THE GOLD STANDARD.

Taranaki Daily News, Volume XLVI, Issue 233, 6 October 1904, Page 3

THE GOLD STANDARD.

CHINA MAY EARLY AIIOL'T THE SYSTEM. INQUIRY. BY AN EXPERT. (Received Oct. .1, 9.40 p.m.) NEW YORK, Oct. 0. Professor Jenks, who was swit Indirection of President Roosevelt to study the monetary systoms in vogue in the Far East, retuuKid to San Francisco yosteiday. The ProfisMor declares it as his icliif that China will, at a" early bite, adopt Uie gold standard. I,"]) to recent years repeated attempts to establish a silver currency n China had failed, through the dexterity of tile Chinese in adulterating the quality and so passing oil base as pure metial, thus preventing its success. Native silver bullion, called s.vcee, and gold bullion of similar sliape, and usually stamped with the names of the banker and tt'orkuien, and the year an<l district in which it is cast, are used in larger transactions. All taxes are paid in syct-e of U8 per cent, lineness. Private bankers are found in all large tou n■;, and they pay interest on deposits- They issue paper money, which passes current in the Particular disti ids where they are Known. The Mexican dollar, of tine value of Is 2d, is the current coin in Canton, and tho south of China. In Foo-ehow broken Spanish dollars are mostly used as th* medium of payment, wh.le in hlunghai, Tkn-l.'in, Han-->ow, and the northern ports, the t a ei w«iyht of silver, reckoned from 5s id to "is 10.d, is commonly usuc). The .Hai-kuan tael, the medium by .vfircrthe indemnity to the Powers •vas agreed upon by China, on account of t;he lioxer outbreak ot 1900, was calculated, is reckoned at about '!s in the pound sterling.