Under the indirect plan after the first-step" had been completed, position to a. second reform might Became' 20 pronounced that it would be dificult to go to the gold basi 'Another serious objection to th indirect "method is the loss of the Range seizniorage profits which woul otherwise go. to" the" Government 'Arter' the silveratandard coins hid teen' raised' in value to make them suitable for the xold-standard ays: tem, they would be. Sduelary. coin Tut the seigniorage profits which the Government should" have ™ receive would "not have gone to the Govern: ment, but would have been disap in private hands, 'The profits would have boon largely realized by tors, who would have teen' very" tive during that period. "The experi-fence of the. "Strnits. Settlements. in 1905 und. 1906 vith thin type. of currency reform" offers m valuable Tesson on thin point.
'The indirect plan' weskd_ sooner 0 Iter require a loro loan in orde establish the necessary gold reserve. The direct "plan, on the Other hand, would be self-supporting, fide froma small Initil Joan which could soon be paid off out of the profits from the refers itself. The Indirect plan would. take. Setrn to consummate" and woul delay for a Tong time the advantages of the golds standard: which China should. enjoy which is now being enjoyed. by timest all" the other "important uniform gold-standard currency would "bea great Help to burines ud industry in China. crease production, stimulate foreign trade, and add to' the prosperity: and well being of the enrive nation." The direct" method of rome to. the sold standard ly by {ar the most <ceowon Kel involves he least dattntance to business and has the great advantage that It" would make. omible. the {redaction of the gold standard im: mediately in the more advance! sec: tions of China
Text read from the printed page and cleaned; old type leaves the occasional error.