Litchfield enquirer., 1867-07-25
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UNIFORMITY OF
 CURRENCY.

The International Monetary Commission portant work; but 1t IS to be regretted that sccresy that little is known to the general public of its doings Tie main purpose of the Commission is to establish uniformi- ty of value in the coinage of the several countries of the world, with 8 view to avoiding the inconveniences in the foreign exchanges of the several nations, growing out of the existing diversity in the value of their respective coins. The movement was initiated ir convention between Bel gium, France, Italy and Switzerland, da- ted December, 1865, under which those nations agreed upon uniform standard in respect to the weight value, form and cir culation of their gold and silver coins, and also engaged each to receive into it's public treasury, within certain restrictions, the coins of the other countries. The Con- vention also limited tho silver coinage of each country to the ratio of francs to each inhabitant.
 Subsequently, tho idea was conceived of extending this or some similar system to all countries; and the Paris Commission has been convened for that purpose. The question appears to have been more or less thoroughly discussed by all the leading government, and their representatives have entered the Commission with 6 def- niteness of view which justifes the hope that some tangible result will be reached. It IS easily seen that @ uniform standard would rid the commerce of the world of Q vast amount of embarrassment. The same sort Of argument that would favor the adop- tion of uniformity of weights and meas ures, would show the desirableness of the present movement. Such an arrangement, moreover, would lead to vast economy in the use of money. At present, in the in- hux of gold and silver from foreign coun- try, the money is of little use to the coun- try receiving 1t until it has been recoined, 8 process involving cost and loss of time; whereas, were the coin of uniform value with that of the country importing it, and differing only in the national impression, 1t could at once serve the purposes of &C., tive circulation. The importance of hay ing the imports of the precious metals thus promptly available for the purposes of &C., tive circulation cannot be easily overesti- mated. To countries, therefore, which are habitusl importers of coin, the arrange ment would be especially important.
 There are, however, obstacles to be over- come before such a uniformity can be es- tabhshed. Naturally there will be cer- tain degree of international jealousy, es- pecially between France and England; the latter being indisposed to yield to the for mer in making the franc the monetary unit A general recoinage of the gold and silver in circulation in each country would be a necessary result of the adoption of the sys- tenn; winch would be an inconvenience of no small magnitude, and one which per hapS many of the Governments would prove reluctant to undertake. Then, again, the important question arises whether the uniformity shall be maintained with re- spect to gold coins only or to both gold and silver. The purely French commission, which sits in an advisory capacity to the Freuch members of the International Con- mission, has decided in favor of the double stan lard. It is understood, however, that the Commission has resolved to recommend that gold shall for time continue to be the standard of all countries, but that sil- yer shall be employed in those countries in which it exists. At present we can but wait with much interest for accounts of the progress of the proceedings of the Com mission. Commercial Bulletin.