It is tacitly agreed by all parties that the currency situation in this country needs a change and an urgent change. For all proposals tending towards a betterment of conditions, the examples are taken from foreign countries. The countries in which, at the moment, the currency is well regulated are either gold or gold exchange standard countries - the gold standard being that of the European countries and the United States as well as Japan and Siam, and the gold exchange standard countries being India, Strait Settlements, Philippines and the Dutch East Indies. Hence there are two classes of reformers, one proposing that the European plan should be instantly followed and the other proposing that the Asiatic plan or the system that prevails in countries like India should be adopted by China. The advocates of both schemes support their proposals with very plausible arguments. Those in favour of the gold standard point to the vast progress made in Europe under such a system; and that, although there might be inevitable difficulties at the outset things would adjust themselves in due course. Those in favour of the gold exchange standard state that conditions in India or Java approximate more to conditions in China, and that as administrators have proposed and adopted the gold exchange instead of the gold standard in these countries it should also be good for China. It would be sheer waste of space for me to go in detail into the several arguments adduced by the two parties; they take too little stock of the conditions in China, and the difference between China and the other countries.