If the Government was wise and if the statesmen at Peking were properly advised they would have put an end to further coinage of the ten-cash pieces altogether; unfortunately the ministers listened to importunities of the provincial authorities who were then making a profit out of the coinage, and declared that the provinces were not yet supplied with a sufficient amount of these coins; therefore it was decided that local coinage should be allowed to continue, but that such should conform to certain regulations. There were ten regulations for the reform and re-adjustment of coinage and currency. Before proceeding with the details of the regulations, the following from the memorial relating to the condition of the provincial coinage may not be uninteresting: "The first coinage of silver in China was undertaken in Kwangtung with the object of supplanting the foreign dollar and making good the deficiency in the volume of the copper cash. Afterwards the provinces of Hupeh, Kiangsu, Chihli, Chekiang, Anhui, Mukden and Kirin all bought minting machinery and proceeded to turn out coins; but the coins minted at the several places differed considerably in weight and fineness, and even coins from the same mint lacked uniformity, so much so that people began to discriminate. The coins of one province were not accepted in another and thus they were less satisfactory than the Mexican dollar, which circulated generally throughout the country."

To remedy the chaotic situation a proposal was made that the provincial mints should no longer be allowed to operate. It was, however, thought impracticable that all of the coins needed for the country could be got out of one central mint. Owing to the vast extent of territory the ministers recommended that mints should be retained at Tientsin, Nanking, Wuchang and Canton, especially for the coinage of silver. In a memorial submitted to the Throne some general principles as to the future of currency were enunciated. It is extremely curious that, in spite of the fact that the memorialists were not unaware of the complications arising out of the coinage as it then existed, they should have persisted in proposing coinage in three metals - gold, silver and copper. They proposed that excepting such as were in operation there were to be no more new copper mints. Minting of copper coins was to be in accordance with a set of uniform rules, which provided that the coins were to be 95 per cent. pure copper and 5 per cent. zinc. The coins were to be of the following denominations and proportions: 10-cash pieces 50 per cent. of the total, 5-cash pieces 20 per cent. of the total, 2-cash pieces 20 per cent. of the total and the remaining 10 per cent. to be 20-cash pieces. The weights of the coins were: 20-cash pieces 4 mace kup'ing, 10-cash pieces 2 mace, 5-cash pieces 1 mace and 2-cash pieces 4 candareens. While seeking to provide for a national coinage, the memorialists stultified their own position, by providing that inter-provincial movement of copper coins in large quantities was not to be permitted.