I am firmly convinced that the cash should be the foundation of currency reform. So far reformers have taken too little stock of the power of the cash; they have begun with the tael or dollar as the case may be and have descended to the one-cent or ten-cash piece - with the exception of Dr. Vissering, who with his greater knowledge of banking and local conditions in this country, has advocated the minting of a half-cent piece. But every scheme, including that of Dr. Vissering, is vitiated by the fact that an artificial standard is set up at first and the descent is to be made to the cent or half-cent piece, which is to be allowed to remain as ten-cash or five-cash. When thus the whole foundation of the ancient Chinese currency polity is turned upside-down, it is no wonder that none of the proposals have ever been practicable or popular.