Hence the scheme best adapted to the needs of the present situation is the retention of the silver standard, with the copper cash as the basis and the silver tael as the unit or the standard. I have already shown that for centuries the Chinese have been prepared to accept copper coins as tokens. But the people have always valued every new silver coin only for the amount of the metal it contained. Therefore, they have stuck to the weight in practically every transaction of trade. In spite of the fact that numerous foreign and indigenous coins have time and again made bids for popularity and acceptance among the Chinese, not one has been even tacitly accepted by the whole of the country for even a day.