Gold has become the standard of convenience in the Western World; and it happens that Europe has a great influence in the shaping of the destines of the East, including China. It is being flippantly advocated to bring the standard in China to the level of Europe -whether it is suitable for, or advantageous to, this country or not. From the point of view of international commerce it would make no difference in the long run what the standard may be, because the forces that settle values are beyond the control of any standard. But the question is one of bringing about a smooth working of the programme without interfering with the conditions of life and trade. The foreign merchant rightly complains that the fluctuation in the gold value of silver nullifies all his calculations, on the basis of which he does his business. It is a truism that China trade partakes more of the nature of gambling than actual trade. As gambling is not an enterprise that should be allowed to survive longer than is necessary, the great fabric of China trade built upon an analogous principle is rightly seeking to emerge from its thraldom.