The alternative plan is to let the economic forces have free and full play in the fixing of the ratio between gold and silver, and let legislation play a secondary part to bring about a state more advantageous to the country than at present. To a certain extent, no doubt, economic forces might be directed by legislation - but only to a very limited extent. Other factors like the process of the settlement of balances, have an influence, favourable or otherwise, on exchange. Having adopted silver as the standard the next step for China would be to take such steps as would confer on her sufficient power to regulate exchange in consonance with the free play of economic forces. At present, she has practically no control over foreign exchange and this is mainly due to the fact that her internal currency is chaotic. I do not suggest that the foreign banks who control exchange are acting arbitrarily or in a manner tending to jeopardize Chinese interests. But the fact remains that, with proper regulations and a better internal currency, she should reduce the amounts payable to foreign countries every year. This again should not involve the usurpation of the business of the foreign banks, as the scheme of Dr. Vissering will practically amount to in the end. For decades it would be impossible to displace the foreign banks. In the case of the foreign banks as with the native banks, the Chinese Government would do well to seek their co-operation and not disturb the vested interests and tradition of the past half century.