The Montgomery advertiser., 1904-11-21
Result of JenkS'S Visit to
 China.
c;overnment of Celestial Empire Given Advice By Financial E1pert--Es- tabllshment sf Monetary
 system for Panama.

of the Commission on International Exchange regarding it's work during the past year, has been submitted to Secretary Hay and given by him to the public. The work done during the year covers investigations in connec- tion with the reform of the monetary system of China and the establishment of a new monetary system in the Republic of Panama. There are sub mitted also some data showing ten dency towards greater stability in the price of, silver bullion, apparently as a result of the direct action of govern ments with whom the commission con ferred last year, especially of the Brit ish government in connection with the currency of India, This has tended, 1t is declared to produce greater stability of exchange and, thus to diminish one of the obstacles to trade between the gold countries and the silver-using countries.
 The report is signed by the three Commissioners, Hugh H.. Hanna, Charles A. Conant. and Jeremiah w. Jenks,--but the gratest emphaeis is laid upon the special mission of Pro- lessor Jenks to China to present to the Imperial government a report on the work done In Europe in 1908 and to render any further assistance desired by the Chinese government in compli- ance with It's request to the United States.
 As soon as his credentials were pre- sented to the government at Picking. Mir. Jenks asked permission before taking up the detailed consideration of the subject with the Imperial gov ernmerit, to spend some time in visit ing the more important treaty ports as well as some of the interior prov inces, in order to study business con ditions. The Imperial government not merely gave Its consent, but notified officials along the route chosen regard ing the intended visit and aided the commissioner in every way possible in making his observations.
 The results of these Investigations and discussions were that many new ideas regarding conditions in China and what was practicable for China were secured; that in many cases mis. conceptions regarding the nature of the reform and of the plans under discussion were removed, and that the experience secured and the knowledge gained enabled the commissioner to understand much more easily the at. titude of the higher Chinese officials toward their old system and the pro- posed new system.
 Chtm2B Monetary scheme
 On his return to Picking the subject was taken up for detailed discussion with the Imperial government As a result of the treaties with Great Bri- tain, the United States and Japan il has been the intention Of the Chinese government to establish a uniform monetary system and for the purpose of working out plans for that system as we'll as for meeting the United States commissioner. a commission had been appointed consisting of the mem bers of the Board of Revenue and sev. eral other officials, some of high and some of lesser rank. Some of these had been especially designated-to have charge of the new mint and to devote | their time to the consideration of mon. etary affairs.
 It was found that as a result of dis. cussions in connection with the treaty with Great Britain, of various reso. lutions massed during tho two or three preceding years by foreign chambers of commerce in China, of arguments presented in the newspapers, and oi their own study of the question, the Chinese government officials had ap. parently informally, although not al all officially, reached the conclusion that they wished ultimately to place their system of currency on the golC basis. but that at present they woult establish a uniform silver and coppel currency without definite plans fol reaching the gold basis
 Although the commissioner wa. treated throughout with the greates courtesy and consideration, it seemed at first as if the officials with whom ne had to deal at Picking, though in terested in the general subject had relatively speaking, slight interest iI the specific plans proposed by the com mission on International Excnange, Advantages of Gold Standard.
 As the discussions went on, however and as from the work of both tn, Chinese and American commissions tn, disadvantages and dlf1culties becam, more apparent of starting on a siiveI for the change to the gold basis, an, for the change of the gold basis, an, on the other hand the advantages O | having the new coins placed on tn gold basis from the beginning, botl l from the point of view of fInancia gain to the treasury and benefit t, the business interests of the country keen interest on the part of the Chi nese commissioners was clearly awaIx ened. In fact before the close of th, | discussions the Chinese comnissioner themselves said that from this U,orI not merely had their views to a. con siderable extent changed, but tha their whole interest in the plans of m, American commission had greatI, l increased.
 The decision of any question of tbu importance in Chinaris finally made b, the Emperor on the advice of the Gran1 Council The opinion of the Granf Council. however, is determined to {