Since the Indian system has been perfected it has been widely imitated both in Asia and elsewhere. In 1903 the United States introduced a system, which is practically a replica of the Indian system, into the Philippines. Mexico and Panama have followed a similar system. The Colonial Office have introduced it in the Straits Settlements and are completing arrangements to introduce it in the West African colonies. Japan, of course, as also Siam latterly, have had a similar system until they finally changed to the gold standard. A similar system has existed in Java for some years.
In practically all the countries mentioned above, the procedure followed was about the same; although in countries like Siam, Japan or India there was no chaos in the internal currency, the main difficulty was the adjustment of local conditions to international trade, which was, of course, the primary function of currency. In countries like Java and China, reform includes the co-ordination of local internal currency. Dr. Vissering, therefore, to a certain extent, rightly considered Java as eminently parallel to China. For the progress of currency reform in Java my readers may with advantage turn to Dr. Vissering's work. I will give a brief summary of the changes in Netherlands India where the situation before 1845 was not unlike the present state of affairs in China: