The Detroit times., 1911-04-29
CHINA TO HAVE NEW
CURRENCY SYSTEM
Will End vexatious Obstacle to
Transaction of Business and
Foreigners Are Pleased.

anu fTeuCu DhuhcTog Tie oCoeh AA~''
of the most hopelessly confused cur
rency In the world was sounded. For
eigners residing In. or doing business
with China breathed a great sigh or re-
lief, as the loan is to end a most vex'
atious obstacle to the transaction oi
business.
China agrees, as part OF the con-
tract, to install a currency system
worthy OF the name. Until the
eighties Of the last century, China had
no silver coinage. The copper, or
more properly, the brass cash, was
the only national coin. Silver was
used In the lump by weight. the unit
OF weight being known to foreigners
as the taol Ian Indian term) and to
the Chinese as the liang, the equal.
roughly speaking. to / 1-3 ounces
avoirdupois.
The weight of the lang. however.
and the Rneness OF the silver bui-
lion varied In every city Of the en-
pire, and, to add to the confusion.
Mexican and Spanish dollars were
also in use in certain localities. About
1887 the Chinese provisional govern
ment began to mint dollar pieces,
and there are some eight or ten vari-
eties of these in circulation, all nomi-
nally of the value of Mexican dol
lar, but In reality entirely lacking
uniformity.
Added to these various dollars Is
that of the British crown colony,
Hongkong, which Is in use in a num-
Der of the ports. Several foreign
banks doing business In China have
issued paper notes, which have linn
tied circulation. Some of these are
subject to discount II used outside the
port of issue. All this has produced
great confusion, and burdened trade
with endless charges for exchange,
and the difficulties have been increas-
ed by the fluctuation In the gold val
ue Of the silver.
The American government has been
consulted a number Of times by Chi
ma during recent years in regard to
currency reform which would relieve
the situation. In 1903 treaty was
signed In which China agreed to pre-
vide a uniform national coinage.
In 1904, at the request of China,
Prof. ]. W.. jerks of Cornell uni
versity, and a member OF the Com
mission on International Exchange,
was sent to Peking by the American
government. Prof. jerks studied the
monetary. situation In China for IL
months, ana his recommendations
were accepted.
However, after his return to the
United States change of sentiment
appeared. Various substitute schemes
were presented, but none adopted
until last May, when an imperial
edict appeared approving a plan.
The standard coin is to be OF silver
OF the same weight and fineness as
the Mexican dollar. The fractional
pieces In silver will be the dime, the
quarter and the half dollar and sub
sidiary coins in addition to these will
be a nickel five-cent piece, and in
copper the mill, five-mill, one-cent
and two-cent piece.
Old Expression Gains Favor.
The queer popularity of the old ex-
preston, dotting an I or crossing q
T." is growing every day in the house
Of representatives.
Minority Leader Mann started the
fad. In declaring that certain pro-
vision OF the new rules made abso-
lutely no change over the old new
ones, he declared II was mot altered
by the crossing Of T nor the dot
ting OF an l." This was the first ex-
tended speech made after the conven-
ing of the extra session.
The expression stuck In the minds
Of the members. II has been used
about three score times since. Rep.
Underwood lDem-r rAla-) and Rep.
Cooper (Rep., Wis., pulled 1t of In the
reciprocity debate; Rep. Rucker
(Dem., MOI got 1t of in connection
with the debate on the bill for the
direct election OF senator's. Ex-
Speaker Cannon used 1t In his plea
against Canadian reciprocity, and Rep.
Fordney (Rep., Mich.) shouted 1t out
the other day. The end is not yet
Things run In fads at the house.
When somebody revives catchy ex-
preston 1t has long run until II be-
comes so chestnutty that another
member starts a new one.
Another rife shooting trophy has
recently been added to the collection
at the Office OF the secretary Of war.
Tho latest addition to the prizes Is
the Dewar cup, which has just ar
rived from England. This cup was
won by the American team last year,
in competition with teams OF Great
Britain and Australia Each country
was represented by so men shooting
small caliber rifles at 75 feet.
The trophy is q silver cup, 30 inches
high, which cost $500. II was present
ed by Sir Thomas Dewar Of England.
Il will remain in the custody Of the
United States one year, when II will
again be put in competition.
Aerial Tournament Coming.
The national capital will soon be
the scene OF a continuous aviation
tournament Furthermore, there will
be no ticket-takers on the field, and
visitors may acquire the aviation
neck without charge. Uncle Sam is
the Snowman.
Negotiations are about completed
for the lease of grounds near Wash
ington by the war department, for
use as an acrodrome. The depart
ment already is arranging to buy sew
eral aeroplanes, an appropriation or
s125, 900 having been made for the
purpose by both houses Of congress.
The senate has voted that $4,000 or
this sum be made Immediately avail
able.
Brigadier General Allen has asked
aeroplane makers to make offers, and