Therefore, care should be taken that there is no violent change in the existing situation. Even Dr. Vissering, who advocates the immediate adoption of a gold exchange standard, with a view to the final adoption of gold, admits that in the meantime it would be necessary to maintain a free circulation of silver coins, circulating at their own intrinsic metal value and also of copper coins; and that it would be much wiser to leave the existing silver and copper coins in circulation as long as they are of real use to the community. How illusory such a statement is, is proved by the reference to existing conditions, especially if one knows what the silver coins are that circulate in China. Dr. Vissering in the same breath says that, as far as silver currency is concerned, the people in the interior are not accustomed to using dollars as coins; perhaps it would therefore, even prove advisable in some places to prepare the way for a subsequent use of token money by first making the population gradually accustomed to the use of silver money as coins. The real fact of the matter is that silver does not circulate in China as currency. The dollar and the various coins other than the dollar that circulate in the ports and in a few of the interior towns are mainly used by foreigners; the few Chinese that take it, take it purely as silver and not because it is a recognized coin. In no part of the country is the dollar the money of business. Every commodity in China is priced principally in cash and secondly in taels. The tael, of course, is known to be an absolute weight in silver. The only way in which the tael is used as currency is in the shape of sycee. The sycee is known to be a horse-shoe shaped lump of silver with a certain degree of fineness, weight, and touch - these three attributes varying differently with different places. For purposes of actual trade, the sycee performs the same function as the gold reserves in the banks of Europe. The several trade transactions in this country, as in other parts of the world, do not involve the frequent movement of the sycee from one place to the other, although actual silver is moved more often in China than in Europe. As the great majority of people of the country use only copper in the course of their routine of life, silver is used by them only for purposes of hoarding. Thus, neither in trade nor in the daily life of the people, is there any circulation of silver in China. It is noteworthy that almost all the several kinds of silver coins that were introduced since the close of the eighteenth century - the Spanish or Carolus dollar, the several kinds of Mexican dollars, the American dollar, the Japanese yen, the Indian rupee besides numerous other coins - have all been thrown into the melting pot or turned into sycee. The attempts of the Chinese Government to introduce the dollar or other kinds of silver coins have also been equally fruitless; ever since the Canton mint began to issue dollars in 1890 there has been a perpetual wrangle between the Government and the public; the Government minting the sycee into dollars and the public melting the dollars into sycee. Recently the dollars that were minted as late as 1913 have all been converted to sycee, mainly because the dollars are neither negotiable with the public in the ordinary walks of life nor usable in trade. For a short while, especially after 1908, subsidiary silver coins were thrown out in large numbers by the mints and appeared to have a great hold on the Chinese public. The provincial governments issued large numbers of these coins, because of the large profits they obtained in their mintage; and the public readily took them because their denomination and value were such as to make them usable in the market. Of course, what the Government gained the public lost; as in the case of the copper token coins, these silver subsidiary coins had their values regulated, according to their intrinsic value in silver. Even these are now being thrown into the melting pot, because, according to the Chinese, there are too many of them moving about. Few would have the temerity to assert that during the period that the mints have been in existence in China the amount of silver subsidiary coins put forth by them could in any way compare with the total issue even by the small countries in Europe during a third of the period - although there is no doubt that the issue of the coins was badly regulated. Nevertheless they are being turned into sycee at great loss in many instances. The reason is that, so far, no coin that has been put into circulation in China has been such as really to suit the people or conform to their traditions.