In economics or politics or in any walk of life, the principle that should not be lost sight of is, that reforms should be built on sure foundations as also that they should take proper note of the existing foundations. The essential point, very often forgotten by unpractical enthusiasts, is that reform proposals for China should be in consonance with the national tradition and that they should be such as to coalesce with the existing conditions. It is as easy to change the disposition of a nation as it is easy to change the disposition of a man; and it is simply stating a fact to say that any scheme of reform that does not pay sufficient heed to the national idiosyncracies and long established national usages would never succeed. Currency reform in China is no exception to the rule, and if currency reform is to be carried out in China successfully, the scheme should not run counter to the existing conditions and local traditions. The fault of many proposals, including the latest one of Dr. Vissering's, is the assumption that because the gold or gold exchange standard has been found suitable in another country they should also serve the purpose for China. The proposers of these reforms have been quick to see all the faults of the Chinese systems without being able to perceive their merits. Few stopped to think that the Chinese systems should have some merits to have existed for centuries or gave a thought to the possibility of adapting the existing system to suit modern conditions. There is no doubt that the old system has broken down completely, in the face of the changes taking place to-day, on account of the expansion of foreign trade and foreign intercourse with this country.