The Montgomery advertiser., 1904-11-21
REPORT OF COMMISSION ON
 INTERNATIONAL EXCH ANGE

great extent, of course. by the high ofncials in the government who have specially to do with the subject under discussion; and In this instance the re- sponsibility for the recommendations which would doubtless prove conclu- aiye. rested chiefly upon the Chinese President of the Board of Revenue. Ills Excellency Lu Chuan Lin, together with their Exceliencies the Manehu President, Yung Chin. and Ma Tung. the distinguished ofSiclal who had been des- ignated the year before to report on the monetary system. of Japan.
 Thought Silver Best.
 Naturally the opinion of the senior President of the Board of Revenue would be of the greatest influence. Ills excellency, an official of ripe years and of extended experience In various high official positions. a man of up right and most positive character, had apparently reached the conclusion that the wisest plan for the Empire was to begin on a silver basis in the hope of ultimately reaching the gold standard: but the plan for the change to the gold standard had not been fully worked out by him or by others in the Commission. As there was relatively lALNAG opportunity TUT QANGCl ulSCuketOl with the President of the Board of Revenue on account of his absence at the summer palace in attendance on the Court, as we'll as from the pres sure of his other duties. (since. in his judgment. the matter was already set- tled). 1t seemed, until shortly before the American Commissioner was com pelled to leave China on account of the limitation of the life of the Com mission imposed by Congress. that the plans of the Commissions would proba- bly, not be adopted or even thoroughly considered by the Imperial Government in the most important matter of Hli-- the prompt establishment of the gold basis--although in numerous minor particulars. even some of considerable pressed by the officials that they would accept the American suggestions.
 New President Appoimted.
 At length. however, His Excellency the President of the Board of Revenue, was transfrred to the President of the Board of Works and a new President of the Board of Revenue was appoint ed. His Bxcellency Chao Erh Hsun the new President of the Board of Revenue, manifested immediately a great interest in the plans under dis cussion and himself personally honored the American Commissioner by meet ing him repeatedly day after day for the discussion of the subject. Before Mir. Jenks was compelled to leave Pe- king for America, the opinion was ex- pressed by several of the high Chi nese ofIlcia1s whose positions would place heavy responsibility upon them in connectionwith the money system, that the American plans were practical if the cooperation of the viceroys of the more important provinces could be se- cured; that the Chinese government. sould, if 1t seemed advisable, secure the cooperation of the vIceroys of the carrying out of the reform; and that there would be no infringement of the sovereignty of the Empire or danger to its integrity or usefulness in the employment of such foreign expert aid as might be required for the establish ment of system in accordance with the American plan.
 AssuFed of Support.
 The Commissioner was assured also by different governors, vIceroys. and commissions, that the American plans would have their support; and some of the highest officiais in PekinE are of the opinion that in a number of in- stances, at any rate, the support of the local authorities will be heartily given to the Central Government if 1t under. takes these plans. favorable tuds- ment regarding the attitude of the Chinese Government seems to be quite general also among those foreign resi- dents most experienced in Chinese af> fairs. The general opinion seems to be well represented by Mir. ConEer, the l minister of the United States, in his letter to the Department of State, as | follows:
 have the honor to report that Pro- lessor Jenks left Peking for home on | the 27th instant.
 His task was a very difficult one. and at first the prospects were rather discouraging. but by patience, persist. ence, and clever presentation of his unsurpassed knowledge of the subject, he has made great progress. He has practically brought the Chinese Gov ernment to believe that his plan is the correct one. and ought, if possible. to | be adopted; yet they greatly fear that so radical a change in their financial 1 system cannot at present be carried out by government which has so littlo | real power over it's separate provinces. Chinese Make Promises.
 | However. they have promised to at | once consult the leading Viceroys and l Governors and see what can be done but whether or not Professor Jenks's | plan is adopted. his instruction and ad- | vice will aid the Chinese Government greatly in its efforts to adopt a uni- form currency as required by the recent treaties, and his further assistance Is 1 most likely to be solicited by them.
 Professor Jenks has been treated 1 with the greatest respect and consid- eration by the Chinese officials. They feel that he has been of great service to i them, and 1t is certain that much good will result from his mission, for all of which he deserves great credit.
 Of still greater import is documen- tary testimony from Chinese sources, besides the favorable opinions referred to above which have been expressed ln- formally by business men and officials. The Chinese commercial union of Hong 1 Kong took formal action. The Presi- dent of this Associatlon Gan active Chinese of the Chamber of Commerce)
 Mir. Feng Wa Chung, wrote to the American Commissioner on the 18th of August, 1904, stating that:
 A meeting of a committe of that in- stitutiOn was held on the 7th instant when 1t was unanimously agreed that it would be to the interest of China to adopt q gold standard, and that the Chinese residents of this colony would hail such a step with gratification, iii-