necessary that II
should follow your plans, and that all
those measures which need most ur-
gently TO be taken up just now In ac-
cordancc with those plans should at
once be put into execution with earnest
ness and promptitude,"
The commission feels, therefore, that
there is every reason 10 believe that
the mission tor which II was estab-
llshed TO cooperate with the Chinese
and Mexican governments In establish
lng sound monetary systems which
would fix the rate OF exchange between
the greatest OF the silver using coun-
tries and the gold standard countries.
has been in great part satisfactorily
performed
II remains 10 be seem Of course. how
promptly and by what methods the
Chinese government will carry out It's
intentions as indicated in the letter OF
the Prince OF Ch'ing. Of adopting IN the
main The plans Of the commission.
Attention Is called to the fact that
since April last the variation I'm the
price OF silver at London has been With
I'm the limits Of two pence per ounce.
while In 1900 the variations were more
than six pence,
II Is pointed out that the price Of bull
lion has reacted upon the exchange be-
tween the gold countries and the silver
using countries and that The result OF
this transition from the silver 10 the
gold standard has been facilitated and
IN silver using countries complaints
have been much less acute than before
regarding interruptions to trade with
gold countries,