Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-08-13
INTERNATIONAL CURRENCY.

co ON III i
appears that it has recommended the
adoption of the French five-franc piece
as the desirable unit. The french
decimal system of money accounts is
understood also TO be a part OF the plan
so recommended. But few persons
will dispute the d~esirability of one uni
form system of money computation for
the principal nations of the world,
and that the system adopted should be
the decimal system, no matter what the
unit Of circulation may be. There are
so many obstacles, however, in the way
of uprooting the old system of computa-
ton, and in d~isplaeing the coins or the
terms that form the basis Of computa-
ton, that long periods of time have al
ways been required to effect even the
most desirable changes. But when a
change is to be brought about for the
sake of convenience and uniformity, and
for the use of all commercial nations, it
should certainly be conceded that the
plan that will make least disturbance in
former values, and, introduce the few
est changes, aud best conform to the
customs of most nations, should be Sc
lected. Keeping this in mind, it is diff
icult to understand how the congress
referred to could have chosen the franc
as the most convenient and desirable
unit Of money and accounts for all ma
tons. In the first place, it is too small
for the purpose, and takes too many hg-
ures to express small transactions Sec
oud, il is an inconvenient unit for the
decimal division, as the teu-ceutime
piece is much too large for copper coin
age and quite too small for pure silver;
third, the centime, which is q humid
redth part of the franc, is of no practi-
cal use as a coin, as il will purchase
nothing, and is q mere term for ac-
counts and fourth, the franc does not
sufficiently accommodate itself to the
present money units of other countries.
The dollar Of our currency would have
been in every way preferable, not only
for the United States, but for a large
majority Of commercial nations. Nearly
all countries have coins that, either in
value or in name, approach nearer to the
American dollar than they do the French
franc or any decimal combination Of
that coin. To begin with our W con-
%tiuent, the dollar is everywhere known
and used in commercial transactions,
from Canada to the Argentine Confed-
Grafton, with perhaps the single excep-
ton Of Brazil. On the continent of
Europe, the "Thsler," the "Dsler,'
the " Specie Thaler," the "RiI-daler,'
the "Rigs-daler," and other forms Of
expression nearly the same as our dol
lar, are in use aud familiar in Austria,
Hungary, the Netherlands, Prussia,
Bavaria, Baden, Wurtemburg, the minor
German States generally, Denmark,
Norway and Sweden. The money value
of this coin is much nearer to that Of
our dollar than it Is to the French FIVE
franc piece. In Austria, Hungary and
Bavaria, the thaler of 1884, 1889 and
1925 ranges from 81 to 81 OIL. In Ba-
den, Wurtemburg and Hesse, the "Tha-
Ter" ranges from 81 OIL to ST. II. In
Denmark, Norway and Sweden the
"Specie-daler" and Riks-daler Of
1850, 1854, 1855, range from 81 % to
81 10. In the Netherlands the Rix-
dollar, or so silver piece of 1904, is ST.
O4i E; and the q gulden piece of 1852 is
81 o.. 1t will be perceived from this
how easy our dollar, with its convenient
divisions and notations, would accom-
modate itself to these countries where
it is already familiar by an almost iden-
teal name and nearly equivalent value.
The money nomenclature Of Great Brit
ain, and its complicated and arbitrary
divisions present the greatest difficult
ties ; but even there the people have a
familiar coin, which approaches nearer
to u dollar than it does to the French
fve-franc piece. This is the "Crown,"
or FIVE shilling piece, which in lS47 was
valued at 81 l24 Of u money. If we
pass to Italy we find the "Scudo," in
Lombardy and Venice, Of the value Of
81 OILY /; the same coin in Rome at ST.
O5i, and in Tuscany at 81 Os. In Ma
Piles and Sicily they have the Ducat "
at 80 cents, and in Sardinia proper, the
fve-lire piece at CIT. In Prussia the
Frederic dor" of 1854, is 50 Sc, the
quarter "Frederic" being just 80 cents.
We have thus given familiar coins Of
all the principal nations Of the world
except Russia, where the FIVE "rouble"
piece Of 1889 is Of the value Of 81 near
ly, and Spain, where the dollar is about
the same as our own; aud they all show
that the American dollar should have
been recommended by the Congress, if
convenience, instead Of undue French
influence, had not operated. It is not
at all likely, however, that any consid-
cradle number Of countries will adopt
the recommendation of the Congress.
We shall certainly be very slow to do it
in this country, where we have the most
convenient unit for expressing money
values, the best method Of money CON-
putation, the Oldest application of the
decimal system, and one that has been
found 10 suit US exactly. There are
other very important matters involved
in the proposed plan, such as the
changes that would be brought about
between debtor and creditor, the dis
turbance of existing contracts, the ne
cessary debasement of u coins,> etc.,
and about these We have said nothing,
In etronp enough without